HomeMy WebLinkAbout4.07 Verona Yard Landscape
CITY CLERK
File # D~[Q][Q]-~~
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: May 20, 2008
SUBJECT:
Approval of Partial Release of Security for Tract 7283, Verona
(Pulte Homes), Rear Yard Landscaping
Report Prepared by: Mark Lander, City Engineer
ATTACHMENTS:
Resolution Approving the Partial Release of Security for Tract 7283,
Verona (Pulte Homes), Rear Yard Landscaping
RECOMMENDATION:
~~
FINANCIAL STATEMENT:
.~ Adopt the resolution approving the Partial Release of Security for
Tract 7283, Verona (Pulte Homes), Rear Yard Landscaping
Pulte Homes has remaining bonds in amounts sufficient to complete
the Tract 7382 Rear Yard Landscaping.
DESCRIPTION: On April 19, 2005, Pulte Homes entered into an Improvement
Agreement for Rear Yard Landscaping with the City of Dublin to construct improvements required by
Tract 7283, Verona, located in Area F North of Dublin Ranch. The agreement included the landscaping of
a number of private backyards with slopes visible to public view.
Pulte Homes provided a Performance Bond, and a Labor and Materials Bond issued by Arch Insurance
Company Deposit in the amount of $782,000 for the backyard landscaping work (Bond No. SU5009519).
The landscaping work is approximately 80% complete, and in accordance with authority contained in
S66499.7 of the Government Code, these bonds maybe reduced to $195,500, which is 25% of the original
bond. Pulte Homes has provided a new bond in this amount provided by Continental Insurance Company
(Bond No. 929447890).
Staff recommends that the City Council adopt the resolution approving the Partial Release of Security for
Tract 7283, Verona (Pulte Homes), Rear Yard Landscaping.
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COpy TO: Chris Schenone, Pulte Homes
Page 1 of 1
ITEM NO.
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G:\DEVELOPMENT, PRIV A TE\Dublin Ranch\Area F-North\Tract 7283 Pulte\agst bond reduction backyard landscaping, 5-20-08.doc
RESOLUTION NO. - 08
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A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
*********
PARTIAL RELEASE OF SECURITY FOR TRACT 7283,
REAR YARD LANDSCAPING,
VERONA
WHEREAS, the subdivider of Tract 7283, Pulte Homes, filed on April 26, 2005, in Book 281 of
Maps at Pages 11-19, previously entered into an Improvement Agreement for Rear Yard Landscaping
with the City of Dublin dated April 19, 2005, to improve said Tract in accordance with plans on file with
the City Engineer (Resolution 60-05); and
WHEREAS, the improvements for Tract 7283 are more than 80% complete in accordance with
said plans, and any approved modifications thereto, to the satisfaction ofthe City Engineer; and
WHEREAS, the Performance Bond, and the Labor and Materials Bond can be partially released,
in accordance with the authority contained in S66499.7 of the Government Code of the State of
California;
NOW, THEREFORE, BE IT RESOLVED that:
1. The original Labor and Materials Bond issued by Arch Insurance Company in the amount
of $782,000 for the rear yard landscaping improvements (Bond No. SU5009519) be
released and replaced by a Labor and Materials Bond issued by Continental Insurance
Company in the amount of$195,500 (Bond No.929447890); and
2. The original Performance Bond issued by Arch Insurance Company in the amount of
$782,000 for the rear yard landscaping improvements (Bond No. SU5009519) be released
and replaced by a Labor and Materials Bond issued by Continental Insurance Company in
the amount of$195,500 (Bond No.929447890).
PASSED, APPROVED AND ADOPTED this 20th day of May, 2008, by the following vote:
YES:
NOES:
ABSENT:
ABSTAIN:
ATTEST:
Janet Lockhart, Mayor
City Clerk
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ATTACHMENT (~
G:\DEVELOPMENT, PRIV ATE\Dublin Ranch\Area F-North\Tract 7283 Pulte\Reso tract bond reductions 5-20-08.doc