HomeMy WebLinkAboutAGENDA REPORT 2022 0921 CCSA REG ITEM 10KCITY OF MOORPARK, CALIFORNIA
City Council Meeting
of September 21, 2022
ACTION APPROVED STAFF
RECOMMENDATION, INCLUDING
ADOPTION OF RESOLUTION NO. 2022-
4135. (ROLL CALL VOTE: UNANIMOUS)
BY A. Hurtado.
K. Consider a Resolution Exonerating Surety Bond No. 81961930 for Grading for Toll
XX, LP - Tract No. 5463 (Masters). Staff Recommendation: 1) Adopt Resolution
No. 2022-4135, exonerating surety bonds 81961930; and 2) Authorize the City
Clerk to exonerate the Bond as shown in the agenda report and draft resolution.
(Staff: Daniel Kim, City Engineer/Public Works Director) (ROLL CALL VOTE
REQUIRED)
Item: 10.K.
MOORPARK CITY COUNCIL
AGENDA REPORT
TO: Honorable City Council
FROM: Daniel Kim, City Engineer/Public Works Director
DATE: 09/21/2022 Regular Meeting
SUBJECT: Consider a Resolution Exonerating Surety Bond No. 81961930 for
Grading for Toll XX, LP – Tract No. 5463 (Masters)
BACKGROUND & DISCUSSION
On December 6, 2006, the City Council adopted Resolution No. 2006-2541, approving
Residential Planned Development No. 2003-04 and Tentative Tract Map No. 5463 for
forty-nine (49) single-family homes on 43.04 acres north of Championship Drive and
east of Grimes Canyon Road. The private-community name of Tract 5463 is better
known as the Masters at Moorpark Country Club. Toll XX, L.P. is the developer of Tract
5463.
A Subdivision Improvement Agreement was made and entered by and between the City
and the project developer, Toll XX, L.P., for the construction, installation, and
completion of project improvements. As part of this Subdivision Improvement
Agreement, performance and guaranty securities were provided to the City in the form
of surety bonds. These surety bonds are used as a mechanism to guarantee the
construction of grading, street, drainage, and erosion control improvements for the final
development of the tract. In addition to surety bonds for final infrastructure
improvements, bonds for stormwater runoff corrective measures and site remediation
were required by an Early Grading Agreement for the development. With the majority of
grading and infrastructure improvements complete, Toll has requested reduction and
exoneration of several surety bonds.
On June 3, 2015, the City Council took the following actions, also summarized in the
Table on page 2:
• Exonerated Surety Bond No. PB00579800006 for Storm Water Corrective
Measures - $75,000.00.
• Exonerated Surety Bond No. PB00579800007 for Site Remediation -
$1,413,057.74.
Item: 10.K.
492
Honorable City Council
09/21/2022 Regular Meeting
Page 2
• Reduced Surety Bond No. 81961930 for Grading - $1,864,780.73 (50%).
• Reduced Surety Bond No. CMS0271453 for Improvements - $2,693,221.74
(50%).
Consistent with the Subdivision Improvement Agreements for Tract 5463, the City
Engineer is authorized to accept as complete the private improvements that are owned
by the individual property owners or a private community association and not dedicated
or owned by the City or other public entity. All work related to grading improvements
and covered by surety bond for grading improvements are complete and no warranty
work for these items are required. Street and storm drainage infrastructure
improvements are not complete, and the reduced amount of the surety bond will remain
in force. Staff recommends the following bonds to be exonerated:
Surety Type Bond No. Original
Bond
Amount
Prior Authorized
Action
Authorized
Action,
09/21/2022
Surety Bond –
Storm Water
Corrective
Measures
PB00579800006 $75,000.00 Exonerated on
6/3/2015
Not
Applicable
Surety Bond –
Site
Remediation
PB00579800007 $1,413,057.74 Exonerated on
6/3/2015
Not
Applicable
Surety Bond –
Grading
81961930 $3,729,561.45 Reduced to
$1,864,780.73 (50%)
on 6/3/2015
Exonerate
Surety Bond -
Improvements
CMS0271453 $5,386,443.47 Reduced to
$2,693,221.74 (50%)
on 6/3/2015
None
Surety Bond –
Monumentation
PB00579800005 $87,816.25 None None
FISCAL IMPACT
None.
COUNCIL GOAL COMPLIANCE
This action does not support a current strategic directive.
493
Honorable City Council
09/21/2022 Regular Meeting
Page 3
STAFF RECOMMENDATION (ROLL CALL VOTE REQUIRED)
1. Adopt Resolution No. 2022-____, exonerating surety bonds 81961930; and
2. Authorize the City Clerk to exonerate the Bond as shown in the agenda report
and draft resolution.
Attachment: Draft Resolution No. 2022-____
494
ATTACHMENT
RESOLUTION NO. 2022-____
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF MOORPARK, CALIFORNIA, EXONERATING THE
SURETY BOND – GRADING (BOND NO. 81961930) FOR
TRACT NO. 5463, TOLL XX L.P.
WHEREAS, the City Council adopted Resolution No. 2006-2541, approving
Residential Planned Development No. 2003-04 and Tentative Tract Map No. 5463 for
forty-nine (49) single-family homes on 43.04 acres north of Championship Drive and
east of Grimes Canyon Road; and
WHEREAS, the City Council approved Final Tract Map No. 5463 on
September 17, 2014; and
WHEREAS, the City Engineer/Public Works Director accepted the grading
improvements for Tract No. 5463 and deemed those improvements to be complete; and
WHEREAS, City staff now recommends that the City Council fully exonerate the
grading bond for Tract 5463.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The City Council of the City of Moorpark hereby exonerates
Surety Bond Number 81961930.
SECTION 2. The City Clerk shall certify to the adoption of this resolution
and shall cause a certified resolution to be filed in the book of original resolutions.
PASSED AND ADOPTED this 21st day of September 2022.
Janice S. Parvin, Mayor
ATTEST:
Ky Spangler, City Clerk
495