Item Number: 10
City Council / Board of Directors
Consent Calendar
Meeting of: July 16, 2024
Submitted By:
Fredy Bonilla, City Engineer
Subject:
Reduction of Securities for Tract Map No. 13816
Recommendation:
That the Honorable City Council approve the full release of the Sewer and Water Public Improvement Faithful Performance Securities for Tract Map No. 13816.
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. 13816 (Tract 13816) encompasses a residential area with 195 lots, located at the northwest corner of Mojave Drive and Cobalt Road. The conditions of approval for the tract required the developer to complete various infrastructure components, including the Landscaping Maintenance Assessment District (LMAD), Monumentation, Water, Sewer, and Streets Public Improvements. On April 20, 2021, the City Council approved a Subdivision Improvement Agreement (SIA) secured by improvement bonds with D.R.
Horton Los Angeles Holding Company, Inc., also known as D.R. Horton, for the development of the tract. Since then, D.R. Horton has been progressing with the development of Tract 13816.
During the regular City Council meeting on June 6, 2023, the City Council approved an 80% reduction in Sewer and Water Faithful Performance Securities. Additionally, the City 3 6
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Council accepted maintenance of the Sewer and Water Public Improvements for Tract 13816.
Discussion:
Per Victorville Municipal Code Section 17.64.070(4), the remaining 20% of the Faithful Performance security are to be held for a one-year warranty period. Therefore, staff recommends the full release of Sewer and Water Public Improvements Faithful Performance Securities due to the acceptance taking place at the June 6, 2023, regular City Council meeting and there are no outstanding warranty items
Staff remains available for any questions the Council may have.
Attachments: A. Vicinity Map
B. Securities Table
C. Existing Securities