City Council

5. TRACT MAP NO.83353, BOND REDUCTION - La Verne 58, LLC (Brandywine Homes),\nthe developer of Verdana (Tract Map No. 83353), a 50-unit three story interlocking\ntownhome project located on Fruit Street between Foothill Boulevard and Amherst Street,\nhas requested to reduce bonds that were established with the approval of the final map for\nthe project on June 6, 2022.\nRECOMMENDATION: That the City Council authorize the reduction of the bond amounts\nfor the Performance Bond and the Labor & Materials Bond to approximately 25% of each of\nthe bonds original value and retain the Survey Monument Bond at the full value.