HomeMy WebLinkAboutAGENDA REPORT 2001 1205 CC REG ITEM 11MIfTE - It. M .
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TO:
FROM:
DATE:
SUBJECT:
MOORPARK CITY COUNCIL
AGENDA REPORT
Honorable City Council
Walter Brown, City Engineer
BY:I�•�, -
November 7, 2001 (CC meeting of December 5, 2001)
BACKGROUND
CONSIDER REDUCTION OF IMPROVEMENT BONDS FOR SUBDIVISION
IMPROVEMENT AND GRADING OF CARLSBERG TRACT MAP 4974
Simi Moorpark Freeway Properties, Ltd. and CT Investors are the
developers of Tract 4974. The tract is located north of Tierra
Rejada Road and is bordered by Spring Road to the West, Tierra
Rejada Road to the South, SR -23 Freeway to the East and Tract 4973
to the North.
DISCUSSION
The developers began constructing infrastructure improvements for
the tract in June 1997. As a condition of approval of the
construction, a total of six (6) bonds were required by the City to
ensure that all infrastructure work would be completed. The bonds
totaled $5,019,506.00. The infrastructure covered by the bonds
included: grading, storm drain, landscaping (slopes, parkway and
median), a neighborhood park, monuments and street improvements on
Miller Parkway, Tierra Rejada Road and Spring Road. On October 18,
2000, at its regularly scheduled meeting, the City Council
authorized the exoneration and reduction of all bonds with the
exception of the neighborhood park.
During construction, the Engineering Department inspector
discovered that some of the sidewalk had been undermined by
Stormwater flow. The Developer replaced portions of the sidewalk.
Additional areas of sidewalk, less extensively damaged, were
repaired using grouting methods. Concerns about the durability of
the repairs were raised by the Engineering Department. The
Developer agreed to guarantee the integrity of the sidewalk for an
additional period of five years. The developer has completed all
other infrastructure work associated with these bonds. As a
condition of exoneration of the bonds the City Engineer will
require the developer to provide a replacement bond that will
Honorable City Council
Bond Reduction Tract 4974
December 5, 2001
Page 2
continue to secure the replacement of the affected sidewalk. The
amount of the new bond will be $50,160.00 adjusted by the change in
the Engineering News Record (ENR) construction -cost index from
September 1998 to December 2002.
This report has been prepared at the developer's request, to
provide City Council authorization for staff to reduce the surety
for the neighborhood park. It is the City's policy that
improvement bonds be reduced to 10° of their original amount upon
completion of all work and exonerated upon the expiration of a one
(1) year guarantee period. Unless repairs or replacement is
required for the subdivision improvements, the final release of the
bonds will occur one (1) year after the City Council's action to
reduce the bonds. Before full exoneration of the bonds, which
requires City Council approval, the City Clerk requests concurrence
from the City Engineer.
It is appropriate to reduce the bond as outlined in the following
table:
Type
Bond No.
Current
Recommended
Remaining
Status
Action
Bond Amount
Neighborhood
3SM-
$1,074,700
Reduce to 100
$107,470
Park
89093100
Note: The surety Company is American Motorists Insurance.
STAFF RECOMMENDATIONS
1. Accept the park improvements as complete.
2. Authorize the City Clerk to reduce the bond for park
improvements to the amounts shown in the above table and said
bond shall remain in effect for a one -year maintenance period.
Authorize the City Engineer to accept the replacement surety
for damaged sidewalks in the amount of $50,160.00, adjusted by
the Engineering News- Record Construction Cost Index.