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HomeMy WebLinkAbout2024 - 32201 - Crestwood Corporation - SIA Off-Site CLOSEDCity of La Quinta CITY COUNCIL MEETING: March 17, 2026 STAFF REPORT AGENDA TITLE: ACCEPT OFF-SITE IMPROVEMENTS ASSOCIATED WITH THE OASIS RESIDENTIAL DEVELOPMENT, TRACT MAP NO. 32201, LOCATED AT THE NORTHWEST CORNER OF AVENUE 60 AND MADISON STREET RECOMMENDATION Accept the off-site improvements associated with Tract Map No. 32201, Oasis; authorize staff to release the performance security; and direct staff to release the labor and materials security 90 days after City Council acceptance of the improvements. EXECUTIVE SUMMARY Oasis is a residential project located at the northwest corner of Avenue 60 and Madison Street (Attachment 1). Crestwood Corporation (Developer) has requested release of the performance, labor and materials securities. Since all off-site improvements have been completed, staff recommends acceptance, and release of the performance, labor and materials securities. FISCAL IMPACT – None. BACKGROUND/ANALYSIS The Developer has completed all off-site improvements required by Tract Map No. 32201. The improvements include pavement, curb and gutter, signing and striping, sidewalk, and landscaping. Staff inspected the off-site improvements and verified they meet City- approved plans and standards. ALTERNATIVES Accepting improvements is a ministerial action necessary for the release of the improvement securities. Since the improvements have been inspected and meet City standards, staff does not recommend an alternative action. Prepared by: Amy Yu, Associate Engineer Approved by: Bryan McKinney, P.E., Public Works Director/City Engineer Attachment: 1. Vicinity Map CONSENT CALENDAR ITEM NO. 6 25 V I C I N I T Y M A P NOT TO SCALE TRACT MAP NO. 32201 ATTACHMENT 1 26 MEMORANDUM evQuiaa cnuFORNJA DATE: October 14, 2024 TO: Monika Radeva, City Clerk FROM: Amy Yu, Associate Engineer RE: Assignment and Assumption Agreements and Amendment to Subdivision Improvement Agreements for Tract Map 32201 Please list the Contracting Party / Vendor Name, any change orders or amendments, and the type of services to be provided Make sure to list any related Project No and Project Name Authority to execute this agreement is based upon: ❑✓ Approved by City Council on October 15, 2024 Consent 6 ❑ City Manager's signing authority provided under the City's Purchasing & Contracting Policy [Resolution No. 2023-008] for budget expenditures of $50,000 or less. ❑ City Manager's signing authority provided under the City's Personnel Policy Section 3.2 for temporary employment positions. ❑ Department Director's or Manager's signing authority provided under the City's Purchasing Policy [Resolution No. 2023-008] for budget expenditures of $15,000 and $5,000, respectively, or less. Procurement Method (one must apply): ❑ Bid ❑ RFP ❑ RFQ ❑ 3 written informal bids ❑ Sole Source ❑ Select Source ❑ Cooperative Procurement Requesting department shall check and attach the items below as appropriate: ❑ Agreement payment will be charged to Account No.: ❑ Agreement term: Start Date October 15, 2024 End Date N/A ❑ Amount of Agreement, Amendment, Change Order, etc.: $__ REMINDER: Signing authorities listed above are applicable on the apprepate Agreement amount not individual Amendments or Change Orders! ❑ Insurance certificates as required by the Agreement for Risk Manager approval Approved by: _ Date: ❑✓ Bonds (originals) as required by the Agreement (Performance, Payment, etc.) ❑❑ Conflict of Interest Form 700 Statement of Economic Interests from Consultant(s) NOTE: Review the "Form 700 Disclosure for Consultants" guidance to determine if a Form 700 is required pursuant FPPC regulation 18701(2) ❑ Business License No. Expires: ❑ Requisition for a Purchase Order has been prepared (Agreements over $5,000) ASSIGNMENT AND ASSUMPTION AGREEMENT AMENDMENT TO SUBDIVISION IMPROVEMENT AGREEMENT TRACT MAP NO. 32201 OFF-SITE IMPROVEMENTS This ASSIGNMENT AND ASSUMPTION AGREEMENT AND AMENDMENT TO SUBDIVISION IMPROVEMENT AGREEMENT ("Assignment & Amendment") is made and entered into as of the .104day of.0api;6R_, 20 Zq by and among the CITY OF LA QUINTA, a municipal corporation of the State of California ("City"), SC HOMES FUND, LLC, a Delaware limited liability company ("Assignor"), and CRESTWOOD CORPORATION, a California corporation ("Assignee"). RECITALS A. City and Assignor entered into that certain Subdivision Improvement Agreement, dated February 22, 2016 ("SIA"), pursuant to which Assignor, as the "Subdivider" defined in the SIA, agreed to plan for, install, and construct certain public and/or private improvements on Tract Map No. 32201 ("Tract"), as more fully described in Exhibit "A" of the SIA ("Improvements"). B. Assignor desires to sell its interest in the Tract to Assignee. In conjunction with such transfer, Assignor desires to assign the SIA, and all of Assignor's rights and obligations thereunder, to Assignee and Assignee desire to assume Assignor's position with respect to the SIA and all of Assignor's rights and obligations under the SIA subject to the terms of this Assignment & Amendment. C. In connection with the foregoing described assignment and assumption, the City and Assignee have agreed to certain modifications to the SIA as set forth herein to be effective upon full execution of this Assignment & Amendment by all the parties hereto. AGREEMENT NOW, THEREFORE, in consideration of the foregoing Recitals and the covenants and promises hereinafter contained, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 1. Assignment and