HomeMy WebLinkAboutAGENDA REPORT 2015 0603 CCSA REG ITEM 10M ITEM 10.M.
CITY OF MOORPARK,CALIFORNIA
MOORPARK CITY COUNCIL City Council Meeting
AGENDA REPORT of 4-3-Aa/5
ACTION: /J ft tw,( 440
BY: '7)., .
TO: Honorable City Council
FROM: Dave Klotzle, City Engineer/Public Works Director
DATE: May 26, 2015 (CC Meeting of 06/03/15) e/
SUBJECT: Consider Surety Bond Reductions (Bond No. 81961930 and
CMS0271453) and Surety Bond Exonerations (Bond No.
PB00579800006 and PB00579800007) for Toll Land XX Limited
Partnership, Tract 5463
DISCUSSION
Toll Land XX Limited Partnership (Toll) is the developer of Tract 5463, a 50-lot residential
subdivision located at the northeast corner of Championship Drive and Grimes Canyon
Road (Attachment 1).
Toll has requested reduction and exoneration of the subject surety bonds for this
development. The subject surety bonds were used as a mechanism to guarantee the
construction of grading, street, drainage and erosion control improvements, as well as
implementation of site remediation and stormwater runoff corrective measures as
required by the early grading agreement for the development. The majority of grading,
street, drainage and erosion control improvements have been completed and staff
recommends a fifty percent reduction in the amount of the surety bonds for these
improvements as shown in the following table. All items of work covered by the surety
bonds for site remediation and stormwater runoff corrective measures have been
completed and no warranty work for these items is required. Staff recommends full
exoneration of the surety bonds for site remediation and stormwater runoff corrective
measures as shown in the following table.
527
Honorable City Council
June 3, 2015
Page 2
SURETY BOND ORIGINAL PRIOR AUTHORIZED
TYPE NUMBER BOND AMT. AUTHORIZED ACTION OF
ACTION 6/3/2015
Grading 81961930 $3,729,561.45 None 50% Reduction
Improvements CMS0271453 $5,386,443.47 None 50% Reduction
Performance
& Payment
Stormwater PB00579800006 $75,000.00 None Exoneration
Runoff
Corrective
Measures
Site PB00579800007 $1,413,057.74 None Exoneration
Remediation
FISCAL IMPACT
None
STAFF RECOMMENDATION
Authorize the City Clerk to reduce the Grading Bond No. 81961930 and Improvements
Performance and Payment Bond No. CMS0271453 by fifty percent, and fully exonerate
the Stormwater Runoff Corrective Measures Bond No. PB00579800006 and Site
Remediation Bond No. PB00579800007 for Toll Land XX Limited Partnership, Tract 5463.
Attachment:
Location Map
528
S:\Public Works\Everyone\Reports\Staff Reports\2015Uune\6-03-2015(Tract 5463 Surety Reduction Si Exoneration).doc
Location Map
NTS 7- Tract 5463
di
_A
- -- - -- - _ 1
m/ 1\ acop-i - h�P trove
--
�o ' ,- , .. ..,
Ch
- , (4. Mmb pek
`0Lei3"CY tait n
N 1141:,7Sell �
FJ
s ‘fili pt
y l
529