HomeMy WebLinkAboutAGENDA REPORT 2011 1005 CC REG ITEM 10I ITEM 10.1.
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City Council Meeting
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AGENDA REPORT
TO: Honorable City Council
FROM: Dave Klotzle, City Engineer/Public Works Director
DATE: September 23, 2011 (CC Meeting of 10-05-11)
SUBJECT: Consider Surety Bond Exoneration (Bond No. 103883735) for Pardee
Homes, Moorpark Highlands, Tract 5045-6
BACKGROUND
Pardee Homes, Moorpark Highlands, Tract 5045-6, is part of a 445-acre subdivision
housing development that is located northeasterly of the extension of Spring Road
between Walnut Canyon Road and Charles Street with 450 single family residential lots,
102 multi-family condominiums and one lot dedicated for a park. Open space, common
areas and private streets parcels are also included as part of this subdivision,
(Attachment 1).
DISCUSSION
Pardee Homes has requested the exoneration of the improvement bond for Tract 5045-
6. This surety bond was used as a mechanism to guarantee the construction of the
improvements for this development. All items of work covered under this surety bond
have been completed and no warranty work has been required for over two years since
the work has been completed. Staff is now recommending that the surety bond
described below be fully exonerated.
S URETY BOND ORIGINAL PRIOR AUTHORIZED
TYPE NUMBER BOND AMT. AUTHORIZED ACTION OF
ACTION 10/05/2011
Improvements 103883735 $907,454.77 None Exoneration
Performance
and Payment
S:\Public Works\Everyone\Reports\Staff Reports\2011\October\10-05-11 (Surety Bond Exoneration TR 5045-6).docx 1 9 5
Honorable City Council
October 5, 2011
Page 2
FISCAL IMPACT
None
STAFF RECOMMENDATION
Authorize the City Clerk to fully exonerate the Surety Bond No. 103883735 for Pardee
Homes, Moorpark Highlands, Tract 5045-6.
ATTACHMENT
1 — Vicinity Map
196
ATTACHMENT 1
PROJECT SITE
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23 1R 5045-8
1R 5045-7
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AVENUE
CHARLES STREET
HIGH STREET
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TR.5045 VICINITY MAP
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