Camarillo City Council
AGENDA REPORT
Date: August 26, 2026
To: Honorable Mayor and City Councilmembers
From: Greg Ramirez, City Manager
Submitted by: Dave Klotzle, Public Works Director
Subject: CPD-6M(23) Sphear Investments, LLC (700-940 Arneill Road) – Resolution Accepting Public Improvement, Exonerating
Performance Securities and Accepting Warranty Security
BACKGROUND
CPD-6M(23) is the modification of Central Plaza shopping center located at 700-940 Arneill Road. The project consisted of the construction of a new supermarket, convenience store and gas station, retail building, and facade remodel of the existing buildings.
On July 26, 2023, the Camarillo City Council approved improvement plans, accepted securities and other necessary documents, and issued a water will-serve letter.
DISCUSSION
The City Engineer has reviewed the final as-built plans and public improvements have now been completed to the satisfaction of the City Engineer and Bank of America Irrevocable Letter of Credit No. 68185556 in the amount of $1,284,828 can be released.
Bank of America Irrevocable Letter of Credit No. 68209746 in the amount of $321,207 for the project has been submitted and will remain in place for the required maintenance period.
FISCAL IMPACT
There is no budget impact as a result of this action.
CPD-6M(23) Sphear Investments LLC
August 26, 2026
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RECOMMENDATION
Adopt a Resolution accepting public improvements, releasing Performance Securities and accepting Warranty Security for CPD-6M(23).
ATTACHMENTS
1. Location Map
2. Resolution
REFERENCE MATERIALS – AVAILABLE FOR REVIEW AT CITY HALL None.