The Menifee City Council approved a security agreement for the planned Ladera subdivision.The 5-0 vote on September 16 authorizes the city manager to execute a Subdivision Improvement Agreement to guarantee the completion of the required public landscape improvements for the tract map south of McCall Boulevard and west of Valley Boulevard. The agreement includes security bonds to guarantee completion and payment for labor and materials.The tract map subdivides 161.34 gross acres into 192 residential lots. Off-site improvements, including landscaping, are required. The security bonds guarantee the completion of the required improvements within 24 months, although a time extension may be requested. The labor and materials bond and the faithful performance bond each have an amount of
