HomeMy WebLinkAboutAGENDA REPORT 2006 0920 CC REG ITEM 10ITO:
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MOORPARK CITY COUNCIL
AGENDA REPORT
Honorable City Council
Yugal K. Lail, City Engineer /Public Works Directo
Prepared by: Adam Burks, Assistant Engineer
September 13, 2006 (CC Meeting of 09- 20 -06)
SUBJECT: Consider Bond Reduction for Pardee Homes, Moorpark Highlands,
Tract 5045, Mass Grading Bond
BACKGROUND
Pardee Homes, Moorpark Highlands, Tract 5045, is a 445 -acre subdivision housing
development that is located northeasterly of the extension of the new Spring Road
between Walnut Canyon Road and Charles Street with 450 single family residential lots,
102 multi - family condominiums, one school lot, and one lot dedicated for a park. Open
space, common areas and private streets are also included as part of this subdivision.
(Attachment 1)
DISCUSSION
Pardee Homes has requested the reduction of their mass grading bond, #81933515, on
file with the City for the Moorpark Highlands, Tract 5045. This surety bond, #81933515,
was used as a mechanism to guarantee the mass grading for Moorpark Highlands,
Tract 5045.
All portions covered under this mass grading bond have been completed. Staff
recommends that the Pardee Homes mass grading bond, #81933515, for Moorpark
Highlands, Tract 5045, on file with the City be reduced to 10 %.
0003,83
Honorable City Council
September 20, 2006
Page 2
The following is the applicable bond:
BOND NO.
TYPE
BOND AMT.
81933515
Surety Bond — Grading Performance
$12,835,625.00
STAFF RECOMMENDATIONS
1. Authorize the City Clerk to reduce the above referenced Surety Bond to 10% for
Pardee Homes, Moorpark Highlands, Tract 5045.
2. Authorize the City Clerk to fully exonerate the above referenced surety bond for
Pardee Homes, Moorpark Highlands, Tract 5045, one year after the approval of the
reduction of the surety bond and upon written confirmation from the City Engineer
that no warranty work is required.
ATTACHMENT
Attachment 1 - Vicinity Map
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A TTACHMENT 1
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TR.5045 WINITY MAP
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