HomeMy WebLinkAboutAGENDA REPORT 2004 0707 CC REG ITEM 10KMOORPARK CITY COUNCIL
AGENDA REPORT
TO: Honorable City Council 011
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FROM: Brad Miller, City Engineer
Prepared by Clara Magana, Assistant Engineer CA
DATE: June 02, 2004 (CC Meeting of 7/07/04)
SUBJECT: Consider Bond Reduction for Tract 4980 (Western
Pacific)
BACKGROUND
Tract 4980, is a single family residential planned development.
It is located north of Peach Hill and is bordered by New Los
Angeles Avenue to the North, Spring Road to the West and Miller
Parkway to the East. A vicinity map has been attached for
reference.
DISCUSSION
The developer requests the reduction of the 3 sureties on file
with the City of Moorpark, associated with the above - mentioned
development (see attached chart).
These sureties guarantee the construction of street, monument
and drainage improvements and the payment of the contractors who
built them. All work covered under these sureties has been
completed. An amount equal to ten percent of the bonds will be
held for a period of one year to guarantee the work should
defects be found. Staff recommends that these bonds be reduced.
00039'7
Honorable City Council
July 07, 2004
Page 2
Provided below is a chart describing recommended actions by
staff:
STAFF RECOMMENDATION
1. Authorize the City Clerk to reduce sureties #SD00100545,
#SD00100546, and #SD00100543 to 100.
2. Authorize the City Clerk to fully exonerate sureties for
Tract 4980 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:
1. Exhibit `A' Vicinity Map
000398
BOND NO.
TYPE
BOND AMT.
RECOMMENDED
ACTION
1
SD00100545
Drainage
$852,227.00
Reduce to 10%
Improvements
2
SD00100546
Street Improvements
$986,471.00
Reduce to 100
�:3_
SD00100543
Monumentation
$114,932.00
Reduce to 100
STAFF RECOMMENDATION
1. Authorize the City Clerk to reduce sureties #SD00100545,
#SD00100546, and #SD00100543 to 100.
2. Authorize the City Clerk to fully exonerate sureties for
Tract 4980 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:
1. Exhibit `A' Vicinity Map
000398
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EXHIBI T A'
CI TY OF MOORPARK
TR 4980 (Western Pacific)
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