OAK PARK : County Says Project Is Up to Bond Firm

In an attempt to get an Oak Park housing development finished, Ventura County officials plan to turn responsibility for it over to a bonding company, a Ventura County public works department official said Wednesday.

S.B.A. of Los Angeles, the developer of the Hillcrest subdivision in Oak Park, went bankrupt about 1 1/2 years ago, Public Works Agency spokesman Al Echarren said.

A new builder has bought half of the subdivision. But the other half is in limbo, with nobody taking responsibility for finishing the roads and landscaping, Echarren said. That half has about 80 houses, which are complete and largely occupied.

A resident, who has lived there about two years, spoke before the Oak Park Municipal Advisory Council last week.

“Our streets have not been finished,” Carlyle Hume said. Grading and landscaping on slopes and in common areas are still not completed, Hume and Echarren said. The resident said he is afraid that the development is getting a bad reputation among potential buyers.

The bonding company, Developers Insurance Co. of Anaheim, has $222,983 worth of bonds backing S.B.A., Echarren said. The bonds are insurance that if the developer does not complete the project, the bonding company will hire another contractor.

The county notified Developers Insurance 45 days ago that it would not renew the bonds when they expire on Aug. 2, Echarren said.

“What it means is the bonding company has to take over the responsibility of the developer,” Echarren said.

However, the bonding company has not responded. If Developers Insurance does not take steps to complete the development, the Public Works Agency eventually will turn the matter over to county counsel, he said.

A spokeswoman at Developers Insurance refused to comment on Thursday.