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Home My WebLink About4.5 Sorrento West Amalfior 19 82 /ii � 111 DATE: TO: FROM: STAFF REPORT CITY COUNCIL October 15, 2013 Honorable Mayor and City Councilmembers Joni Pattillo City Manager""' CITY CLERK File #600 -60 SUBJECT: Acceptance of Tract Improvements for Tract 7646, Sorrento West Neighborhood 5, "Amalfi," (Toll Brothers, Inc.) Prepared by Jayson Imai, Senior Civil Engineer EXECUTIVE SUMMARY: Toll Brothers, Inc. has constructed the improvements for Tract 7646, Sorrento West Neighborhood 5, "Amalfi," in accordance with their Tract Improvement Agreement. It is now appropriate for the City to accept these improvements. FINANCIAL IMPACT: Toll Brothers, Inc. has provided a Maintenance Bond (Bond No. 6460330M) in the amount of $95,500.00, issued by Safeco Insurance Company of America, to guarantee the improvements associated with Tract 7646 for one year. Because there were no public streets constructed as part of Tract 7646, the City will not incur any maintenance costs associated with the tract improvements. RECOMMENDATION: Staff recommends that the City Council adopt the Resolution Accepting the Tract Improvements for Tract 7646, Sorrento West Neighborhood 5, "Amalfi" (Toll Brothers, Inc.). Submitted By Director of Public Works DESCRIPTION: Reviewed By Assistant City Manager Toll Brothers, Inc., entered into an Improvement Agreement with the City of Dublin on March 6, 2007, for the construction of tract improvements associated with Tract 7646, also known as Neighborhood 5, "Amalfi" of the Sorrento West development. Toll Brothers, Inc. provided a Faithful Performance Bond and Labor & Materials Bond to guarantee construction of the improvements. Page 1 of 2 ITEM NO. 4.5 The tract improvements are now complete and the developer is requesting that the bonds for this work be released. IMPROVEMENTS ORIGINAL AMOUNTS STATUS Performance Labor & Materials Bond Bond (Bond No.) (Bond No.) Neighborhood 5 $382,000 $382,000 To Be (6460330) (6460330) Released Toll Brothers has provided a Maintenance Bond in the amount of $95,500.00 (Bond No. 6460330M) issued by Safeco Insurance Company of America. The bond amount is equal to twenty five percent (25 %) of the full cost of completion of the improvements. NOTICING REQUIREMENTS /PUBLIC OUTREACH: A copy of this staff report has been sent to Toll Brothers, Inc. ATTACHMENTS: 1. Reduced Copy of Tract 7646 2. Resolution for the Acceptance of Tract Improvements for Tract 7646, Sorrento West Neighborhood 5, "Amalfi" (Toll Brothers, Inc.) Page 2 of 2 . 'f rock %Ire 764 -mae 5 - ag-1 g 14 - 17 $ YYY uu $ 3 bm EF' s y ` ji Nis 0 Val 11 11 h1w o o tilt `� $< I' � g ' al O�gi 1 All Ps ljp�jx�- th ca� gg � � � pp� fps � � ��, � �� € � •- � $ RH g MIDI < g 1 018 - $ F 4 € ®® iilit <� I lli 11M, < . 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N�rp star CO M -Sd+ lAY shy I — - zf ! �gp•1gi� 528.77 •I ` -- �Il` ! t iI MUG fA I j ,gaw YfG[1N%d - ________.. — V...—__-- - - -_.� 4 A w em i A- . pnuGlk _ 2 STRW li4, P �z PSRUGIA ` SPRM i 3Y iU 1 I � l t +f 1 r�t i F d 4 A w em i A- . pnuGlk _ 2 STRW li4, P �z PSRUGIA ` SPRM RESOLUTION NO. - 13 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DUBLIN ACCEPTANCE OF TRACT IMPROVEMENTS FOR TRACT 7646, SORRENTO WEST NEIGHBORHOOD 5, "AMALFI" (TOLL BROTHERS, INC.) WHEREAS, Sorrento at Dublin Ranch I, LP, a California Limited Partnership owned by wholly -owned subsidiaries of Toll Brothers, Inc., the developer of Tract 7646, previously entered into a Tract Improvement Agreement dated March 6, 2007, Resolution No. 24 -07, with the City of Dublin, to complete tract improvements associated with Tract 7646, in accordance with plans on file with the City Engineer; and WHEREAS, the developer provided a Faithful Performance Bond and a Labor and Materials Bond issued by Safeco Insurance Company of America, each in the amount of $382,000.00 to guarantee the installation of these improvements; and WHEREAS, the improvements are complete in accordance with said plans, and any approved modifications thereto, to the satisfaction of the City Engineer; and WHEREAS, the Faithful Performance Bond and Labor and Materials Bond can be released, in accordance with the authority contained in Section 66499.7 of the Government Code of the State of California, and replaced with a warranty bond to guarantee the completed work for a one -year period; and WHEREAS, Toll Brothers, Inc., has provided a Maintenance Bond in the amount of $95,500.00 issued by Safeco Insurance Company of America (Bond No. 6460330M) to guarantee the improvements for a one -year period. NOW, THEREFORE, BE IT RESOLVED that: 1. The improvements for Tract 7646 are hereby approved and accepted subject to a one -year guarantee period; and 2. The Faithful Performance Bond issued by Safeco Insurance Company of America (Bond No. 6460330) in the amount of $382,000.00 for the tract improvements, be released; and 3. The Labor and Materials Bond issued by Safeco Insurance Company of America (Bond No. 6460330) in the amount of $382,000.00 for the tract improvements, be released; and 4. The submitted Maintenance Bond in the amount of $95,500.00 (Bond No. 6460330M) issued by Safeco Insurance Company of America, for the Tract 7646 improvements, be accepted as security for the aforesaid one -year warranty 1 vote period, said period to commence on this date and terminate on the 15th day of October, 2014. PASSED, APPROVED AND ADOPTED this 15th day of October, 2013, by the following AYES: NOES: ABSENT: ABSTAIN: ATTEST: City Clerk 2 Mayor