HomeMy WebLinkAboutAGENDA REPORT 2024 0501 CCSA REG ITEM 10GCITY OF MOORPARK, CALIFORNIA
City Council Meeting
of May 1, 2024
ACTION APPROVED STAFF
RECOMMENDATION, INCLUDING
ADOPTION OF RESOLUTION NO. 2024-
4240. (ROLL CALL VOTE: 4-0,
COUNCILMEMBER MEANS ABSENT)
BY A. Hurtado.
G. Consider a Resolution Reducing Surety Bond - Improvements (Bond No.
CMS0271453) and Exonerating Surety Bond - Monumentation (Bond No.
PB00579800005) for Toll XX, LP - Tract No. 5463 (Masters). Staff
Recommendation: 1) Adopt Resolution No. 2024-4240, Reducing Surety Bond -
Improvements (Bond No. CMS0271453) and Exonerating Surety Bond -
Monumentation (Bond No. PB00579800005) for Toll XX, LP - Tract No. 5463
(Masters); and 2) Authorize the City Clerk to reduce and exonerate the bonds as
shown in the agenda report and draft resolution. (Staff: Daniel Kim, City
Engineer/Public Works Director) (ROLL CALL VOTE REQUIRED)
Item: 10.G.
MOORPARK CITY COUNCIL
AGENDA REPORT
TO: Honorable City Council
FROM: Daniel Kim, City Engineer/Public Works Director
DATE: 05/01/2024 Regular Meeting
SUBJECT: Consider a Resolution Reducing Surety Bond – Improvements (Bond
No. CMS0271453) and Exonerating Surety Bond – Monumentation
(Bond No. PB00579800005) 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.
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 monumentation and
storm drainage infrastructure improvements have been reviewed, constructed,
inspected, and accepted by City staff. Street improvements are not complete and the
recommended, reduced amount of the surety bond reflects the estimated value of the
streets and shall remain in force. Staff recommends the following actions on the bonds:
Item: 10.G.
185
Honorable City Council
05/01/2024 Regular Meeting
Page 2
Surety Type Bond No. Original Bond
Amount
Prior
Authorized
Action
Authorized
Action,
05/01/2024
Surety Bond –
Storm Water
Corrective
Measures
PB00579800006 $75,000.00 Exonerated on
6/03/2015
Not Applicable
Surety Bond –
Site
Remediation
PB00579800007 $1,413,057.74 Exonerated on
6/03/2015
Not Applicable
Surety Bond –
Grading
81961930 $3,729,561.45 Exonerated on
9/21/2022
Not Applicable
Surety Bond -
Improvements
CMS0271453 $5,386,443.47 Reduced to
$2,693,221.74
(50%) on
6/3/2015
Reduce to
$2,030,788.80
Surety Bond –
Monumentation
PB00579800005 $87,816.25 None Exonerate
ENVIRONMENTAL DETERMINATION
This action is exempt from the California Environmental Quality Act (CEQA) as it does
not constitute a project, as defined by Section 15378 of the State CEQA Guidelines.
Therefore, no environmental review is required.
FISCAL IMPACT
None.
COUNCIL GOAL COMPLIANCE
This action does not support a current strategic directive.
STAFF RECOMMENDATION (ROLL CALL VOTE REQUIRED)
1.Adopt Resolution No. 2024-____, Reducing Surety Bond - Improvements (Bond
No. CMS0271453) and Exonerating Surety Bond – Monumentation (Bond No.
PB00579800005) for Toll XX, LP – Tract No. 5463 (Masters); and
2.Authorize the City Clerk to reduce and exonerate the bonds as shown in the
agenda report and draft resolution.
Attachment: Draft Resolution No. 2024-____
186
ATTACHMENT
RESOLUTION NO. 2024-___
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF MOORPARK, CALIFORNIA, REDUCING SURETY
BOND - IMPROVEMENTS (BOND NO. CMS0271453)
AND EXONERATING SURETY BOND –
MONUMENTATION (BOND NO. PB00579800005) FOR
TOLL XX, LP – TRACT NO. 5463 (MASTERS)
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; and
WHEREAS, the City Engineer/Public Works Director accepted the storm
drainage infrastructure improvements for Tract No. 5463 and, on April 11, 2024, deemed
those improvements to be complete; and
WHEREAS, City staff now recommends that the City Council reduce Surety
Bond – Improvements (Bond No. CMS0271453) for Tract 5463 to $2,030,788.80; and
WHEREAS, the City Engineer/Public Works Director inspected survey
monuments for Tract 5463 and, on September 9, 2023, deemed those monuments and
related documentation to be complete; and
WHEREAS, City staff now recommends that the City Council exonerate Surety
Bond – Monumentation (Bond No. PB00579800005) 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 reduces Bond
No. CMS0271453 to $2,030,788.80.
SECTION 2. The City Council of the City of Moorpark hereby exonerates Bond
No. PB00579800005.
SECTION 3. 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 1st day of May, 2024.
Chris R. Enegren, Mayor
ATTEST:
Ky Spangler, City Clerk 187