HomeMy WebLinkAboutAG RPTS 1998 1202 RDA REGJESTABLISHED
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ANNOTATED
MOORPARK REDEVELOPMENT AGENCY
REGULAR MEETING AGENDA
WEDNESDAY, DECEMBER 2, 1998
7:00 P.M.
Moorpark Community Center
1. CALL TO ORDER:
9:00 P.M.
2. ROLL CALL:
ALL PRESENT
3. PUBLIC COMMENT:
4. PUBLIC HEARINGS:
5. PRESENTATION /ACTION /DISCUSSION:
. i E
799 Moorpark Avenue
A. Consider Program Guidelines - Down Payment Assistance Program
Using HOME Funds. Staff Recommendation: Adopt the Guidelines
�•`��i� as itemized in the staff report for the Down Payment
Assistance Program using HOME funds.
APPROVED
B. Consider the Purchase of Real Property from the City of
Moorpark and Adoption of Resolution No. 98 -74 Appropriating
Housing Set -Aside Funds for the Purchase. Staff
Recommendation: 1) Approve the purchase of the three (3)
parcels of land identified in the staff report from the City
✓'q of Moorpark for the price of $45,000 in housing set -aside
funds; and 2) Adopt Resolution No. 98 -74 appropriating $45,000
in housing set -aside funds for the purchase of said parcels.
ADOPTED RESOLUTION NO. 98 -74
Annotated Redevelopment Agency Agenda
November 18, 1998
Page 2
C. Consider Bids for the Construction of Alley Improvements Phase
2. Staff Recommendation: 1) Award a contract to Channel
Islands Paving, Inc. in the amount of $39,431 for the
construction of the subject project; 2) Approve a construction
contingency in the amount of $5,169 and authorize the City
`'009 Manager to approve additional work, if required, for a cost
1, not to exceed said contingency; and 3) Authorize the City
Manager to sign the contract documents for the subject project
(ROLL CALL VOTE REQUIRED)
APPROVED AND ADOPTED RESOLUTION NO. 98 -75
6. CONSENT CALENDAR:
7. CLOSED SESSION:
A. CONFERENCE WITH REAL PROPERTY NEGOTIATOR
Property: 226 High Street, Moorpark, CA 93021
Negotiating Parties: The Redevelopment Agency of the City of
Moorpark and Jemco Plumbing.
Under Negotiation: Price and Terms of payment
8. ADJOURNMENT:
12:45 A.M.
/9*. / M
ITEM • A . .
CITE' OFMOORPARK, CALIFORNIA
Redevelopment .Agency Meeting
of I - Z ''14
ACTION: .�
Approved
and - - BY:
MOORPARK REDEVELOPMENT AGENCY
AGENDA REPORT
TO: Honorable City Council and
Honorable Agency Board of Directors
FROM: Nancy Burns, Senior Management Analyst
DATE: November 16, 1998
(CC and MRA Meeting of December 2, 2998)
SUBJECT: Consider Program Guidelines -
Down Payment Assistance Program
Using HOME Funds
Summary
Guidelines for the Down Payment Assistance Program using HOME
Funds are being presented, along with recommendations to increase
the maximum loan amount and extend the program to Low Income
households.
Background
At its meeting of April 15, 1998, the Moorpark City Council
approved the reallocation of fifty thousand dollars ($50,000) in
HOME funds from FY 1996/97 from housing rehabilitation assistance
to down payment assistance for Very Low Income first time home
buyers. The Moorpark Redevelopment Agency authorized funds for
the twenty -five percent (250) match required by the HOME Program
at its meeting of September 16, 1998. At the recommendation of
County staff, the City is the applicant for these funds, rather
than the Agency. A maximum loan amount of twelve thousand five
hundred dollars ($12,500) per transaction was established. This
funding match of twelve thousand five hundred dollars ($12,500)
and the HOME funds provides a total funding assistance of sixty -
two thousand five hundred dollars ($62,500). The Agency approved
3.
AGNDARPT \HOME -Drawn Payment Assistanr.e- Guidelines- Nnve.mber 5, 1998 - 11!23!98
the use of Set -aside funds to allow up to two (2) of the
transactions to be funded outside the Redevelopment Project Area.
Discussion
Regulations for the HOME Program limit the purchase price of
assisted units to ninety -five percent (95o) of the area median
purchase price for single family housing or the current HUD
203(b) loan limits. That amount is currently one hundred seventy
thousand three hundred sixty -two dollars ($170,362).
