HomeMy WebLinkAboutAGENDA REPORT 1999 0120 CC REG ITEM 11GTO:
FROM:
DATE:
SUBJECT:
OF MOORPARK
AGENDA REPORT
The Honorable City Council
Dirk Lovett, Assistant City Engineer
Prepared by Matt Gaspar, Engineering
ITEM J
CITY OF MOORPARK, CALIFORNIA
City Council Meeting
of -20-1411,
ACTION:
Department
January 8, 1999 (City Council meeting of January 20,
1999)
Consider the acceptance of improvements and bond
reduction for IPD 96 -1 - Gibbs and Associates
IPD 96 -1 is an industrial development located at 323 Science
Drive. A vicinity map is attached for your reference (see Exhibit
A). Site development included grading and installation of storm
drainage devices.
DISCUSSION
Construction and installation of all grading and drainage devices
have been completed in accordance with the approved plans and
conditions of development. Project condition 86 required
additional security for the curb to curb reconstruction, or
overlay or slurry the street, as a result of damage from
construction work or utility trenching. The street was inspected
and found to be in satisfactory condition at this time. Bonds for
grading and drainage 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 and it is therefore appropriate to
exonerate and /or reduce the security as outlined in the following
table:
000251
HONORABLE CITY COUNCIL
IPD 96 -1
JANUARY 20, 1999
PAGE 2
Type
Bond #
Surety Co.
Current
Status
Recommended
Action
Grading and
American
Drainage
3SM91255800
Motorists
$29,221
Exonerate
(Performance)
Insurance Co.
Street
Improvements
3SM91255900
American
$5,288
Reduce to
(Performance
Motorists
$528.80
and Payment)
Insurance Co.
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 RECOMWIMATION:
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.
000252
EXHIBIT A
ARROYO
SIMI
SCIENCE
DRIVE
PROJECT
L OCA TION
SPRING
ROAD
NO SCALE
LOS ANGELES
AVENUE
000;!53