HomeMy WebLinkAboutAGENDA REPORT 2010 0721 CC REG ITEM 10I ITEM 10.1.
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City Council Meeting
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ACTION
MOORPARK CITY COUNCIL -
AGENDA REPORT
TO: Honorable City Council
FROM: Yugal K. Lail, City Engineer/Public Works Director
Prepared By: Dave Klotzle, Assistant City Engineer
DATE: June 10, 2010 (CC Meeting of 07/21/10)
SUBJECT: Consider Exoneration of Monument Bond #023009672 for Pardee
Homes (Tract 5045-8)
BACKGROUND
Moorpark Highlands, Tract 5045-8, is a 132-home subdivision housing development
located east of Spring Road on the north side of Ridgecrest Drive as shown on
Attachment 1.
DISCUSSION
Pardee Homes has requested exoneration of the subject Monument Bond as Toll
Brothers has provided a replacement Monument Bond in the same amount to the City.
Moorpark Highlands, Tract 5045-8 originally owned by Pardee Homes was sold to KB
Homes. Toll Brothers has now acquired Tract 5045-8 from KB Homes. Pardee Homes
posted the subject Monument Bond to ensure the survey monuments will be placed per
the recorded Tract Map. The installation of monuments is now guaranteed by the Toll
Brothers replacement bond. Staff recommends exoneration of the following applicable
bond:
SURETY BOND ORIGINAL PRIOR AUTHORIZED
TYPE NUMBER BOND AMT. AUTHORIZED ACTION OF
ACTION 07/21/2010
5045-8 023009672 $178,147.20 None Full
Monuments Exoneration
S\Public Works\Everyone\Reports\StaH Repor1ls12010Uuly\07 21-10_TR5045-8_Bond Exoneration doc
96
Honorable City Council
July 21, 2010
Page 2
FISCAL IMPACT
None.
STAFF RECOMMENDATION
Authorize the City Clerk to exonerate the Monument Bond #023009672 for Pardee
Homes (Tract 5045-8).
ATTACHMENT
1 —Vicinity Map
S\Public WorkslEveryone\Reports\.Staff Reports\2010 Uuly\07-21-10_TR5045-5_Bond Exoneration doc 97
A T TA CHMENT 1
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98