City Council

8.\nBond Reduction Consideration for Tract Map No. 83604 (2820 Amherst Street). KB Home\nGreater Los Angeles Inc., the developer of the 5.57 acre site located at 2820 Amherst Street\n(Tract Map No. 83604), a 42 unit detached single family residential project, has requested to\nreduce bonds that were established with the approval of the final map for the project on\nSeptember 19, 2022.\nRecommendation: That the City Council authorize the reduction of the bond amounts for the\nPerformance Bond and the Labor & Materials Bond to approximately 10% of each original value\nand authorize City Staff to release the remaining portion of the bonds valued one year after this\naction.