HomeMy WebLinkAboutAGENDA REPORT 2006 0802 CC REG ITEM 10D„Y Council - Meeting
MOORPARK CITY COUNCIL
AGENDA REPORT
TO: Honorable City Council
FROM: Yugal K. Lail, City Engineer /Public Works Director
Prepared by Adam Burks, Assistant Engineer
DATE: July 25, 2006 (CC Meeting 08- 02 -06)
SUBJECT: Consider Bond Exoneration for Pardee Homes, Moorpark Highlands,
Tract 5045, Phase 8, Planning Areas 8 & 9
BACKGROUND
Moorpark Highlands, Tract 5045, Phase 8, Planning Areas 8 & 9, is a 132 home
subdivision housing development located east of Spring Road on the north side of
Ridgecrest Drive. (Attachment 1)
DISCUSSION
Pardee Homes has requested the exoneration of the performance and payment bond,
#023009671, on file with the City for the Moorpark Highlands, Tract 5045, Phase 8,
Planning Areas 8 & 9.
This performance and payment bond, #023009671, was used as a mechanism to
guarantee the construction of the on -site improvements specifically for Tract 5045,
Phase 8, Planning Areas 8 & 9.
KB HOME Greater Los Angeles Inc. has purchased Tract 5045, Phase 8, Planning
Areas 8 & 9, from Pardee Homes and has provided a replacement performance and
payment bond, #8204- 48 -82, for the same amount to guarantee the construction of the
grading and on -site improvements.
Staff recommends that the Pardee Homes performance and payment bond,
#023009671, for Moorpark Highlands, Tract 5045, Phase 8, Planning Areas 8 & 9, on
file with the City of Moorpark be exonerated.
c:city share /public works /everyone /agenda reports/2006 /Aug /PH 8
000284
Honorable City Council
August 2, 2006
Page 2
The following is the applicable bond:
BOND NO.
TYPE
BOND AMT.
023009671
Surety Bond - Improvements
Performance and Payment
$3,947,129.92
STAFF RECOMMENDATION
Authorize the City Clerk to fully exonerate the above referenced Surety Bond -
Improvements, Performance and Payment, for Pardee Homes, Moorpark Highlands,
Tract 5045, Phase 8, Planning Areas 8 and 9.
ATTACHMENT
Attachment 1 - Vicinity Map
c:city share /public works /everyone /agenda reports/2006 /Aug /PH 8
000285
ATTACHMENT
PROJECT SITE
VICINITY MAP
NTS
()00286