HomeMy WebLinkAboutAGENDA REPORT 2007 1003 CC REG ITEM 10FrrEm I °. �:-
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MOORPARK CITY COUNCIL a yy?-
AGENDA REPORT
TO: Honorable City Council
FROM: Dave Klotzle, Assistant City Engineer
Prepared by Adam Burks, Assistant Engineer
DATE: September 20, 2007 (CC Meeting of 10- 03 -07)
SUBJECT: Consider Surety Bond Reduction 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 a reduction of the surety bonds for this
development.
These surety bonds were used as a mechanism to guarantee the placement of the
monuments for this development. The improvements have been completed and
accepted by the City, and staff recommends that the bonds be reduced to 10 %.
The following are the applicable bonds:
City sharetpublic works/everyone /staff reports/2007 /October /bond reductionrrR_4928 01 0 0 1 i 9
Bond No.
Type
Bond Amt.
Surety Bond — Monuments (4928 -1) on Walnut
1
929213834
Canyon Drive, Grimes Canyon Road,
$42,300.00
Championship Drive, Haynie Court & Tract
Boundary
Surety Bond — Monuments (4928 -2) on Lopez
2
929213835
Court, Rawls Road, Watson Drive, Hogan
$40,700.00
Street, Vare Court, Mann Court, Trevino Drive,
& Jacobson Place
City sharetpublic works/everyone /staff reports/2007 /October /bond reductionrrR_4928 01 0 0 1 i 9
Honorable City Council
October 3, 2007
Page 2
STAFF RECOMMENDATIONS
Authorize the City Clerk to reduce the referenced surety bonds to 10% for Toll CA
L.P., Moorpark Country Club Estates — Tract 4928.
2. Authorize the City Clerk to fully exonerate the referenced sureties for Toll CA L.P.,
Moorpark Country Club Estates — Tract 4928, one year after this approval of the
reduction of the surety bonds and upon written confirmation from the City Engineer
that no warranty work is required.
ATTACHMENT
1 - Vicinity Map
City share /public works/everyone/staff reports /2007 /October /bond reductionrrR_4928 ( ) 0 () 1 G
ATTACHMENT 1
BROWWAY
SITE
loll
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MOORPARK
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Q HIGH ST
P
IX
LOS ANGELES AVENUE
4 _
8L) LOS '
(SWE HWY 118)
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w
VICINITY
MAP
NO SCALE
Tract 4928