HomeMy WebLinkAboutAGENDA REPORT 2004 0721 CC REG ITEM 10GTO:
FROM:
DATE:
SUBJECT:
BACKGROUND
CITY OF MOORPARK, CALIFORNIA
City Council Meeting
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MOORPARK CITY COUNCIL
AGENDA REPORT
Honorable City Council �,
Brad Miller, City Engineer 15
Prepared by Clara Magana, Assistant Engineer L°/y
July 06, 2004 (CC Meeting of 7/21/04)
Consider Bond Reduction for Tract 4986 (West
America) , Located on the South Side of Poindexter
Avenue
Tract 4986, is an industrial development located on the South
side of Poindexter Avenue in the City of Moorpark. A vicinity
map has been attached for reference.
DISCUSSION
The developer requests the reduction of the 4 sureties on file
with the City of Moorpark, associated with the above - mentioned
development (see attached chart).
These sureties guaranteed grading, streets, monument and
performance bond. All work covered under these sureties has
been completed.
000198
Honorable City Council
July 21, 2004
Page 2
Provided below is a chart describing recommended actions by
staff:
STAFF RECOMMENDATION
1. Authorize the City Clerk to reduce sureties #M101926,
M101927, M101928 and #M101929 to 10% of the original bond
amount.
2. Authorize the City Clerk to fully exonerate sureties for
Tract 4986 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:
I. Exhibit `A' Vicinity Map
000199
BOND NO.
TYPE
BOND AMT.
RECOMMENDED
ACTION
1
M101926
Grading
$29,875.00
Reduce to loo
Performance and
2
M101927
Payment /Labor and
$23,399.00
Reduce to 10%
Material
31
M101928
Monument
$2,532.00
Reduce to 100
Drainage Improvements
4
M101929
Performance /Labor and
$18,376.00
Reduce to 10%
Material
STAFF RECOMMENDATION
1. Authorize the City Clerk to reduce sureties #M101926,
M101927, M101928 and #M101929 to 10% of the original bond
amount.
2. Authorize the City Clerk to fully exonerate sureties for
Tract 4986 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:
I. Exhibit `A' Vicinity Map
000199
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