10 - Laserfiche WebLink

THE CITY OF 10 HIN°° ��'"" CITY COUNCIL AGENDA REPORT PLEASANTON. November 16, 2021 Engineering TITLE: ACCEPT PUBLIC IMPROVEMENTS PERFORMED EY MERITAGE HOMES OF CALIFORNIA, INC. FOR TRACT 8245 LOCATED ON FIRST STREET AT STANLEY BOULEVARD AND KNOWN AS IRBY RANCH SUMMARY Ordinance No. 2157 and No. 2158, PUD -110, and Vesting Tentative Map 8245 authorized subdivision of three adjoining properties at 3988 First Street, 3780 Stanley Boulevard, and 3878 Stanley Boulevard, a combined 15 -acre parcel commonly known as Irby Ranch. The subdivision allowed construction of 87 single-family homes and related infrastructure on 10.6 acres, the creation of a 1.6 -acre parcel for Sunflower Hill, a separate multi -family project developed under Ordinance No. 2174, a 2.8 -acre open space lot along the Arroyo del Valle, and the extension of Nevada Street from Stanley Boulevard to California Avenue. Meritage Homes of California, I,1c. (Meritage) was the developer for the project and constructed the required subdivision improvements. The work has been inspected and determined to be in accordance with all conditions of approval and complete to the satisfaction of the Director of Engineering. It is recommended that City Council accept the work as complete. RECOMMENDATION 1. Accept the public improvements constructed for Tract 8245 90 calendar days after this action pursuant to California Government Code §66499.7. 2. Authorize the City Clerk to release the performance bond and the labor and materials bond 90 calendar days after this action, assuming no liens are filed. 3. Authorize the City Clerk to release the maintenance bond one year after this action, assuming no latent defects are discovered. FINANCIAL STATEMENT Meritage constructed a needed segment of 16 -inch diameter water main in Nevada Street, between California Street and Bernal Avenue, in exchange for reimbursement of costs up to a not -to -exceed amount of $840,930. The actual reimbursement amount totaled $835,414.47 and was funded from the Nevada Street Water Improvements, CIP No. 94115, previously known as the Del Valle Parkway Water Main Extension Project. The unspent amount of $5,515.53 will be returned to the fund balance. There will be a minimal increase in the operating budget for the maintenance of the public improvements. Tax revenue and utility use fees generally covers the increased cost to provide services and maintain infrastructure.