Item Number: 18
City Council / Board of Directors
Consent Calendar
Meeting of: June 18, 2024
Submitted By:
Fredy Bonilla, City Engineer
Subject:
Reduction of Securities for Tract Map No. 14721
Recommendation:
That the Honorable City Council approve the full release of the Street Public Improvement Labor and Material Security for Tract Map No. 14721.
Fiscal Impact:
There is no fiscal impact as a result of 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:
Western Pacific Housing, Inc., a Delaware Corporation, commonly known as D.R. Horton, purchased Tract Map No. 14721 (Tract 14721) from Victorville Wild Brook LP, also referred to as Matthews Homes. Tract 14721 encompasses a residential area of 117 lots situated at the southeast intersection of Bear Valley Road and Mesa View Drive. At the time of acquisition by D.R. Horton, the tract was partially developed, with partial public improvements being completed. The conditions of approval for the tract mandated the developer to finalize various infrastructure components; Drainage, Landscaping Maintenance Assessment District (LMAD), Monumentation, Sewer and Streets Public Improvements. Subsequently, on February 19, 2020 the City Council approved a Subdivision Improvement Agreement (SIA) with D.R. Horton as D.R Horton agreed to the responsibilities and obligations for the completion of Tract 14721. 3 6
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During the regular City Council meeting held on December 19, 2023, the City Council approved a 20% decrease in the Street Faithful Performance Security, leading to an overall reduction of securities by 80%. Additionally, they accepted the Street Public Improvements for Tract 14721.
Discussion:
Per Victorville Municipal Code Section 17.64.070(3), the remaining 20% 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 Street Public Improvements Labor and Material Security due to the acceptance taking place at the December 19, 2023, regular City Council meeting.
Staff remains available for any questions the Council may have.
Attachments: A. Vicinity Map
B. Securities Table
C. Existing Securities