HomeMy WebLinkAbout07 - Release of Surety for Off-Site Public ImprovementsCITY OF NEWPORT BEACH
CITY COUNCIL STAFF REPORT
Agenda Item No.
August 14, 2007
TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: Public Works Department
Iris Lee
949- 644 -3323 or ilee @city.newport- beach.ca.us
SUBJECT: RELEASE OF SURETY FOR OFF -SITE PUBLIC IMPROVEMENTS
COMPLETED ON 151h STREET FOR TRACT NO. 16468
(ONE NAUTICAL MILE)
Developer: Shea Homes
RECOMMENDATIONS:
Accept the off -site public and private improvements constructed as Tract No. 16468
per conditions of approval.
2. Authorize the City Clerk to release Faithful Performance Bond No. 104304075 in the
amount of $135,000.00 for public improvements along 15"' Street.
DISCUSSION:
On June 8, 2004, the City Council conditionally approved the construction of off -site
improvements for Tract No. 16468 by Shea Homes. City Council accepted a Faithful
Performance Bond (No. 104304075) in the amount of $135,000.00 for the construction
of public storm drain, sanitary sewer, street lighting, and street improvements along the
15 Street public right -of -way fronting the development in the event that Shea Homes
failed to satisfactorily complete the work.
Shea Homes requested the release of the bond per the July 17, 2007 attached letter.
The required off -site improvements have been inspected and are satisfactory for
acceptance. The non - standard decorative pavers and landscaping installed within the
public right -of -way will be maintained by One Nautical Mile. The storm drain and sewer
systems will be maintained by the City. Staff recommends the release of the Faithful
Performance Bond.
Environmental Review:
Provisions of CEQA are not applicable.
Prepared by: Submitted by
e, P.E. phen . Badum
Associate Civil Engineer Public Works Director
Attachment: Shea Homes Bond Release Request - Letter dated July 17, 2007
.I
Caring since 1881.
July 17, 2007
City of Newport Beach
Public Works Department
3300 Newport ' Boulevard
Newport Beach, CA 92663
Attn: Mr. Fong Tse
Re: Bond and refundable deposit release
Dear Mr. Tse,
RECEjVED
JUL 2 3 ZUU1
Public Works Department
City of Newport Beach
Per your phone instructions Shea Homes is requesting the release of the Subdivision
Faithful Performance Bond for Tract 16468. Bond number 104304075 in the amount of
$135,000.00
I would also like to request the release of the refundable deposit of $571.00 for Permit
number N2004 -0028.
Thank you for your help with this matter and if you have any questions please call me at
(714) 792 -2536.
Q to �
Robert Gillis
Sr. Community Development Manager
Shea Homes
603: S. Vah wia Anenae
Brea CA 92823
.714985:1300 r
.714.792.2500 F
Shea Homes Limited Parmerrhip 6-
Shea Homer Marketing Company