HomeMy WebLinkAboutAGENDA REPORT 1999 0120 CC REG ITEM 11FCITY OF MOORPARK
AGENDA REPORT
ITEM It. E
CITY OF MOORPARK, CALIFORNIA
City Council Meeting
of
ACTION:
BY:
TO: The Honorable City Council
FROM: Dirk Lovett, Assistant City Engineer
(Prepared by Matt Gaspar, Engineering Department)
DATE: January 8, 1999 (City Council meeting of January 20,
1999)
SUBJECT: Consider the Acceptance of Improvements and Bond
Reduction for IPD 96 -3 West America Construction
Corporation
BACKGROUND
IPD 96 -3 is an industrial development located at 5350 Gabbert
Road. A vicinity map is attached for your reference (see Exhibit
A). Site development included grading, storm drainage devices,
and street improvements.
Construction and installation of all grading, drainage devices,
and street improvements have been completed in accordance with the
approved plans and conditions of development. Bonds for grading
and street improvements are currently being held by the City and
the developer is requesting the release of these bonds at this
time. All conditions for the reduction of the security have been
completed. It is therefore appropriate to exonerate the security
as outlined in the following table:
000248
HONORABLE CITY COUNCIL
IPD 96 -3
JANUARY 20, 1999
PAGE 2
Type
Bond #
Surety Co.
Current
Status
Recommended
Action
Surety
Grading
M102256
Company of
$13,213.40
Exonerate
/Drainage
the
(Performance)
Pacific
Street
Surety
Improvements
M1012257
Company of
$9,280.70
Reduce to
(Performance
the
$928.00
and Payment)
Pacific
It is the City's policy to reduce street (public) improvement
bonds to 10% for a one year maintenance period and then exonerate
pending satisfactory condition of the improvements.
STAFF RECOMMENDATION:
1. Accept the improvements as complete.
2. Authorize the City Clerk to exonerate the Grading bond.
3. Authorize the City Clerk to reduce the street improvement
bond to 10% for a one year maintenance period and then
exonerate the bond, subject to the Engineering Department's
final approval at that time.
4. Authorize staff to record a "Release of Agreement" if
requested by the Developer.
00024,9
EXHIBIT A
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