HomeMy WebLinkAbout08-073 - Resolutions RESOLUTION NO. 08-073
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO CUCAMONGA, CALIFORNIA, APPROVING THE
REDUCTIONS IN IMPROVEMENT SECURITY FOR RANCHO
ETIWANDA ESTATES INFRASTRUCTURE (TENTATIVE
TRACTS 16226 AND 16227)
WHEREAS, The City Council of the City of Rancho Cucamonga, California,
previously approved an Improvement Agreement guaranteed by acceptable Improvement
Security by JTY Investment LLC, as developer, for the improvement of public right-of-way
adjacent to the real property described therein, and generally located north of the extension of
Day Creek Boulevard and west of Etiwanda Avenue; and
WHEREAS, the installation of such backbone infrastructure improvements,
described in said Improvement Agreement and subject to the terms thereof, has been partially
completed, in conjunction with the development of said real property referred to as Tracts
16226-1, 16226, 16227-1, 16227-2 and 16227, which have been approved with improvement
agreements of their own for interior improvements to private streets, and in right-of-way
dedicated across one future Tract 16226-2; and
WHEREAS, said Developer submits for approval a request for bond reduction of
the Improvement Security, to reflect the remaining work to be completed; and
NOW THEREFORE, the City Council of the City of Rancho Cucamonga hereby
resolves, that said request for bond reduction of the Improvement Security submitted by said
developer be and the same are hereby approved and the City Clerk is hereby authorized to
accept on behalf of the City a bond reduction rider to the original bond.
Please see the following page
for formal adoption,certification and signatures
Resolution No. 08-073
Page 2 of 2
PASSED, APPROVED, AND ADOPTED this 2nd day of April 2008.
AYES: Gutierrez, Kurth, Michael, Spagnolo, Williams
NOES: None
ABSENT: None
ABSTAINED: None
Donald J. Kurth, M.D., Mayor
ATTEST:
Debra JAdams, C\,MCuCity Clerk
I, DEBRA J. ADAMS, CITY CLERK of the City of Rancho Cucamonga,
California, do hereby certify that the foregoing Resolution was duly passed, approved and
adopted by the City Council of the City of Rancho Cucamonga, California, at a Regular Meeting
of said City Council held on the 2nd day of April 2008.
Executed this 3`d day of April 2008, at Rancho Cucamonga, California.
lyt,r���1�1c�o�
Deb a J. dams, CMC, City Clerk