Item Number: 12
City Council / Board of Directors
Consent Calendar
Meeting of: December 17, 2024
Submitted By:
Fredy Bonilla, City Engineer
Subject:
Reduction of Securities for Tract Map No. 14721
Recommendation:
That the Honorable City Council approve the full release of the Street Faithful Performance Security for Tract Map No. 14721.
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. 14721 (Tract 14721) is a 117-lot residential tract located on the southeast corner of Bear Valley Road and Mesa View Drive. In 2007, the subdivider for Tract 14721, Victorville Wild Brook LP, also known as Matthews Homes, recorded the map after entering into a Subdivision Agreement and posting securities for the required public improvements. Matthews Homes constructed some of the public improvements, but no homes were constructed within the tract because construction stopped when the Great Recession affected the residential market. The undeveloped lots were vacant until Western Pacific Housing, Inc., a California Corporation (D.R. Horton), acquired and began developing the tract in February of 2020.
During the regular City Council meeting held on December 19, 2023, the City Council approved a 20-percent decrease in the Street Faithful Performance Security, leading to 3 8
9 7
an overall reduction of securities by 80-percent. Additionally, the City Council also accepted the Street Public Improvements for Tract 14721.
Discussion:
Per Victorville Municipal Code section 17.64.070(3), the remaining 20-percent of the Faithful Performance Security is to be held for a one-year warranty period. Therefore, staff recommends the full release of the Street Faithful Performance Security due to the acceptance taking place at the December 19, 2023, regular City Council meeting and there are no outstanding warranty items.
Staff remains available for any questions Council may have.
Attachments: A. Vicinity Map
B. Securities Table
C. Existing Securities