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Home My WebLink AboutAGENDA REPORT 1999 1006 CC SPC ITEM 04ACITY OF MOORPARK AGENDA REPORT 1-1 Z . `A 1 (312-) ITEM . /4--� CITY OF MOORPARK, CALTFORNTA CittyCovncciil Nfeeting of !- ACTION: A TO: The Honorable City Council FROM: Dirk Lovett, Assistant City Engineer (Prepared by: Jim Colton, Associate Civil Engineer) DATE: September 22, 1999 (CC Meeting of October 6, 1999) SUBJECT: Consider a Request for the Reduction of Sureties for Improvements Associated with the Rite Aid /Kindercare Development, Parcel Map 5001, CPD 95 -1. BACKGROUND The Rite Aid /Kindercare development is located on the northwest corner of Tierra Rejada Road and Spring Road. A vicinity map has been attached for reference. On March 11, 1998, an Agreement for Construction of Subdivision Improvements between Marketplace Partners 3, L.P., "Developers ", and the City of Moorpark was entered into for development of improvements associated with Major Modification No. 1, Tentative Tract Map No. 5001. All construction is complete with the exception of a few minor items. DISCUSSION The developer requests the reduction /exoneration of five sureties on file with City of Moorpark, associated with the above mentioned development (see attached chart) . These sureties guaranteed on site and offsite improvements. All work covered under the grading and drainage, the street improvement, and stockpile sureties has been completed. 000001 Honorable City Council Rite Aid /Kindercare Development September 22, 1999 Page 2 of 3 A performance surety for $35,000 was to cover the completion of remaining building items and completion of onsite parking lot lighting. It is staff's recommendation that this surety be reduced to $15,000.00 to cover remaining issues associated with completion of parking lot lighting modifications. In addition, items guaranteed for completion by the $10,000 cash deposit also include parking lot lighting modifications, which have not received final approval. As such, the Director of Community Development is not recommending release of this deposit. Staff estimates that the $15,000 plus $10,000 will be sufficient to guarantee completion of remaining items. Provided below is a chart describing recommended actions by Staff: STAFF RECOMMENDATION 1) Accept - grading & drainage, street improvements, and temporary stockpile work as complete. 2) Authorize the City Clerk to reduce to 10% surety #444013S as outlined above and to release the reduced 000001; BOND NO. TYPE BOND AMT. RECOMMENDED ACTION 1 4413125 Performance- $67,020.80 Release Grading & Drainage 2 444013S P &P- Street $142,143.00 Reduce to 10% Improvements 3 814053S Performance- $35,000.00 Reduce completion of to $15,000.00 bldg. & site work 4 N/A Cash Deposit- $5,000.00 Release stockpile 5 N/A Cash Deposit- $10,000.00 Leave in Place Temporary Certificate of Occupancy STAFF RECOMMENDATION 1) Accept - grading & drainage, street improvements, and temporary stockpile work as complete. 2) Authorize the City Clerk to reduce to 10% surety #444013S as outlined above and to release the reduced 000001; Honorable City Council Rite Aid /Kindercare Development September 22, 1999 Page 3 of 3 surety after a one year maintenance period, subject to City Engineering Staff approval of such. 3) Authorize the City Clerk to release the cash deposit of $5,000.00 and bond #441312S (grading & drainage), as outlined above. 4) Authorize the City Clerk to reduce to $15,000.00 surety #8140535, as outlined above. 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