HomeMy WebLinkAboutAGENDA REPORT 1998 0218 CC REG ITEM 11J1 4 a.ql) '�Va
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CITY OF MOORPARK, CAI_,1FORNIA
AGENDA REPORT City Council Meen `
CITY OF MOORPARK
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TO: THE HONORABLE CITY COUNCIL
FROM: DIRK LOVETT, ASSISTANT CITY ENGINEER
BY• -? • l
David Grantham, Assistant Engineer
DATE: FEBRUARY 5, 1998 (CC MEETING OF FEBRUARY 18, 1998)
SUBJECT: REDUCTION OF BONDS - (TRACT 4986 - WEST AMERICA)
BACKGROUND
Tract 4986 is an industrial building development located adjacent to Poindexter Avenue between
Commerce Avenue and Tech Circle. Site development included grading, drainage and the
construction of a cul -de -sac (Endeavour Court.) A vicinity map is attached for your reference.
Bonds for street improvements, drainage improvements, grading and monumentation have been
submitted by the developer to the City. The developer has requested to reduce the street, grading
and drainage bonds.
DISCUSSION
Work is still in process at the site, however, the majority of street and drainage improvements have
been satisfactorily completed. Grading remains substantially incomplete however, all storm drains
and catch basins are installed. Street improvements have been completed with the exception of the
final asphalt cap. It is therefore appropriate to reduce the street and drainage improvement bonds
only, as outlined in the following table:
TABLE 1:
Grading and monumentation bonds are to remain at 100 %.
RECOMMENDATION:
Authorize the City Clerk to reduce the street and drainage bonds as set forth in Table 1 of
this report.
000174,
Current
Recommended
Reduced
Type
Bond #
Surety Co.
Status
Action
Amount
Street
Surety Co. of
(Performance)
M101927
the Pacific
$46,797
Reduce 50%
$23,399
Street
Surety Co. of
(Labor)
M101927
the Pacific
$46,797
Reduce 50%
$23,399
Drainage
Surety Co. of
(Performance)
M101929
the Pacific
$36,751
Reduce 50%
$18,376
Drainage
Surety Co. of
(Labor)
M101929
the Pacific
$36,751
Reduce 50%
$18,376
Grading and monumentation bonds are to remain at 100 %.
RECOMMENDATION:
Authorize the City Clerk to reduce the street and drainage bonds as set forth in Table 1 of
this report.
000174,
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