Item Number: 7
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. 14992
Recommendation:
That the Honorable City Council approve the full release of the Drainage, Sewer, and Water Public Improvement Faithful Performance Securities for Tract Map No. 14992.
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. 14992 (Tract 14992) from Victorville Wild Brook LP, also referred to as Matthews Homes. Tract 14992 encompasses a residential area of 117 lots located 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, Water, and Streets Public Improvements. Subsequently, on January 23, 2019, 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 14992.
3 6
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During the regular City Council meeting held on March 21, 2023, the City Council approved an 80% decrease in the Drainage, Sewer and Water Faithful Performance Securities. Additionally, the City Council accepted the Drainage, Sewer and Water Public Improvements for Tract 14992.
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 the Drainage, Sewer and Water Public Improvements Faithful Performance securities due to the acceptance taking place at the March 21, 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