HomeMy WebLinkAboutAGENDA REPORT 2011 1019 CC REG ITEM 10L ITEM 10.L.
CITY OF MOORPARK,CALIFORNIA
City Council Meeting
0/l
MOORPARK CITY COUNCIL ACTION:
AGENDA REPORT
6Y °
TO: Honorable City Council
FROM: Dave Klotzle, City Engineer/Public Works Director
DATE: October 7, 2011 (CC Meeting of 10-19-11)
SUBJECT: Consider Surety Bond Exoneration (Bond Nos. 104058248 and
104058249) for Toll CA L.P., Moorpark Country Club Estates
Tract 4928-3
BACKGROUND
Tract 4928-3 is a 121-home subdivision housing development located on Championship
Drive between Walnut Canyon Road and Grimes Canyon Road as shown on
Attachment 1.
DISCUSSION
These surety bonds were used as a mechanism to guarantee the construction of the
improvements for this development. All items of work covered under these surety
bonds 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 bonds
described below be fully exonerated.
SURETY BOND ORIGINAL PRIOR AUTHORIZED
TYPE NUMBER BOND AMT. AUTHORIZED ACTION OF
ACTION 10/19/2011
Monuments 104058248 $137,942.46 None Exoneration
Grading 104058249 $5,013,272.92 Reduced to 50% Exoneration
$2,506,636.46
on 5/16/07
S\Public Works\Everyone\Reports\Staff Reports\2011\October\10-19-11 (Surety Bond Exoneration T 4928-3).docx 249
Honorable City Council
October 19, 2011
Page 2
FISCAL IMPACT
None
STAFF RECOMMENDATION
Authorize the City Clerk to fully exonerate the Surety Bond Nos. 104058248 and
104058249 for Toll CA L.P., Moorpark Country Club Estates, Tract 4928-3.
ATTACHMENT
1 — Vicinity Map
250
ATTACHMENT 1
MOSECT SITE
BROADWA
�O
C P, s
J�
MOORPARK
�o
Q HIGH ST
W A >�
IX
LOS ANGELES AVENUE �G
_
g vai LOS N ELL_
{STATE HWY 118)
VICINITY MAP
NO SCALE
Tract 4928-3
251