Resolution Number 18-05-15-051
RESOLUTION NO. 18-05-15-05
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN JUAN
CAPISTRANO, CALIFORNIA, DETERMINING COMPLETION OF WORK IN
ACCORDANCE WITH APPROVED PLANS AND SPECIFICATIONS FOR THE
CONSTRUCTION OF OFF-SITE IMPROVEMENTS ASSOCIATED WITH
TRACTS 14196, 15609, 15687, 16747, 16748, 16749, 16750, 16751, 16752,
PACIFICA SAN JUAN (PACIFIC POINT DEVELOPMENT PARTNERS, LLC)
WHEREAS, On April 21, 2015, the City of San Juan Capistrano entered into an
Amendment No. 2 and Reinstatement to the Improvement and Reimbursement Agreement
(Amendment No. 2) with LV Pacific Point LLC, the developer of property known as Pacifica San
Juan Residential Property Development ("Pacifica San Juan Project"), specifically referred to
under Vested Tentative Tract Maps 14196 and 15609 ("VTTM 14196" and "VTTM 15609"),
providing for construction of certain off-site street and traffic improvements; and,
WHEREAS, On May 5, 2015, Pacific Point Development Partners, LLC ("Developer"),
gained control of the 416 lot 257 -acre Pacifica San Juan Project associated with VTTM 14196
and VTTM 15609 which were previously split into nine (9) Final Tract Maps (Tracts 14196, 15687,
16748, 16749, 15609, 16747, 16750, 16751, and 16752) from LV Pacific Point LLC ("Former
Developer") and accepted the responsibility to complete the off-site street and traffic
improvements; and,
WHEREAS, On December 5, 2017, Pacific Point Development Partners, LLC, notified
the City that it has sold the residential lots within three tracts (Tracts 15609, 15687, and 16752)
of the Pacifica San Juan Project to Toll Bros., Inc. Pacific Point Development Partners, LLC, has
requested that the City determine that such certain off-site street and traffic improvements are
completed and the corresponding remaining surety bonds be released accordingly. The surety
release is as follows:
Bond Number Surety Type of Improvement Bond Amount
Bond #SUR21000024 Ironshore Offsite Street and Traffic $ 2,571,000.00
Bond #SU1139481 Arch Ins. 1-5/ La Novia Roundabout $ 2,187,800.00
Total $ 4,758,800.00
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of San Juan
Capistrano as follows:
SECTION 1. That the improvement work required to be performed by said developer has been
completed and approved.
SECTION 2. That the completed work with a value of $4,758,800 is accepted.
SECTION 3. That the sureties described in the chart above may be released accordingly.
5/15/2018
PASSED, APPROVED, AND ADOPTED this 15'h day of May 2018.
SERGIO FARIAS, MAYOR
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RIS, CITY CLERK
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
COUNTY OF SAN JUAN CAPISTRANO)
I, Maria Morris, appointed City Clerk of the City of San Juan Capistrano, do hereby certify
that the foregoing Resolution No. 18-05-15-05 was duly adopted by the
City Council of the City of San Juan Capistrano at a Regular meeting thereof, held the
5th dayi of May 2018, by the following vote-
YEA:
ote:
YE: COUNCIL MEMBERS
OE COUNCIL MEMBERS
�S N li.�OUNCIL MEMBERS
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Mari Morris, City Clerk
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Ferguson, Reeve, Maryott and Mayor Farias
None
Patterson
2 5/15/2018
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