Item Number: 6
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. 14751
Recommendation:
That the Honorable City Council approve the full release of the Street Faithful Performance Security for Tract Map No. 14751.
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. 14751 (Tract 14751) encompasses a residential area of 105-lots located at the southeast intersection of Bear Valley Road and Mesa View Drive. Western Pacific Housing, Inc., a Delaware Corporation, commonly known as D.R. Horton, entered a Subdivision Improvement Agreement (SIA) in 2017. The terms of the SIA required that the developer finalize various infrastructure components to include Water, Sewer, Drainage, Street, and Monumentation. During the regular City Council meeting held on December 19, 2023, the City Council approved an 80-percent decrease in the Street Faithful Performance Security. At the time, the developer had made considerable progress in completing the necessary improvements, as the City Council approved and accepted the Water, Sewer, Drainage, and Street Improvements for Tract 14751. 3 8
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Discussion:
Per Victorville Municipal Code section 17.64.070(4), the remaining 20-percent of the Faithful Performance Securities shall be held for a one-year warranty period. Therefore, staff recommends the full release of the Street Faithful Performance Securities 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