Item Number: 7
City Council / Board of Directors
Consent Calendar
Meeting of: May 7, 2024
Submitted By:
Fredy Bonilla, City Engineer
Subject:
Reduction of Securities for Tract Map No. 16774
Recommendation:
That the Honorable City Council approve the full release of the LMAD, Landscape Maintenance Assessment District, Faithful Performance Security for Tract Map No. 16774.
Fiscal Impact:
There is no fiscal impact associated with this item.
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. 16774 (Tract 16774) is a 150-lot single-family housing subdivision located at the northwest corner of La Mesa Road and Peña Road. FHII, LLC, also known as Frontier Homes (Developer), entered into a Subdivision Improvement Agreement (SIA) with the City on March 16, 2021. Per the SIA and the conditions of approval, the Developer is required to install public improvements such as LMAD, monumentation, grading, streets, sewer, storm drain, and water systems.
At the April 18, 2023, regular City Council Meeting, the release of 80% of the Faithful Performance security for the LMAD Improvements was approved due to the required public improvements being completed.
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At the November 7, 2023, regular City Council Meeting, the full release of the Water, Sewer, Drainage, and LMAD Labor & Materials Securities was approved for Tract Map No. 16774, per Victorville Municipal Code Section 17.64.070(3).
Discussion:
Per Victorville Municipal Code Section 17.64.070(4), the remaining 20-percent of the Faithful Performance Security are to be held for a one-year warranty period. There are no outstanding warranty items for the LMAD improvements on La Mesa Road and Peña Road at this time. Thus, staff recommends the full release of the Landscape Maintenance Assessment District (LMAD) Faithful Performance Security due to the warranty period ending on April 18, 2024.
Staff is available for any questions the Council may have.
Attachments: A. Vicinity Map
B. Securities Table
C. Existing Securities