Laserfiche WebLink
ITEM #21 <br />CITY OF COLTON <br />AGENDA REPORT <br />FOR THE CITY COUNCIL MEETING OF JUNE 5, 2007 <br />TO: HONORABLE MAYOR AND CITY COUNCIL MEMBERS <br />FROM: AMER JAKHER, P.E., CITY ENGINEER <br />SUBJECT: AUTHORIZATION FOR REDUCTION OF SET ASIDE FUNDS <br />FOR THE DEVELOPMENT OF THE SUBDIVISION <br />IMPROVEMENTS FOR TRACT 17187, 26 COLTON LLC. <br />DATE: MAY 31, 2007 <br />BACKGROUND: <br />Tract 17187 is located at 488 and 502 W. Johnston Street, west of Pennsylvania Avenue. This <br />development consists of twenty-two single-family residential lots. The tract is being constructed by <br />N Star Homes. <br />The Developer submitted a set aside letter for the subdivision improvements for Tract Map 17187, <br />which was approved by the City Council on March 20, 2007. The City has required the developer to <br />enter into a subdivision agreement to assure completion of the conditioned improvements. <br />ANALYSIS/DISCUSSION: <br />The Developer has completed 100.00 % of the storm drain improvements and has complied with <br />the City's requirements. At this time the developer is requesting a partial release of the set aside <br />funds in the amount of $214,160.00. <br />Staff recommends approval of the reduction of the set aside funds for Tract 17187. In addition, <br />staff recommends the City Engineer be authorized to approve the release of bonds of future <br />security phases for this subdivision. <br />ENVIRONMENTAL IMPACT: <br />An Environmental Impact Report was prepared as part of the Tract Development. <br />