HomeMy WebLinkAboutAGENDA REPORT 2003 0507 CC REG ITEM 10HTO:
FROM:
DATE:
MOORPARK CITY COUNCIL
AGENDA REPORT
Honorable City Council
'A'C
Walter Brown, City Engineer LJV'�
Prepared By:Clara Magana, Assistant Engineer(.i
March 13, 2003
SUBJECT: Consider Bond
Parcel Map 5242
the Intersection
Rejada Road
BACKGROUND
(Meeting of May 7, 2003)
Reduction and Bond Exoneration for
(Moorpark Partners LLC) , Located at
of Mountain Trail Street and Tierra
Parcel Map No. 5242 is a two lot commercial development located
within the Mountain Meadows shopping center at the intersection
of Tierra Rejada Road and Mountain Trail Street. A vicinity map
has been attached for reference.
Parcel Map No. 5242 represents a land division of 1.56 acres
into 2 parcels. Parcel 1 is comprised of 1.09 acres and Parcel
2 is comprised of 0.47 acres.
DISCUSSION
The developer has requested reduction of the improvement
surety, Bond # 127307, in the amount of $36,837.00, and
exoneration of the grading security deposit in the amount of
$3,085.06. These sureties are on file with the City Clerk.
These sureties were required to guarantee construction of onsite
and offsite improvements. All work covered under these sureties
has been completed. Bond #127307, Performance and Payment Bond
should be reduced to 100, for a total of $3,684, and the Grading
Security Deposit in the amount of $3,085.06 should be exonerated
and the deposit returned.
Honorable City Council
May 07, 2003
Page 2
STAFF RECOD24ENDATION
1. Authorize the City Clerk to reduce surety #127307 to 100,
for a total of $3,684.
2. Authorize the City Clerk to exonerate Grading Security
Deposit in the amount of $3,085.06.
3. Authorize the City Clerk to fully exonerate surety #127307
for Parcel Map 5242 one year after this approval of the
reduction of surety bond, and upon written confirmation
from the City Engineer that no warranty work is required.
ATTACHMENT:
Vicinity Map
01166