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MOORPARK CITY COUNCIL _ y�
AGENDA REPORT
TO: Honorable City Council
FROM: Dave Klotzle, Assistant City Engineer P41
Prepared by Adam Burks, Assistant Engineer
DATE: April 6, 2007 (CC Meeting of 04- 18 -07)
SUBJECT: Consider Letters of Credit Release for Toll CA L.P., Moorpark
Country Club Estates (Tract 4928)
BACKGROUND
This project is a 216 - home subdivision housing development located on Championship
Drive between Walnut Canyon Road and Grimes Canyon Road, (Attachment 1).
DISCUSSION
The developer, Toll CA L.P., has requested the release of the letters of credit for this
development.
These letters of credit were used as a mechanism to guarantee the construction of the
improvements for this development. The improvements have been completed and
accepted by the City, and staff recommends that the letters of credit be released.
The following are the applicable Letters of Credit:
city share /public works/everyone /staff reports/2007 /April /letter of credit releases TR 4928 000113
No.
Type
Amount
1
7405560
Letter of Credit (Improvements to the Intersection
$417,863.00
of Walnut Canyon Road & "C" Street)
2
7405561
Letter of Credit (Improvements to the Intersection
$174,527.00
of Grimes Canyon Road & Highway 118)
city share /public works/everyone /staff reports/2007 /April /letter of credit releases TR 4928 000113
Honorable City Council
April 18, 2007
Page 2
STAFF RECOMMENDATION
Authorize the City Clerk to release the above referenced letters of credit for Toll CA
L.P., Moorpark Country Club Estates — Tract 4928.
ATTACHMENT
1 - Vicinity Map
city share /public worksleveryone /staff reports/2007 /ApnlAetter of credit releases TR 4928 000114 O0114
No.
Type
Amount
3
7405562
Letter of Credit (Improvements to the Intersection
"C"
$154,378.00
of Grimes Canyon Road & Street)
STAFF RECOMMENDATION
Authorize the City Clerk to release the above referenced letters of credit for Toll CA
L.P., Moorpark Country Club Estates — Tract 4928.
ATTACHMENT
1 - Vicinity Map
city share /public worksleveryone /staff reports/2007 /ApnlAetter of credit releases TR 4928 000114 O0114
ATTACHMENT 1
SITE
J
MOORPARK
Q HIGH ST
LOS ANGELES AVENUE
G
va
i LOS MS
(STATE HWY 118)
VICINITY MAP
NO SCALE
Tract 4928
00011 -5