07-16-2019 - Item 06 - Consideration of Release of Performance and Warranty Security Assigment Of Deposit For Porto's BakeryAGENDA ITEM NO. 6
AGENDA STAFF REPORT
City of West Covina | Office of the City Manager
DATE:July 16, 2019
TO:Mayor and City Council
FROM:David Carmany
Interim City Manager
SUBJECT:CONSIDERATION OF RELEASE OF PERFORMANCE AND WARRANTY SECURITY
ASSIGNMENT OF DEPOSIT FOR PORTO'S BAKERY & CAFE - PRECISE PLAN NO.
16-02 LOCATED AT 584 S. SUNSET AVENUE - WC 1984, LLC
RECOMMENDATION:
It is recommended that the City Council accept on-site and off-site improvements for Porto's Bakery & Cafe,
located at 584 S. Sunset Avenue, and authorize the release of Performance and Warranty Security Assignment of
Deposit in the amount of $123,442.
DISCUSSION:
WC 1984, LLC submitted an application to build Porto's Bakery & Cafe at 584 S. Sunset Avenue. The
development included the construction of a two-story 21,943 square-foot building, landscaping, irrigation, concrete
walkways, and parking lot lighting. On November 11, 2017, WC 1984, LLC entered into an Improvement
Agreement with the City for the required on-site and off-site improvements in accordance with the conditions of
approval for the development. A form of security was required to be posted to guarantee construction of the
required improvements to the satisfaction of the City Engineer. WC 1984, LLC posted a Performance and
Warranty Security Assignment of Deposit in the amount of $123,442 to guarantee completion of the required
improvements.
All improvements have been completed in accordance with the Improvement Agreement and to the satisfaction of
the City Engineer; therefore, WC 1984, LLC is requesting the release of the deposit.
OPTIONS:
The City Council has the following options:
Approve Staff’s recommendation; or1.
Provide alternative direction.2.
Prepared by: Miguel Hernandez, Public Works Project Supervisor
Fiscal Impact
FISCAL IMPACT:
None.
CITY COUNCIL GOALS & OBJECTIVES: Engage in Proactive Economic Development