HomeMy WebLinkAboutAGENDA REPORT 2002 1002 CC REG ITEM 11JMOORPARK CITY COUNCIL
AGENDA REPORT
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TO: Honorable City Council
FROM: Walter Brown, City Engineer tvjl_�
DATE: August 21, 2002(CC Meeting of October 02, 2002)
SUBJECT: Consider a Request for the Reduction of Sureties
for Tract Improvements and Refund of a Cash Bond
for Street Repairs Associated with Tract 5201
(Wilshire Builders, Inc.)
BACKGROUND
Tract 5201 is located on Silver Oak Lane, east of Rolling Knoll
Road just north of Peach Hill Road. A vicinity map has been
attached for reference.
In April 2000, an Agreement for Construction of Subdivision
Improvements between Wilshire Builders, Inc., "Developers ", and
the City of Moorpark was entered into for development of
improvements associated with Resolution No. 99 -1622. All
construction is complete.
On March 28, 2002, Wilshire Builders, Inc. deposited a cash
surety of $25,703.37 to guarantee slurry seal of a portion of
Peach Hill Road
Discussion
The developer requests the reduction of the four remaining
sureties on file with the City of Moorpark, associated with the
above - mentioned development (see following chart).
Agenda Report
Tract 5201 Bonds
September 18, 2002
Page 2
These sureties guarantee onsite and offsite improvements. All
work covered under the Subdivision Improvement and Payment,
Grading, Monument, and Street Improvement sureties has been
completed. Staff recommends that these bonds be reduced to ten
percent for a one -year warranty period of the bonded
improvements. If no repair work is required after the one -year
warranty period the remaining bonds will be released
The developer also requests a refund for the cash surety
received on March 28, 2002. Because the repairs on Peach Hill
Road have been completed to the satisfaction of the City
Engineer, it is the staff's recommendation that the cash bond be
refunded.
mi-,� -F „i I —T, nrf chart- c11MMAri 7PR the anti tens recommended by staff:
STAFF RECOMMENDATION
1. Authorize the City Clerk to reduce surety bonds
#SD00076748, SD00076749, SD00076750, and SD00076751 as
outlined in the agenda report.
2. Authorize the City Clerk to refund the cash surety for
street repairs in the amount of $25,703.37 to Wilshire
Builders.
3. Authorize the City Clerk to fully exonerate all surety
bonds held by the City for Tract 5201 one year after this
approval of the reduction of surety bonds and upon written
confirmation from the City Engineer that no warranty work
is required.
Attachments: `A' Location Map
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BOND NO.J
TYPE
BOND AMT.
RECOMMENDED ACTION
Subdivision
1
SD00076748
Improvement and
$81,244.00
Reduce to $8,124.00
Payment
2
SD00076749
Grading
$21,872.00
Reduce to $2,187.00
3
SD00076750
Monument
$527.00
Reduce to $52.00
4
SD00076751
Street Improvement
$35,020.00
Reduce to $3,502.00
5
-
Street Repairs
$25,703.37
Refund
(Cash)
STAFF RECOMMENDATION
1. Authorize the City Clerk to reduce surety bonds
#SD00076748, SD00076749, SD00076750, and SD00076751 as
outlined in the agenda report.
2. Authorize the City Clerk to refund the cash surety for
street repairs in the amount of $25,703.37 to Wilshire
Builders.
3. Authorize the City Clerk to fully exonerate all surety
bonds held by the City for Tract 5201 one year after this
approval of the reduction of surety bonds and upon written
confirmation from the City Engineer that no warranty work
is required.
Attachments: `A' Location Map
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C
City of Moorperk
2002 Slurry Seal Project
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EXHIBIT "A"
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