HomeMy WebLinkAboutItem 4.5 Wallis Ranch Tr 7714 Improv Agmt
STAFF REPORT CITY CLERK
File #600-60
CITY COUNCIL
DATE:February 16, 2016
TO:
Honorable Mayor and City Councilmembers
FROM:
Christopher L. Foss, City Manager
SUBJECT:
Approval of Tract Improvement Agreement for Tract 7714, Wallis Ranch,
Neighborhood 4
Prepared by Jayson Imai, Senior Civil Engineer
EXECUTIVE SUMMARY:
Pulte Home Corporation has purchased Tract 7714, Wallis Ranch Neighborhood 4 from
Development Solutions WR, LLC. Pulte Home Corporation has executed a Tract Improvement
Agreement and posted security to guarantee construction of site improvements associated with
Tract 7714, allowing the security previously posted by Development Solutions WR, LLC to be
released.
FINANCIAL IMPACT:
Pulte Home Corporation has signed a Tract Improvement Agreement and has posted bonds to
guarantee the construction of site improvements within Tract 7714. Pulte Home Corporation will
be responsible for all construction inspection costs related to the site improvements required for
Tract 7714. The Homeowners’ Association will be responsible for maintaining the private
streets and project-related landscape features.
RECOMMENDATION:
Resolution
Staff recommends that the City Council adopt the Approving the Tract Improvement
Agreement for Tract 7714, Wallis Ranch, Neighborhood 4.
Submitted By Reviewed By Reviewed By
Public Works Director Administrative Assistant City Manager
Services Director
DESCRIPTION:
Development Solutions WR, LLC, a Delaware Limited Liability Company, is the owner of Tract
7714, Wallis Ranch, Neighborhood 4 (Attachment 1). On November 17, 2015, Development
Solutions WR entered into a Tract Improvement Agreement with the City (Resolution
ITEM NO. 4.5
Page 1 of 2
No. 175-15) to guarantee the construction of tract improvements associated with Tract 7714.
Development Solutions WR has not yet initiated construction of these site improvements.
Development Solutions WR has since sold Tract 7714 to Pulte Home Corporation and wishes to
transfer to the buyer its obligations under the original Tract Improvement Agreement. Per
Section 6 of the Tract Improvement Agreement, the City must approve all such assignments of
rights, interests and obligations.
Development Solutions WR previously provided a Faithful Performance Bond and a Labor and
Materials Bond for the construction of the on-site improvements associated with Tract 7714.
Pulte Home Corporation has provided their own Faithful Performance Bond and Labor and
Materials Bond to replace the bonds previously provided by Development Solutions WR and to
secure the construction of site improvements for Tract 7714.
Bond
Bond Developer Number Amount of Bond Status
Faithful Performance Development To Be
Bond Solutions WR K09217356 $ 1,628,282.00 Released
Labor & Materials Development To Be
Bond Solutions WR K09217356 $ 1,628,282.00 Released
Faithful Performance Pulte Home
Bond Corporation 268005914 $ 1,628,282.00 Submitted
Labor & Materials Pulte Home
Bond Corporation 268005914 $ 1,628,282.00 Submitted
Pulte Home Corporation will be responsible for all construction inspection costs related to the
site improvements required for Tract 7714. All streets internal to Tract 7714 will be privately
owned and maintained by the Homeowner’s Association.
With the approval of the Tract Improvement Agreement with Pulte Home Corporation, the City
may authorize the release of the bonds previously provided by Development Solutions WR to
guarantee construction of the improvements for Tract 7714.
Staff has prepared a Resolution Approving the Tract Improvement Agreement for Tract 7714,
Wallis Ranch, Neighborhood 4 (Attachments 2 and 3).
NOTICING REQUIREMENTS/PUBLIC OUTREACH:
Public noticing occurred as part of the Tentative Map process. Copies of this report have been
provided to Pulte Home Corporation and Development Solutions WR, LLC.
ATTACHMENTS:
1. Copy of Final Tract Map 7714
2. Resolution Approving Tract Improvement Agreement for Tract 7714,
Wallis Ranch, Neighborhood 4
3. Exhibit “A” to Resolution, Tract Improvement Agreement, Tract 7714
Page 2 of 2
RESOLUTION NO. - 16
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
* * * * * * * * *
APPROVING TRACT IMPROVEMENT AGREEMENT
FOR TRACT 7714, WALLIS RANCH, NEIGHBORHOOD 4
WHEREAS
, the CITY and Development Solutions WR, LLC, a Delaware Limited Liability
Company, the owner of Tract 7714, entered into a Tract Improvement Agreement on November
17, 2015 (hereinafter the “Original Tract Improvement Agreement”), to complete those site
improvements (hereinafter “The Improvements”) required by City of Dublin Planning
Commission Resolution No. 14-18 adopted on April 29, 2014, in accordance with the
requirements and conditions set forth in said resolution; and
WHEREAS,
Development Solutions WR, LLC has not yet commenced construction of
The Improvements; and
WHEREAS
, Pulte Home Corporation, has acquired Tract 7714 from Development
Solutions WR, LLC, and Development Solutions WR, LLC, desires to transfer to Pulte Home
Corporation its obligations under the Original Tract Improvement Agreement; and
WHEREAS
, Pulte Home Corporation has executed and filed with the City of Dublin a
Tract Improvement Agreement for Tract 7714 to construct The Improvements as required in
accordance with the Conditions of Approval for the Tentative Map, and with the improvement
plans attached thereto (hereinafter the “Tract Improvement Agreement”); and
WHEREAS,
said Tract Improvement Agreement is secured by a bond furnished by
(.
Liberty Mutual Insurance Company in the amount of $1,628,282.00 Bond No268005914),
conditioned upon faithful performance of said Tract Improvement Agreement; and
WHEREAS,
said Tract Improvement Agreement is secured by a bond furnished by
(.
Liberty Mutual Insurance Company in the amount of $1,628,282.00 Bond No268005914),
conditioned upon payment for labor performed or material furnished under the terms of said
Tract Improvement Agreement.
NOW, THEREFORE, BE IT RESOLVED
that said Tract Improvement Agreement and
bonds are hereby approved.
BE IT FURTHER RESOLVED
that the City Manager of the City of Dublin is hereby
authorized to execute said Tract Improvement Agreement, attached hereto as Exhibit “A.”
BE IT FURTHER RESOLVED
that Development Solutions WR, LLC, is released from
the rights, interests and obligations of the Original Tract Improvement Agreement.
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BE IT FURTHER RESOLVED
that the original Faithful Performance Bond and Labor
and Materials Bond provided by Development Solutions WR, LLC, and issued by Westchester
Fire Insurance Company in the amounts of $1,628,282.00 (Bond Nos. K09217356) for site
improvements related to Tract 7714 be released.
PASSED, APPROVED AND ADOPTED
this 16th day of February, 2016, by the following
vote:
YES:
NOES:
ABSENT:
ABSTAIN:
________________________________________
Mayor
ATTEST:
_______________________________________
City Clerk
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