Item Number: 6
City Council / Board of Directors
Consent Calendar
Meeting of: October 1, 2024
Submitted By:
Fredy Bonilla, City Engineer
Subject:
Reduction of Securities for Tract Map No. 17241
Recommendation:
That the Honorable City Council:
(1) Approve an 80% release of the Drainage, Sewer, Street, and Water Faithful Performance Securities for Tract Map No. 17241; and
(2) Accept the completed Drainage, Sewer, Street, and Water Public Improvements.
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. 17241 (Tract 17241) encompasses a residential area with 79 lots, located at the northeast corner of Third Avenue and Silica Drive. The conditions of approval for the tract required the developer to complete various infrastructure components, including the Drainage, Monumentation, Sewer, Streets, and Water Public Improvements. On May 20, 2021, a Subdivision Improvement Agreement (SIA) was recorded and secured by improvement bonds with KB Home Coastal, Inc., also known as KB Homes, for the development of the tract. Since then, KB Homes has been progressing with the development of Tract 17241.
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Discussion:
The Developer has completed the Drainage, Sewer, Street, and Water Public Improvements for Tract 17241. Therefore, staff recommends that the City Council approve an 80% reduction in the Faithful Performance Securities in accordance with Victorville Municipal Code (VMC) Section 17.64.070(1) and accept the completed Drainage, Sewer, Street, and Water Public Improvements. The remaining 20% of the Drainage, Sewer, Street and Water Faithful Performance Security will be held for the one- year warranty period as stipulated in VMC Section 17.64.070(4).
Staff appreciates KB Homes being a great development partner. In addition to completing the undeveloped tract, KB Homes complied with all the City’s Punch List items, including the slurry-sealing of Silica Drive and Third Avenue. These roads were completed by the prior developer 18 years ago and needed to be resurfaced.
Staff is available for any questions Council may have.
Attachments: A. Vicinity Map
B. Securities Table
C. Existing Securities