HomeMy WebLinkAboutAGENDA REPORT 2017 0719 CCSA REG ITEM 10F ITEM 10.F.
CITY OF MOORPARK,CALIFORNIA
City Council Meeting
of 7-/9-420/1
MOORPARK CITY COUNCILAcTiolt._g
AGENDA REPORT
TO: Honorable City Council
FROM: Sean Corrigan, City Engineer/Public Works Director AI/ 1V..
DATE: July 11, 2017 (CC Meeting of 07/19/17)
SUBJECT: Consider Surety Bond Exoneration for Pardee Homes' work within
the Boundaries of Tract 5045
BACKGROUND
All of the dwelling units within the boundaries of Tract 5045 to be constructed by Pardee
Homes have been completed. Some homes are still under construction by Toll Brothers
within Tract 5045-8. Several issues remain outstanding including: the Route 118 and 23
Bypass work; access at La Perch ranch; a mitigation area at the southern edge of the
development; and verification of final survey monument installation. Pardee Homes has
requested that the City exonerate surety bonds for work within the boundaries of Tract
5045 that has been completed and accepted.
DISCUSSION
Staff recommends that the Pardee Homes surety bonds described on Attachment 1 be
fully exonerated. Survey monument bonds, a $250,000 cash deposit and a $4,833,016
Performance Bond for grading for the Route 118 and 23 Bypass roads remain in place.
FISCAL IMPACT
None.
STAFF RECOMMENDATION
Authorize the City Clerk to fully exonerate nine Pardee Homes Surety Bonds for work
within the boundaries of Tract 5045 detailed on Attachment 1.
Attachment
1 Surety Bonds to be exonerated
81
Attachment 1
Pardee Homes' Surety Bonds within the boundaries of Tract 5045
to be Exonerated
SURETY BOND NUMBER ORIGINAL PRIOR AUTHORIZED
TYPE BOND AMT. AUTHORIZED ACTION OF
REDUCTION 7/19/2017
Tract 5045-3 Performance 52BSBDH1127 $881,482.49 None Exoneration
& Payment for
Improvements
Tract 5045-4 Faithful 81969776 $1,421,628.26 None Exoneration
Performance/Labor and
Materials for Improvements
Tract 5045-1 Performance 6420194 $836,131.47 None Exoneration
& Payment for Elk Run &
Ridgecrest Improvements
Tract 5045-1 Traffic Signal 23012698 $250,000.00 None Exoneration
Replacement bond for Elk
Run & Ridgecrest
Tract 5045-8 Grading & 23012699 $179,098.83 None Exoneration
Improvements for Horse
Trail
Tract 5860 (former 5045-7) 8887128 $250,317.45 None Exoneration
Grading
Tract 5860 (former 5045-7) 8887130 $776,229.45 None Exoneration
Site Remediation
Tract 5860 (former 5045-7) 8887129 $82,500.00 None Exoneration
Storm Water Runoff
Corrective Measures
Tract 5860 (former 5045-7) 887132 $2,094,665.37 None Exoneration
Street & Storm Drain
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