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17-1212_PACIFIC POINT DEVELOPMENT PARNTERS, LLC_Staff MemoMEMORANDUM DATE: December 12, 2017 TO: Ben Siegel, City Manager I V, O� FROM: Steve May, Public Works an 'es Dinector_,=V _ ^+b�,�ya'^� Joe Puree, City Engineer lv George Alvarez, Project anager.k re 9i / Nom/ Prepared: Joe Mankawich, Associate Engineer Y ,¢ SUBJECT: Subdivision Improvement Bond Reduction — Pacifica San Juan (Tracts 15609 and 16752) The purpose of this letter is to inform you that the developer, Pacific Point Development Partners LLC, has completed significant portions of subdivision improvements for Tracts 15609 and 16752 and are requesting reduction of the bonds for such improvements. The Subdivision Improvement Agreements for these tracts provides for the City Engineer's determination of such requests. Review of the request by the Public Works & Utilities Department has resulted in the following approved reductions: SURETY COVERAGE (Ironshore Indemnity Inc.) Bond Number Obligcc Description Original Principal Efective Percent New Amount Name Dare f'nmnlrer Ammhm City ofson Sheet subdivision improvements within Pacific Point SUR21000005 Juan Tract 15609asdefnedwit1un Amendment E451554.00 Development 5/192015 Capistrano tel and Rcituraw,cot of the Subdivision . Partners, Improvement Agrcemmnt for frnct 15609 LLC 60% $180,621.60 Storm Drnin subdivision improvements City of$an within Tract 15609 as defined within paciac Point SUR21000008 Juan Amendment 91 and Reinstatement ofthe $46,050.00 Development 5/192015 Capistrano Subdivision Improvement Agreement for Peters Tmct 15609 LLC 60°% $18,420.00 Sanitary Sena subdivision improvements City0fSan within Tract 15609 as defined within Punic pacific Point SUR21000010 Juan Amendmentq l and Reinstatement ofthe $24,293.00 DevelPartners, 5!192015 Capistrano Subdivision Improvement Agreement for 'Tract 15609 LLC 60% $9,717.20 Ckyofsan water subdivision improvements within Prof. Point SUR21MO12 luso Tract 15609 as defined within Amendment E60,665.00 Dovdapment 5/192015 Capin.0 l and Reinstatement ofthe Subdivision Partners, Improvement Agreement for Tract 15609 LLC 60% $24266.00 Cityofsan Soat subdivision improvements within Pacific Point SUR2100000] Jaen Tract 16752 as defined within Amendment $986,9]2.00 Mvelopmrnt 5!192015 Cepistrmo N 1 and Reinstatement of the Subdivision Partners, Impmvement Agreement far Tract 16752 LLC 90si, $93,1.93.20 The bond reduction is required before assignment of improvements to the proposed new developer, Toll Brothers. The approved bond reduction will insure that the remaining works of improvement will be adequately bonded. The Public Works Department will forward this request to the City Clerk for processing of a letter to the developer's surety delineating the reduction of the security. Should you have any questions please contact me. Attachments: Location Map Cc: Joel Rojas, Development Services Manager Tom Toman, Assistant Public Works Director Hossein Ajideh, Senior Civil Engineer Storm Drain subdivision improvements City of San within Tract 16752 as defined within Pacific Point SUR21000009 Juan Amendment # I and Reinstatement of the $71,118.00 Development 5/19/2015 Capistrano Subdivision Improvement Agreement for Partners Tract 16752 LLC 90a/o $7,111.80 Sanitary Sewer subdivision improvements City of San within Tract 16752 as defined within Pacific Point SUR21000014 Juan Amendment # I and Reinstatement of the $85,485.00 Development 5/19!2015 Capistrano Subdivision Improvement Agreement for Partners Tract 16752 LLC 60a/a $34,194.00 City of San Water subdivision improvements within Pacific Point SUR21000016 Juan Tract 16752 within Amendment #1 and $102,919.00 Development 5/19/2015 Capistrano Reinstatement of the Subdivision Partners, Improvement Agreement for Tract 16752 U.0 60°/a S41,167.60 The bond reduction is required before assignment of improvements to the proposed new developer, Toll Brothers. The approved bond reduction will insure that the remaining works of improvement will be adequately bonded. The Public Works Department will forward this request to the City Clerk for processing of a letter to the developer's surety delineating the reduction of the security. Should you have any questions please contact me. Attachments: Location Map Cc: Joel Rojas, Development Services Manager Tom Toman, Assistant Public Works Director Hossein Ajideh, Senior Civil Engineer 16750 !9 `9 6- T LEGEND O TTM9oundary TTM 15609 Tm Na. Land Ehe ft. .1l lu ® 16]4] QunVy 'Llnil, 0 15609 Wnh Uld. a Unih O 11756HwwrVina 46 Uni4 O 11751 Vdley 22 Unih O 1052 WIZ 82 Unih 1 16748 Y,N 41 Unih TTM 14196 T tNa. Laud Ue Na. oLLMib O 16]49 Vnla 29 Unib O 14196 Ytla 44 Unib O 1560 Cvdm E,g, 0 19661 s l5te 81x1: 416 Ul W isaa Pacifica San Juan wtevaw ua TRACT/LOT NO. EXHIBIT (Final Tract Lot Numbers) o ®-_• �..%:.1 s- City of San Juan Capistrano