Assumption. Assignor hereby transfers and assigns to Assignee all of the Assignor's rights, title, and interest in and to, and obligations under, the SIA, and Assignee hereby assumes all rights, title, and interest in and to, and obligations under, the SIA. City hereby consents to the foregoing assignment and assumption. F220 2. ReMacement of Improvement..SecurIt Pursuant to the SIA, Assignor has furnished the City security for the Improvements in the form of: (a) Faithful Performance Bond in the amount of $198,356 for the following Improvements: OFF-SITE IMPROVEMENTS Performance Security Labor & Materials Security Improvement Description Amount Amount Street $78,414 $78,414 Sidewalk $15,135 $15135 Landscaping $56,720 $56,720 Standard 10% Contingency $15,027 $15,027 Professional Fees Design 10% $16,530 $16,530 Professional Fees Construction 10% 16 530 $16,530L $16 530 TOTAL $198,356 $198,356 (b) Other (Specify type and amount): �J0�e- For purposes of this Assignment & Amendment, such security in the aggregate shall be hereinafter referred to as "Improvement Security." Assignee hereby warrants that within five (5) days of this executed Assignment & Amendment, it shall replace Assignor's Improvement Security with security of its own in an amount equal to the Improvement Security, unless the City otherwise determines at its discretion and in writing that such security can be issued at a lesser amount. Assignee's security shall be in full compliance with the terms and conditions stated in the SIA for such security. The City agrees that upon receipt of evidence that Assignee has obtained such new security in a form satisfactory to the City, the City shall release Assignor's Improvement Security. 3. Solvency. As a material inducement to the City to enter into the Assignment & Amendment, Assignee hereby represents and warrants to City, and City hereby relies on Assignee's representation and warranty, that Assignee is solvent and has the financial capability of fulfilling each and every obligation and duty it takes on by way of the Assignment & Amendment. 4. Incorporation of SIA Provisions. The SIA, and each provision therein, unless otherwise modified in writing, is incorporated in this Assignment & Amendment in its entirety and Assignee agrees and warrants that it assumes and is bound by each obligation found in the SIA in the same manner as Assignor prior to this Assignment & Amendment. 5. Counterparts. This Agreement may be executed in one or more counterparts, which, taken together, shall constitute one complete and enforceable agreement. F2W -2- IN WITNESS WHEREOF, the parties hereto have executed this Assignment & Amendment on 15' day of _0CJ:b [3&4 -120 CITY: City of La Quinta 78-495 Calle Tampico La Quinta, CA 92253 (760) 777-7000 J0"CMILLEN, CITY MANAGER City of La Quinta, California ATTEST: MONIKA RADEVA, UTY GSL RK City of La Quinta, California APPROVED AS TO ORM: / WILLIAM H. IHRKE, City Attorney City of La Quinta, California [o 5- -.0ZA- Dat ASSIGNOR: SC H ES FUND LLC, a Delaware limited liability company 10 1 C vic Center Drive cho ucamonga, CA 91730 Aeri Develo ant Group, LLC, a California limited liability company : Matthew By: Member Date Date ASSIGNEE: CRESTWOOD CORPORATION, a California corporation 510 W. Citrus Edge Street G)endora, CA 91740 B Date By: F2W -3- Date CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE § 1189 A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California I1 County of _42aA On l (�l� before me, � Date 'T ,�Q� ,,H, ere Insert Name and itle of the fcer personally appeared rna � v�R�1 Name(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the personH whose name(* isMFo subscribed to the within instrument and acknowledged to me that he/&heMiep executed the same in hisAherAhei't. authorized capacity(ies#,-end that by his/kaerAheir signatures) on the instrument the persorqs�,arthe-entity upon behalf of which the persor44acted, execated the instrument. I certify under PENALTY OF PERJURY under the SIMONE BASSO laws of the State of California that the foregoing Notary Public - California paragraph is true and correct. San Bernardino County I a Commission # 2333315My Comm. Expires Oct 9, 2024 WITNESS my hand and official seal. . Signature Place Notary Seal and/or Stamp Above Signature of Notary Public OPTIONAL Completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: __ Document Date: Number of Pages: Signer(s) Other Than Named Above: _ _ Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Corporate Officer - Title(s): ❑ Partner - ❑ Limited ❑ General ❑ Individual ❑ Attorney in Fact ❑ Trustee ❑ Guardian of Conservator ❑ Other: Signer is Representing: 02017 National Notary Association Signer's Name: _ ❑ Corporate Officer - Title(s): ❑ Partner - ❑ Limited ❑ General ❑ Individual ❑ Attorney in Fact ❑ Trustee ❑ Guardian of Conservator ❑ Other: Signer is Representing: California All -Purpose Certificate of Acknowledgement A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of Los Angeles On September 26, 2024 before me, Haydee Alvarez - Notary Public Date Here Insert Name and Title of the Officer personally appeared Kathleen A. Garvey Name(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the persorills whose names is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies),and that by his/her/their signature(s) on the instrument the person(s) or the entity upon behalf of which the person(s acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. *M.y HAYDEE ALVAREZ Notary Public • California Los Angeles County Commission R 2368693 Comm. 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