Item Number: 4
City Council / Board of Directors
Consent Calendar
Meeting of: April 2, 2024
Submitted By:
Fredy Bonilla, City Engineer
Subject:
Reduction of Securities for Tract Map No. 16828
Recommendation:
That the Honorable City Council approve the full release of the Water and Sewer Faithful Performance and Labor & Materials Securities for Tract Map No. 16828.
Fiscal Impact:
There is no fiscal impact resulting from 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. 16828 (Tract 16828) is a subdivision of 40 single-family lots located at the northwest corner of Cordova Road and Tawney Ridge Lane. On September 14, 2021, the City Council approved a Subdivision Improvement Agreement (SIA) with Frontier Communities (Developer) and accepted water, sewer, monumentation, and street improvement bonds as security.
Discussion:
At the February 7, 2023, regular City Council Meeting, the release of 80% of the Faithful Performance securities for the Water and Sewer Improvements was approved due to the required public improvements being completed.
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At this time, a full release of the Water and Sewer Faithful Performance and Labor & Materials Securities is recommended for Tract Map No. 16828, per Victorville Municipal Code Section 17.64.070(4).
Staff remains available for any questions the Council may have.
Attachments: A. Vicinity Map
B. Security Tables
C. Existing Securities