HomeMy WebLinkAboutAGENDA REPORT 1998 0617 CC REG ITEM 11DAGENDA REPORT
CITY OF MOORPARK
TO: The Honorable City Council
FROM: Dirk Lovett, Assistant City Engineer
Prepared by Jim Colton, Associate Civil Engineer
DATE: June 5, 1998 (City Council Meeting of June 17, 1998)
a , 41 (a
ITEM
CITY OF MOORPAW CALIFORNIA
City Council Meeting
of Co ' 11.99
_
ACTION:
fie r o ved
r
SUBJECT: Consider request for the Exoneration of Bonds for improvements in the following
Tracts in Mountain Meadows (PC -3): 4340 -3, 4637, 4637 -1, 4637 -2
(UWC- Moorpark Investors, LTD)
BACKGROUND
The Mountain Meadow Tracts are located west of Tierra Rejada Road and south of the Arroyo
Simi Channel. A vicinity map has been attached for your reference.
Bonds described below are for grading, storm drains, installation of monuments and the
construction of public improvements associated with the Tracts noted. The City Council has
previously reduced five of the bonds to fifty percent, for Tract 4637 improvements.
DISCUSSION
The City is in receipt of letters from UWC- Moorpark Investors, LTD requesting the exoneration
or reduction of a number of bonds for improvements for Tracts within PC -3. City Engineering
has reviewed the request, and based on the status of the improvements guaranteed by those
bonds, recommends that certain improvements be accepted as complete and the respective bonds
be exonerated or that certain bonds be accepted as complete, subject to a one year maintenance
period and final City Engineering inspection.
Provided below is a chart describing the past actions along with the recommended actions.
TRACT
BOND NO.
TYPE
BOND AMT.
PREVIOUS
RECOMMENDED
&
SURETY
REMAINING
COUNCIL
ACTION
COUNCIL
ACTION
1
4340 -3
41286739
P &P
$121,000
None
Reduce to 10%
2
4637
185055S
Grading
$186,764.05
Reduced to
50%
Exonerate
RECOMMENDATION
1) Accept the subject improvements as complete.
2) Authorize the City Clerk to reduce or exonerate the bonds as set forth in the above table of this
report.
3) Authorize the City Clerk to release the reduced bonds after a one year maintenance period,
subject to a final inspection by City Engineering.
cc: Steve Kueny
Ken Gilbert
Chron
File
[BOND_EX7. WPD]
®®c 1c, 5
TRACT
BOND NO.
TYPE
BOND AMT.
REMAINING
PREVIOUS
COUNCIL
ACTION
RECOMMENDED
&
SURETY
COUNCIL
ACTION
3
4637 -1
185056S
Street Imp.
$125,188.25
Reduced to
50%
Reduce to 10%
4
4637 -1
185057S
Storm
Drain
$33,880.82
Reduced to
50%
Reduce to 10%
5
4637 -1
185058S
Monument
$4,841.87
None
Exonerate
6
4637 -2
185059S
Street
$175,505.79
Reduced to
50%
Reduce to 10%
7
4637 -2
185060S
Storm
Drain
$82,718.13
Reduced to
50%
Reduce to 10%
8
4637 -2
185061S
Monument
$8,750.00
None
Exonerate
RECOMMENDATION
1) Accept the subject improvements as complete.
2) Authorize the City Clerk to reduce or exonerate the bonds as set forth in the above table of this
report.
3) Authorize the City Clerk to release the reduced bonds after a one year maintenance period,
subject to a final inspection by City Engineering.
cc: Steve Kueny
Ken Gilbert
Chron
File
[BOND_EX7. WPD]
®®c 1c, 5
r l