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