HomeMy WebLinkAbout14-216 - Resolutions RESOLUTION NO. 14-216
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO CUCAMONGA, CALIFORNIA, AUTHORIZING THE
RELEASE OF THE FAITHFUL PERFORMANCE AND LABOR
AND MATERIAL BONDS FOR RANCHO ETIWANDA ESTATES
INFRASTRUCTURE (TENTATIVE TRACT 16226)
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 Rancho Etiwanda Estates Infrastructure (Tentative Tracts
16226 and 16227) generally located north of the extension of Day Creek Boulevard and west of
Etiwanda Avenue; and
WHEREAS, the majority of the backbone infrastructure improvements described in said
Improvement Agreement were completed in conjunction with the development of Tracts 16226,
16226-1, 16227-1, 16227-2 and 16227 and partially completed within right-of-way dedicated
across future Tract 16226-2; and
WHEREAS, on April 15, 2009, JTY Investment, LLC, entered into a substitute
Improvement Agreement guaranteed by acceptable Improvement Security for Rancho Etiwanda
Estates Infrastructure (Tentative Tract Map 16226) for work to be completed with Tract 16226-2;
and
WHEREAS, BMC Rancho Etiwanda, LLC, as developer, has entered into an Improvement
Agreement guaranteed by acceptable Improvement Security to complete the remaining street and
storm drain improvements within Tract 16226-2, including those improvements listed in the
Rancho Etiwanda Estates Infrastructure agreement with JTY Investment, LLC,
NOW, THEREFORE, the City Council of the City of Rancho Cucamonga hereby resolves,
that the City Clerk is hereby authorized to release the Faithful Performance and Labor and
Materials bonds executed by JTY Investment, LLC
Resolution No. 14-216 — Page 1 of 2
PASSED, APPROVED, AND ADOPTED this 31 day of December 2014.
AYES: Alexander, Kennedy, Michael, Spagnolo, Williams
NOES: None
ABSENT: None
ABSTAINED: None
Dennis Michael, ayor
ATTEST:
MA.k-lk- e , "60=s"
J#oce C. Reynolds, Cit Clerk
I, JANICE C. REYNOLDS, 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 31d day of December 2014.
Executed this 4'" day of December 2014, at Rancho Cucamonga, California.
ice C. Reynolds, City Jerk
Resolution No. 14-216 — Page 2 of 2