Report to Mayor and City Council
Tuesday, May 21, 2024
Consent
SUBJECT:
Title
CONSIDER BOND RELEASE FOR TRACT MAP NO. 78226: 175 UNIT RESIDENTIAL CONDOMINIUMS AT CARSON LANDING LOCATED AT NORTHWEST CORNER OF VICTORIA STREET AND CENTRAL AVENUE
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I. SUMMARY
On November 7, 2018, the City adopted Resolution No. 18-119 establishing the City of Carson Community Facilities District No. 2018-01 ("CFD No. 2018-01") (Maintenance and Services) and Future Voluntary Annexation Areas. On January 4, 2022, the City Council approved Tract Map No. 78226: a subdivision development of Carson landing consisting of (175 units) residential condominiums ranging approximately from 1,423 square feet to 2,072 square feet on the Northeast corner of Victoria Street and Central Avenue. The construction of offsite improvements for Tract Map No. 78226 has been completed in compliance with the approved plans and specifications and in a manner satisfactory to the City's engineering staff.
The developer requests the release of the bonds to reflect the completed sewer improvements. Staff recommends that the City Council approve the work as complete and authorize staff to release the performance Bond of $1,112,900.00 and Payment bond of in the amount of $1,112,900.00 for Tract Map No. 78226.
II. RECOMMENDATION
Recommendation
TAKE the following actions:
1. APPROVE the work as complete.
2. ACCEPT the new off-site improvements for public use.
3. AUTHORIZE the release of the Performance bond in the amount of $1,112,900.00 for construction of public sewer improvements for Tract Map No. 78226.
4. AUTHORIZE the release of the Payment bond in the amount of $1,112,900.00 for the construction of public sewer improvements for Tract Map No. 78226.
5. INSTRUCT the City Clerk to send a copy of the City Council action to the principal, surety, and the County of Los Angeles Department of Public Works.
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III. ALTERNATIVES
DO NOT APPROVE the release of the bond. However, it is standard...
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