1993 AGN JUL 06 I15 - Laserfiche WebLink

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ITY OF COLTON AGENDA REPORT For Council Meeting of July 6, 199 TO: HONORABLE MAYOR AND CITY COUNCIL FROM: JOHN SUTTON PUBLIC WORKS DIRECTOR �* SUBJECT: AUTHORIZATION FOR STAFF TO PROCEED 1 CONTRACT BIDS FOR C.F.D. 89-11 MANNING BACKGROUND: milia rror#tb ..._10. 1897 40dor 4 d i o=� DATE: June 29, 1993 - SELECTION APPROVAL OF :S PROJECT The Manning Homes Project (Maricopa) is locatedinthe Cooley Ranch area, between Hunts Lane, Cooley Drive and Cooley Lane and Washington Avenue consisting of approximently 200 + homes. As a condition of their development approval the Ma ping Company entered into a.Community Facilities District acquisition projec C.F.D. 89-1. The agreementrequired that the Manning Company install the major street improvements along the perimeter of their project i.e. Hunts Lane Cooley Lane and Cooley Drive and upon City acceptance as completed, Manning Homes would be reimbursed from the C.F.D. fund. DISCUSSION: The Manning Company due to the economy or decline in Home sales lost the project to their financial lender, Pacific First Bank, which in turn sold or turned the project over to R.T. Capital Corporation recently. R.T. Capital Corporation will now become the responsible party to insure the completion of C.F.D. 89-1 Public Improvement of which bids have been advertised, received, but not awarded. Daryl Parrish assistant to the City Manager has been working with R.T. Capital in an attempt to get them to award the project and expedite the completion of the street improvements, particularly those along Cooley Drive, so they could be completed prior to the scheduled opening of the new, elementary school in October. As of this date, R.T. Capital has been reluctant to award the contract. Time is becoming short if the improvements are to be ins alled prior to the school opening. ALTERNATIVE: in the event that R.T. Capital does not proceed in an expeditious manner to award the contract, and as a means to insure that th street improvements are