HomeMy WebLinkAboutAGENDA REPORT 2000 0405 CC REG ITEM 11FTO:
FROM:
DATE:
MOORPARK CITY COUNCIL
AGENDA REPORT
Honorable City Council
ITEM 1 /-
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Dirk Lovett, Assistant City Engineer
Prepared by Scott Lawson, Assistant Civil Engineer
March 21, 2000 (CC meeting of April 5, 2000)
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SUBJECT: CONSIDER BOND EXONERATION FOR DEMOLITION OF STRUCTURES
AT TRACT 4980 (WESTERN PACIFIC HOUSING)
BACKGROUND
The property is located north of Peach Hill Road and is bordered
by New Los Angeles Avenue to the north, Spring Road to the west
and Science Drive to the east. A location map is attached for
your reference (Exhibit A).
Tentative tract map 4980 was approved by the City Council on
October 2, 1996. Grading of the site commenced on January 21,
1999 under an Early Grading Agreement.
DISCUSSION
In July 1999, the developer requested permits to construct the
first phase of homes prior to City approval of the final map.
As conditions of approval of the request, the City Council
required a hold harmless statement and a surety guaranteeing the
demolition of the homes in the event the map never recorded.
Tract map 4980 was subsequently recorded in February 2000.
Houses can now be sold upon completion. As such, the demolition
surety is no longer necessary.
1 of 2 000196
All conditions for the exoneration of the security are complete;
therefore, it is appropriate to exonerate the security as
outlined in the following table:
Type
Bond No
Surety Co.
Current
Status
Recommended
Action
(Demolition of
Amwest Surety
Structures)
102007650
Insurance
$37,500.00
Exonerate
Company
STAFF RECOMMENDATION:
1. Authorize the City Clerk to release the aforementioned
security deposit in the amount of $37,500.00.
cc: Ken Gilbert
City Clerk
Chron
File 87.330
2 of 2 000197
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