Item Number: 7
City Council / Board of Directors
Consent Calendar
Meeting of: March 5, 2024
Submitted By:
Fredy Bonilla, City Engineer
Subject:
Reduction of Securities for Tract Map No. 16463
Recommendation:
That the Honorable City Council approve the full release of the Water and Sewer Labor & Materials Securities for Tract Map No. 16463.
Fiscal Impact:
There is no fiscal impact associated with this action.
Strategic Plan Goal:
This item aligns with “Goal E Invest in Infrastructure” in the City of Victorville Strategic Plan 2023-2026. Although this is not a Capital Improvement Project, we apply the same strategy to private development projects as they are essential in meeting the community’s needs.
Background:
Tract Map No. 16463 (Tract 16463) is a 81-lot, single family subdivision, located at the northwest corner of Mojave Drive and Cobalt Road. On March 15, 2022, the City Council approved a Subdivision Improvement Agreement (SIA) secured by water, sewer, drainage, LMAD, street, and monumentation improvement securities with D.R. Horton Los Angeles Holding Company, Inc., also known as D.R. Horton, for tract development.
Since that time, D.R. Horton has been developing the tract.
Discussion:
At the June 6, 2023, regular City Council Meeting, the City Council approved an 80% release of the water and sewer Faithful Performance securities and accepted the water and sewer improvements. The City Council also approved a 60% release of the LMAD, street, and drainage Faithful Performance securities as the construction of those improvements were still ongoing.
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Per Victorville Municipal Code Section 17.64.070, the remaining 20-percent of the Faithful Performance security are to be held for a one-year warranty period and the Labor & Materials securities will be held for a 6-month period. Therefore, staff recommends the full release of the water and sewer Labor & Materials security due to the acceptance taking place eight months ago.
Staff remains available for any questions Council may have.
Attachments: A. Vicinity Map
B. Security Tables
C. Existing Securities