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BACKGROUND <br /> On July 13, 2011, the Planning Commission recommended City Council approve PUD- <br /> 82, a Planned Unit Development (PUD) application by DiDonato Builders, Inc. to <br /> construct 13 single-family homes located on an approximately 1.2-acre site at 4171 and <br /> 4189 Old Stanley Blvd. On October 18, 2011, City Council approved PUD-82 and <br /> adopted Ordinance No. 2021. <br /> On July 11, 2012, the Planning Commission approved an application by DiDonato <br /> Builders, Inc. for Vesting Tentative Map 7968 to subdivide the site consistent with the <br /> PUD development plan for this site. In January 2013, Kontech purchased the property <br /> from DiDonato Builders, Inc. On May 3, 2016, City Council approved the final map, <br /> improvement plans, and subdivision agreement for Tract 7968. <br /> Partial Release of Improvement Security <br /> On May 3, 2018, Kontech informed staff that all public and private improvements were <br /> completed and requested release of 90 percent of the improvement security, which they <br /> provided in the form of a cash deposit. <br /> Section 66499.7 "Manner of release of security" of the Subdivision Map Act provides the <br /> process by which a developer may request, and how a legislative body may provide, the <br /> partial release of improvement security. <br /> Staff inspected the work and determined that approximately 90 percent of the <br /> improvements were complete and ready for acceptance. On August 21, 2018, City <br /> Council accepted 90 percent of the public improvements for normal maintenance. Out of <br /> the total deposit of$747,300 for improvement security, $672,570 was released 30 days <br /> after filing a Notice of Completion. A cash deposit of$74,730 remained for improvement <br /> security. <br /> DISCUSSION <br /> Staff recommends acceptance of the public improvements for Tract 7968 located at <br /> 4171 and 4189 Old Stanley Blvd. and recommends release of the remaining cash <br /> deposit in the amount of$74,730 held as improvement security. <br /> Submitted by: Fiscal R view: Approved by: <br /> //A A-h./ <br /> Stephen K patrick Tina Olson Nelson Fialho <br /> Director of Engineering Director of Finance City Manager <br /> Page 2 of 2 <br />