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01-25-1994 CC Rpt A13CITY OF CHINO INCORPORATED 1991 2001 Grand Avenue Chino Hills, CA 91709 (909) 590-1511 • Fax (909) 590-5646 ILLS.., '94 JAN 12 .J[ 1 r APPROVED FOR CITY COUNCIL Finance: 1-11 LLS City Manager: JANUARY 10, 1994 AGENDA DATE: JANUARY 25, 1994 TO: CITY MANAGER/CITY COUNCIL FROM: CHRIS A. VOGT, P.E., DIRECTOR OF PUBLIC WORKS/CITY ENGINEER SUBJECT: PARTIAL BOND REDUCTIONS - TRACT 13906-3, LOS RANCHOS RECOMMENDATION: 1. Authorize a partial reduction of the faithful performance bond for the landscape/streetscape Phase I and II improvements for Tract 13906-3 located in the City of Chino Hills, Los Ranchos. 2. Accept bond riders reflecting new amounts. DISCUSSION/JUSTIFICATION: The original agreements were accepted by the County of San Bernardino on February 20, 1990. Replacement agreements and securities under a new bonding company were accepted by City Council on August 24, 1993. The developer has requested a partial reduction of the landscape/streetscape Phase I and II improvement securities for this project. The Parks and Landscape Division has inspected the improvements and agree that the improvements are 50 percent complete. The partial reduction of the faithful performance bond does not affect the labor/material and guarantee/warranty amounts. These bond amounts will remain in force. Owner: M.J. Brock & Sons 23382 Mill Creek Drive, Suite 130 Laguna Hills, CA 92653 Reduced Amount: Landscape/streetscape Phase I & II (B2366339) Council Members Ed Graham Gary G. Larson Gwenn Norton -Perry 50% $255,500 Jim Thalman Mike Wickman1+/ CITY MANAGER/CITY COUNCIL JANUARY 10, 1994 AGENDA DATE: JANUARY 25, 1994 PAGE TWO SUBJECT: PARTIAL BOND REDUCTIONS - TRACT 13906-3, LOS RANCHOS REVIEW BY OTHERS: This item was reviewed by John Greenhut, Parks and Landscape Manager, and Linda LaPorte, Development Services Technician. FINANCIAL IMPACT: There is no financial impact. Respectfully submitted, / '4, /� CHRIS A. VOGT, P.E., DIRECTOR OF PUBLIC WORKS/CITY ENGINEER CAV/LL/tr Attachments TERESA\AG ENDA: PARTIALI . LL TRACT 13906-3 SEE STREETSHEET moor SEE STORA/DAAhV Sit+EEr i SEE SHEET s TRACT 13906-3 VICINITY MAP nor To Wxr 40 41 44 — A 71 h» -------------- n ; 41 00 S. � a � /AZ �. v r x s is n s gym' .7 D f Yis sacw.w.o. is'S-&co.E — - TRACT 13906-3 VICINITY MAP nor To Wxr