HomeMy WebLinkAboutAGENDA REPORT 2017 0517 CCSA REG ITEM 10H ITEM 10.H.
CITY'OF MOORPARK,CALIFORWE
City Council Meeting
AC` 1ON:42142
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MOORPARK CITY COUNCIL
AGENDA REPORT
TO: Honorable City Council
FROM: Sean Corrigan, City Engineer/Public Works Director //
DATE: May 10, 2017 (CC Meeting of 05/17/17)
SUBJECT: Consider Surety Bond Exoneration (Bond Nos. 104324727,
K08742832, K08850902 and SU1100424) for Shea Homes LP, Tract
5133 and Tract 5425
BACKGROUND
The dwelling units in Tract 5133 and Tract 5425 south of Los Angeles Avenue have
been constructed by Shea Homes LP. Drainage improvements at the Arroyo Simi and
final capping of streets remain outstanding. Shea Homes LP has requested that the
City exonerate grading bonds for both tracts.
DISCUSSION
All rough and fine grading has been completed and housing constructed. Staff
recommends that the Shea Homes LP grading surety bonds described below be fully
exonerated.
SURETY BOND NUMBER ORIGINAL PRIOR AUTHORIZED
TYPE BOND AMT. AUTHORIZED ACTION OF
REDUCTION 5/17/2017
Tract 5133 Grading & 104324727 $764,667.79 Reduce to Exoneration
Improvements 25%
Tract 5425 Grading & K08742832 $1,411,741.53 None Exoneration
Improvements
Tract 5425 Grading K08850902 $30,965.00 None Exoneration
Tract 5425 Grading & SU1100424 $608,104.71 None Exoneration
Improvements
206
Honorable City Council
May 17, 2017
Page 2
FISCAL IMPACT
None.
STAFF RECOMMENDATION
Authorize the City Clerk to fully exonerate Surety Bonds Nos. 104324727, K08742832,
K08850902 and SU1100424 for Tract 5133 and Tract 5425.
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S`\Public Works\Everyone\Reports\Staff Reports\2017\05_May\05-17-2017(TR 5133 and 5425 Bond Exonerationydocx