HomeMy WebLinkAboutAGENDA REPORT 1985 0506 CC REG ITEM 12C MOORPARK
ALBERT PRIETO STEVEN KUENY
Mayor PPOK °4 c City Manager
JAMES D.WEAK CHERYL J. KANE
Mayor Pro Tern 440111.t
/ .1\ City Attorney
THOMAS C. FERGUSON 0401* NIALL FRITZ
Councilmember irat . `W Director of
DANNY A. WOOLARD o-� `; Community
Councilmember C9o� Development
LETA YANCY-SUTTON �r�o R. DENNIS DELZEIT
Councilmember City Engineer
DORIS D. BANKUS JOHN V. GILLESPIE
City Clerk MEMORANDUM Chief of Police
JOHN C. GEDNEY
City Treasurer
TO: The Honorable City Council
FROM: R. nnis Del it, City Engineer
DATE: City Council Meet' g of May 6, 1985
SUBJECT: Request by Century Homes, Inc. to Reduce the Amount of the
Grading Bond on RPD-999
BACKGROUND INFORMATION
Century Homes, Inc. is currently constructing a Senior Citizen's Housing
Development, located on the corner of Charles Street and Magnolia Avenue
in the City of Moorpark. A Vicinity Map is enclosed for reference.
The rough grading for the project has recently been completed and a copy
of the Final Report for the rough grading dated April 15, 1985, prepared
by Buena Engineer's, Inc., has been received by the City Staff. Said
report states in part " it is our opinion that the recommendations of
the reference soil investigations have been met".
In accordance with the Standard Land Development Specifications, Chapter
7, Paragraph 7204, it is now appropriate to reduce the existing
Irrevocable Letter of Credit No. SB-25561, issued by Peoples National
Bank of Washington, from $67,514.00 to $20,000.00. It is felt that this
figure will be appropriate to cover the remaining liabilities and secure
the protection of the public interest.
RECEIVED
APR 301985
City of Moorpark
799 Moorpark Avenue Moorpark, California 93021 (805)529-6864
Page 2
RECOMMENDED ACTION
Authorize the City Clerk to reduce the existing irrevocable Letter of
Credit from the current amount of $67,514.00 to $20,000.
RDD:JW:jg
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