HomeMy WebLinkAbout16-111 - Resolutions RESOLUTION NO. 16-111
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO CUCAMONGA, CALIFORNIA, APPROVING THE
REDUCTIONS IN IMPROVEMENT SECURITIES FOR TRACT
16114 PUBLIC IMPROVEMENTS
WHEREAS, The City Council of the City of Rancho Cucamonga, California, previously
approved an Improvement Agreement guaranteed by acceptable Improvement Securities by
Trimark Pacific Rancho Cucamonga, LLC, as developer, for the improvement of public right-of-
way adjacent to the real property described therein, and generally located on the east side of East
Avenue, south of Wilson Avenue; and
WHEREAS, the installation of frontage public 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 Tract 16114; and
WHEREAS, a new developer, Desert Candle, LP has requested approval for a bond
reduction of the Improvement Securities, 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 Securities submitted by said new
developer be and the same are hereby approved and the City Clerk is hereby authorized to accept
on behalf of the City the new reduced bond.
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Resolution No. 16-111 — Page 1 of 2
PASSED, APPROVED, AND ADOPTED this 20th day of July 2016.
AYES: Alexander, Kennedy, Michael, Spagnolo, Williams
NOES: None
ABSENT: None
ABSTAINED: None
L. Dennis Michael, M. or
ATTEST:
icece C. Reynolds, C y 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 20th day of July 2016.
Executed this 2151 day of July 2016, at Rancho Cucamonga, California.
i ? r ° -
nice C. Reynold City Clerk
Resolution No. 16-111 — Page 2 of 2