HomeMy WebLinkAboutAGENDA REPORT 2015 0218 CCSA REG ITEM 10E ITEM 10.E.
CITY OF MOORPARK,CALIFORNIA
City Council Meeting
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MOORPARK CITY COUNCIL/ /Lid�//�" ° " d'a
AGENDA REPORT BY: 911 • � ---
TO: Honorable City Council 190FROM: Dave Klotzle, City Engineer/Public Works Director DATE: February 6, 2015 (CC Meeting of 02/18/15)
SUBJECT: Consider Release of Cash Deposit (Check No. 72539940) and Surety
Bond Exonerations (Bond No. K08742601 and K08742649) for Shea
Homes L.P., Tract 5425
BACKGROUND
Tract 5425 is a 15 acre, 99 unit residential development project located south of Los
Angeles Avenue and east of Fremont Street, as shown on Attachment 1.
DISCUSSION
The developer, Shea Homes L.P., has requested release of the subject cash deposit
and exoneration of the subject surety bonds for this development. The cash deposit was
used as a mechanism to guarantee the construction of interim street knuckle
improvements required for access to the recreation center located within the
development. The interim street improvements were constructed and subsequently
replaced with the final street improvements for the development. The subject surety
bonds were used as a mechanism to guarantee the implementation of site remediation
and stormwater runoff corrective measures as required by the early grading agreement
for the development. All items of work covered under the subject cash deposit and
surety bonds have been completed and no warranty work is required. Staff is now
recommending that the cash deposit and surety bonds described below released and
be fully exonerated.
145
Honorable City Council
February 6, 2015
Page 2
SURETY CHECK ORIGINAL PRIOR AUTHORIZED
TYPE NUMBER BOND AMT. AUTHORIZED ACTION OF
ACTION 2/18/2015
Interim 72539940 $104,355.37 None Release
Knuckle
Cash Bond
SURETY BOND ORIGINAL PRIOR AUTHORIZED
TYPE NUMBER BOND AMT. AUTHORIZED ACTION OF
ACTION 2/18/2015
Site K08742601 $223,710.65 None Exoneration
Remediation
Stormwater K08742649 $75,000.00 None Exoneration
Runoff
Corrective
Measures
FISCAL IMPACT
None
STAFF RECOMMENDATION
Authorize the City Clerk to release the Interim Knuckle Cash Bond Check No. 72539940
and fully exonerate the Site Remediation Bond No. K08742601 and Stormwater Runoff
Corrective Measures Bond No. K08742649 for Shea Homes L.P., Tract 5425.
Attachment:
Location Map
146
S'.\Public Works\Everyone\Reports\Staff Reports\2015\February\2-18-15(Surety Bond Exoneration TR 5425).doc
Attachment 1
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LOCATION MAP
147