HomeMy WebLinkAboutAGENDA REPORT 2005 0907 CC REG ITEM 10RITEM 10 R.
CITY OF MOORPARK, CALIFORNIA
City Council Meeting
Of 9- 9 -
ACTION: 19,A,
MOORPARK CITY COUNCIL
AGENDA REPORT
TO: Honorable City Council
FROM: Rusty Reed, City Engineer -&j or
Prepared by Adam Burks, Assistan Engineer A8
DATE: July 28, 2005 (City Council Meeting of
September 7, 2005)
SUBJECT: Consider Surety Bond Reductions for Zelman
Moorpark Marketplace, LLC (Tract 5321).
BACKGROUND
This project is a commercial development located on the
southeast corner of Miller Parkway and New Los Angeles Avenue. A
vicinity map has been attached for reference.
DISCUSSION
The developer requests the reduction of the three surety bonds
on file with the City of Moorpark, associated with the
aforementioned development (see attached chart).
These sureties guarantee the Street Improvements, Site
Improvements Performance and Payment, and Monuments on the
premises known as Zelman Moorpark Marketplace, LLC (Tract 5321).
All portions covered under these sureties are complete. Staff
recommends that the aforementioned sureties be reduced to 100.
000357
Honorable City Council
July 28, 2005
Page 2
Provided below is a chart describing recommended actions:
STAFF RECONIl4ENDATION
1. Authorize the City Clerk to reduce Surety Bonds for Street
Improvements, Site Improvements and Monuments to loo for Zelman
Moorpark Marketplace, LLC (Tract 5321).
2. Authorize the City Clerk to fully exonerate the referenced
sureties for Tract 5321 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
000358
RECObWENDED
BOND NO.
TYPE
BOND AMT.
ACTION
1
#103849609
Street
$112,287.00
Reduce to 100
Improvements
Site
2
#103849610
$1,437,304.00
Reduce to 100
Improvements
3
#103849591
Surety Bond
$13,061.43
Reduce to 100
Monuments
STAFF RECONIl4ENDATION
1. Authorize the City Clerk to reduce Surety Bonds for Street
Improvements, Site Improvements and Monuments to loo for Zelman
Moorpark Marketplace, LLC (Tract 5321).
2. Authorize the City Clerk to fully exonerate the referenced
sureties for Tract 5321 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
000358
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