HomeMy WebLinkAboutAGENDA REPORT 1987 1123 CC ADJ ITEM 08DMOORPARK
CLINT HARPER, Ph.D. STEVEN KUENY
Mayor
ELOISE BROWN
Mayor Pro Tern
City Manager
CHERYLJ.KANE
City Attorney
THOMAS C. FERGUSON
Councilmember
JOHN GALLOWAY
Councilmember
JOHN PATRICK LANE
Councilmember
MAUREEN W. WALL
City Clerk
TO:
FROM:
DATE:
MEMORANDUM
The Honorable City Council
John F. Knipe, Assistant City
November 9, 1987
SUBJECT: Grading Bond Reduction For
Tract 3070-3 (U.S. Condo)
BACKGROUND INFORMATION
PATRICK RICHARDS, A.I.C.P.
Director of
Community Development
R. DENNIS DELZEIT
City Engineer
JOHN V. GILLESPIE
Chief of Police
THOMAS P. GENOVESE
City Treasurer
Tract 3070-3 is located in the northeast section of the City
of Moorpark near the intersection of Campus park Drive and
North Princeton Avenue. A location map is enclosed for your
reference.
On November 16, 1983, the Moorpark City Council approved the
final map and entered into an agreement with U.S. Condo for
the construction of public improvements. on May 20, 1987,
the public improvements for this tract were accepted and the
bonds exonerated.
The grading bond for this tract in, the amount of $160,000
issued by Developer's Insurance Company (Bond Number 106776
is to remain in full force and effect for one year from the
date of acceptance. This bond extension serves as a
guarantee should any grading problems arise within this one
year period.
The developer has requested a reduction in this bond amount.
Since the project is completed and occupied, it is felt that
a bond reduction is warranted. the City of Moorpark grading
ordinance allows a bond reduction after project completion.
The developer has requested a reduction in the bond to 10%
for the remainder of its term. However, due to the large
amount of grading within this project and the extent of
steeply sloped areas, it is felt that a reduction in the
bond to 20% of its original amount is entitled. This
reduction would allow the bond to decrease from $160,000 to
$32,000.
799 Moorpark Avenue Moorpark, California 93021 (805) 529-6864
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