Item Number: 8
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. 16463
Recommendation:
That the Honorable City Council approve the full release of the Water and Sewer Public Improvement Faithful Performance Securities for Tract Map No. 16463.
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:
Tract Map No. 16463 (Tract 16463) consists of 81 single-family lots and is positioned at the northwest intersection of Mojave Drive and Cobalt Road. On April 20, 2021, the City Council approved a Subdivision Improvement Agreement (SIA), secured by a lien agreement with the developer D.R. Horton Los Angeles Holding Company, Inc. (D.R.
Horton). Following the attainment of all requisite jurisdictional permits for channel improvements, the City Council released the lien agreement on March 15, 2022, and opted to accept bonds as an alternative form of security. The approved SIA outlined various responsibilities for the completion of Tract 16463, including Drainage, Landscaping Maintenance Assessment District (LMAD), Monumentation, Sewer, Streets, and Water Public Improvements.
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During the regular City Council meeting held on June 6, 2023, the City Council approved an 80% release of the Water and Sewer Faithful Performance Security. Additionally, the City Council accepted the Water and Sewer Public Improvements for Tract 16463.
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. Therefore, staff recommends the full release of the Sewer and Water Faithful Performance securities due to the acceptance taking place at the June 6, 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