HomeMy WebLinkAboutAGENDA REPORT 2010 0120 CC REG ITEM 10JMOORPARK CITY COUNCIL
AGENDA REPORT
ITEM 10.J.
City Counell Meeting
ACTION:-
TO: Honorable City Council
FROM: Yugal K. Lail, City Engineer /Public Works Director
DATE: January 04, 2010 (CC Meeting of 01/20/10)
SUBJECT: Consider Surety Bond Reduction (No. 103883732 and 103883734) 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 the new Spring
Road between Walnut Canyon Road and Charles Street with 450 single - family
residential lots, 102 multi - family condominiums, one school lot, 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 reduction of the Grading and Erosion Control bonds
(Tract 5045 -6) for this development.
These surety bonds were used as a mechanism to guarantee the grading and
construction of the improvements for this site. All work covered under these surety
bonds has been completed and is acceptable to the City. Staff is now recommending
that the following two surety bonds be reduced to 10 %.
SAPublic Works \Everyone \Reports \Staff Reports\2010\January\Surety Bond Reduction TR 5045- 6_Agenda_012010.doc 88
Honorable City Council
January 20, 2010
Page 2
The following are the applicable bonds:
SURETY
BOND
ORIGINAL
PRIOR
AUTHORIZED
TYPE
NUMBER
BOND AMT.
AUTHORIZED
ACTION OF
ACTION
01/2012010
Grading
103883732
$96,598.15
None
Reduction to
Performance
10%
Bond
$9,659.82
Erosion
103883734
$138,312.74
None
Reduction to
Control Bond
10%
$13,831.27
STAFF RECOMMENDATIONS
1. Authorize the City Clerk to reduce the Surety Bond Nos. 103883732 and 103883734
to 10% for Pardee Homes, Moorpark Highlands, Tract 5045 -6.
2. Authorize the City Clerk to fully exonerate these Bonds one year after this reduction
approval and upon written confirmation form the City Engineer that no warranty work
is required.
ATTACHMENT
1 —Vicinity Map
S: \Public Works \Everyone \Reports \Staff Reports\2010\January\Surety Bond Reduction TR 5045- 6_Agenda_012010.doc 89
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