HomeMy WebLinkAboutAGENDA REPORT 2006 1101 CC REG ITEM 10FMOORPARK CITY COUNCIL
AGENDA REPORT
TO: Honorable City Council
FROM: Yugal K. Lall, City Engineer /Public Works Director
Prepared by Earl Schwartz, Assistant City Enginee
DATE: October 16, 2006 (CC Meeting November 1, 2006)
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SUBJECT: Consider Bond Exoneration for Moorpark Homes, LLC and MP Group
LLC, (Tract 5053, Pacific Arroyo Project)
BACKGROUND
This was a residential planned development (RPD) Permit No. 96 -01 and Tentative
Tract Map 5053, for 247 residential units on 35.23 gross acres of land located on the
south side of Los Angeles Avenue between Maureen Lane and Leta Yancy Road,
(Attachment 1), on the application of Pacific Communities.
DISCUSSION
Moorpark Homes, LLC and MP Group LLC, has requested the exoneration of their
surety bond on file with the City for the Pacific Arroyo, Tract 5053 project. This surety
bond was held as a mechanism to guarantee the construction of the proposed
improvements. The project has been put on hold by the applicant due to flood impacts
as identified on the recently published preliminary flood insurance rate map (DFIRM).
The City has on file and will retain the grading bond for this project in the amount of
$549,510.00. This bond will be held as a mechanism for the stockpile /uncompacted fill
that has been placed on the site.
The following is the applicable bond:
BOND NO.
TYPE
BOND AMT.
BE2616317
Surety Bond — Performance &
Payment
$945,610.00
"0001G3
Honorable City Council
November 1, 2006
Page 2
STAFF RECOMMENDATION
Authorize the City Clerk to exonerate the above referenced surety bond for Moorpark
Homes, LLC and MP Group LLC, Tract 5053.
ATTACHMENT
1 - Vicinity Map
ATTACHMENT 1
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TRACT 5053
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