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CITY OF COLTON <br />AGENDA REPORT <br />FOR COUNCIL MEETING OF NOVEMBER 01, 2005 <br />ITEM #22 <br />TO: HONORABLE MAYOR AND CITY COUNCIL <br />FROM: AMER JAKHER, P.E., CITY ENGINEER <br />SUBJECT: FINAL ACCEPTANCE AND APPROVAL OF TRACT NO. 16315 <br />AND AUTHORIZATION TO RELEASE THE PERFORMANCE <br />BOND FOR THE DEVELOPMENT OF THIS TRACT BY YOUNG <br />HOMES LLC. <br />DATE: <br />BACKGROUND: <br />OCTOBER 7, 2005 <br />Tract 16315 is located at Randall Avenue and Meridian Avenue and consists of 42 single-fam <br />Conditions of Approval for the Tract. ily <br />residential lots. The Developer, Young Homes L.L.C., have completed all the requirements and <br />DISCUSSION/ANALYSIS: <br />As required the City received a faithful performance bond, labor and material, for the development <br />of tract 16315. All records of this tract have been constructed and inspected, thus the complete <br />development of tract 16315 has been approved. The Developer, Young Homes L.L.C., has <br />provided a performance bond for this tract. The amount of the performance bond is $$266,412.00; <br />bond number 554496S. <br />FINANCIAL IMPACT: <br />None. <br />ENVIRONMENTAL IMPACT: <br />Not Applicable. <br />CONFLICT OF INTEREST: <br />Exact Business Name: <br />President or Equal: <br />Contact or Representative: <br />7/10/03 City Clerk's Office Cb <br />Young Homes, L.L.C. <br />Reggie King <br />Reggie King <br />