HomeMy WebLinkAboutItem 4.5 Sorrento West Amalfior
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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
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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