Camarillo City Council
AGENDA REPORT
Date: January 8, 2025
To: Honorable Mayor and City Councilmembers
From: Greg Ramirez, City Manager
Submitted by: Dave Klotzle, Public Works Director
Subject: CUP-330M(1), Aldersgate Investment, LLC (2024 Ventura Boulevard) – Adopt a Resolution Exonerating Warranty Security
BACKGROUND
CUP-330M(1) is a mixed-use development with 23 affordable apartments and 6,162 square feet of commercial space located on the south side of Ventura Boulevard between Oak Street and Cedar Drive in Old Town. On May 13, 2020, the City Council of the City of Camarillo accepted the public improvements and warranty security and exonerated performance securities. The project location is shown on the attached map (Attachment 1).
DISCUSSION
CUP-330M(1) has now been completed to the satisfaction of the City Engineer and the warranty security has been held for the required period. The following warranty security may be exonerated: American Contractors Indemnity Company Warranty Bond No. 1000969485 in the amount of $73,550 for installation and completion of certain designated public improvements.
FISCAL IMPACT
There is no budget impact as a result of this action.
RECOMMENDATION
Adopt a Resolution exonerating the warranty security for CUP-330M(1), Aldersgate Investment, LLC.
ATTACHMENTS
1. Location Map
2. Resolution
REFERENCE MATERIALS – AVAILABLE FOR REVIEW AT CITY HALL None