Item Number: 4
City Council / Board of Directors
Consent Calendar
Meeting of: October 15, 2024
Submitted By:
Fredy Bonilla, City Engineer
Subject:
Reduction of Securities for the Public Improvements associated with an Industrial Warehouse
Recommendation:
That the Honorable City Council approve the full release of the Street Public Improvement Labor and Material Security for an Industrial Warehouse.
Fiscal Impact:
There is no fiscal impact associated with 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:
Case Nos. BLDC21-00009 and EROW21-00119 pertain to the construction of an 816,300 square foot Industrial Warehouse located at the southwest corner of Phantom West and Nevada Street within the Southern California Logistics Airport (SCLA). The developer, Prologis SCLC Investments/Lot 19 LLC, was required to complete Street Public Improvements as stipulated in the conditions of approval. As part of this public improvement, the developer provided bonds as security for the necessary pavement widening, curb and gutter work, sidewalk installation, and drainage improvements on Phantom West and Nevada Street.
Discussion:
During the regular City Council meeting held on October 3, 2023, the City Council approved an 80% reduction in the Street Faithful Performance Security. Additionally, the 3 8
1 6
recently completed Street Public Improvements were accepted. Per Victorville Municipal Code Section 17.64.070(3), the remaining 20% of the Faithful Performance security was held for a one-year warranty period and the Labor & Materials security was held for a 6- month period. Staff recommends the full release of the Street Public Improvements Labor and Material Security due to the acceptance taking place at the October 3, 2023, regular City Council meeting. Although we are requesting a full release of the Street Public Improvements Labor and Material Security, the remaining 20% of the Faithful Performance Security is not being released at this time because there are eight overhead power lines that are pending conversion to underground lines. The developer is currently collaborating with Southern California Edison (SCE) on this project. Once the work is completed, the Development Engineering Department intends to reevaluate the release of the remaining Faithful Performance Security bonds.
Staff appreciates Prologis being a great development partner. In addition to completing the required public improvements, Prologis slurry-sealed Phantom West along their frontage extending the useful life of the pavement by an additional 5-7 years.
Staff is available for any questions Council may have.
Attachments: A. Vicinity Map
B. Securities Table
C. Existing Securities