Report to Mayor and City Council
Tuesday, February 20, 2018
Consent
SUBJECT:
Title
CONSIDER THE BOND RELEASE FOR PARCEL MAP NO. 67049: CONVERSION OF AN EXISTING RENTAL MOBILEHOME PARK, KNOWN AS COLONY COVE, TO RESIDENT OWNERSHIP LOCATED AT 17700 AVALON BOULEVARD (CITY COUNCIL)
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I. SUMMARY
On December 4, 2012, the City Council approved Item No. 6, Final Parcel Map No. 67049: Conversion of Colony Cove Mobilehome Park to resident ownership located at 17700 Avalon Boulevard (Exhibit No. 1), on a 52-acre site owned by Colony Cove Properties. The construction of offsite improvements for Parcel Map No. 67049 have been completed in compliance with the approved plans and specifications and in a manner satisfactory to the City's Engineering Services Division staff.
The developer requests the release of the Surety Bonds to reflect the completed work. Staff recommends that the City Council approve the work as complete and authorize staff to release the Surety Bonds in the amount of $138,125.00 for Parcel Map No. 67049.
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 Surety Bonds in the amount of $138,125.00 for construction of off-site improvements for Parcel Map No. 67049.
4. 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 Surety Bonds. However, it is standard procedure to release the bond once the work is completed.
IV. BACKGROUND
The Colony Cove Mobilehome Park has 404 existing mobile home units on a 52.54-acre site located at 17700 Avalon Boulevard. Parcel Map No. 67049 allowed for the conversion of an existing rental mobilehome park to resident ownership; and allowed an additional 21 mobile home spaces. The conversion allowed each existing household the opt...
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