Housing Set -aside funds used to assist Low and Very Low Income
households in the purchase of owner - occupied housing at an
"affordable housing cost" are subject to Health and Safety Code
Section 50052.5, which limits housing cost to thirty percent
(300) of household income. Based on recent sales in the Downtown
area, it is apparent that Very Low Income households are likely
to require a substantial degree of assistance to purchase a home.
A Very Low Income family of four (4) would need approximately
sixty -three thousand five hundred dollars ($63,500) in assistance
to purchase a home selling for one hundred forty thousand dollars
($140,000). Low Income families could purchase this home with
approximately nineteen thousand seven hundred dollars ($19,700)
in assistance. An increase in the maximum loan amount would
result in a decrease in the number of loans that could be funded.
At a maximum loan amount of twenty thousand dollars ($20,000),
three loans, at a minimum, could be funded. These estimates are
based on a minimal three percent (30) down payment from
borrowers.
California Redevelopment Law requires that new or substantially
rehabilitated housing units developed or otherwise assisted with
Housing Set -aside funds remain affordable to Low, Very Low and
Moderate Income households for the longest feasible time, but not
less than ten (10) years for owner - occupied units. Section
33334.3(f)(1)(B) of the Health and Safety Code allows for the
sale of a unit prior to the expiration of the ten (10) year
period for a price in excess of that which would otherwise be
allowed, providing that a program such as an equity sharing
agreement protects the agency's investment. Under such a
program, the seller is entitled to a share of the equity
appreciation based on length of occupancy.
Although the program recommended in this report does not concern
new or substantially rehabilitated units, it is suggested that an
Agency- assisted unit be deed restricted for ten (10) years. This
is also consistent with HOME Regulations.
In order to ensure ongoing affordability, a non - amortizing,
deferred repayment structure is recommended for the second
2
AGNDA1kPT%9OME -Down Payment Assistance - Guidelines- Novomher 5, 1998 - 11/23/98
mortgage, by which the full principal is repaid when the property
is sold or any other "triggering event" occurs, as outlined in
the Deed of Trust and /or Covenant Agreement,
A shared equity arrangement penalizes the owner for selling
during the period of affordability to a non -Low Income buyer. If
a property is sold within five (5) years of purchase to a non -Low
Income buyer, the portion of net equity appreciation that would
be returned to the City is equal to half the percentage of the
original purchase price that was supplied by HOME funds. For
instance, if the City supplied sixteen thousand eight hundred
dollars ($16,800) for a purchase price of one hundred forty
thousand dollars ($140,000), the percentage of assistance is
twelve percent (120) of the purchase price. If the property was
sold to a non - eligible buyer during the first five (5) years,
half that percentage (one half of twelve percent) or six percent
(60) of the net proceeds from the sale would be returned to the
City.
Eight percent (80) deferred interest during the first two (2)
years, followed by three percent (3%) deferred interest for the
following eight (8) years is recommended, to be forgiven if the
property is resold to another qualified Low Income buyer during
the period of affordability, and forgiven completely after ten
(10) years.
Minimum down payment requirements would be between three percent
(3o) and five percent (50) of purchase price from borrower's own
funds, or gift from immediate family member. Total assistance
would be limited to the amount of assistance required to
facilitate the purchase, up to the maximum amount provided under
program guidelines ($20,000),
Summary
A need exists for assistance to both Low and Very Low Income
households to enable them to purchase decent housing. Conditions
on the use of Housing Set -aside funds limit the monthly payment
for all components of housing, including mortgage, interest,
insurance, taxes, utilities and maintenance to thirty percent
(30%) of gross monthly income. Restrictions which limit the
housing cost that can be borne by Low and Very Low Income
families who are assisted with these funds, coupled with the cost
of housing in Moorpark, mean that a large gap needs to be bridged
if more of these families are to achieve homeownership.
Increasing the maximum loan amount to twenty thousand dollars
($20,000) from twelve thousand five hundred dollars ($12,500) and
targeting Low Income households will help to facilitate this.
This also will result in a reduction in the number of loans
funded to a minimum of three (3) loans. Extending this program
3
AGNDARPTIHOME -Down Payment. Assistance- ruide.lines- Novemh?x 5, 1999 - 11123/99
V 4 (; U v
to include Low Income families, which is consistent with HOME
requirements, will enable the allocated funds to be put to their
intended use more rapidly.
The purpose of the HOME Program and Housing Set -aside funds is to
enable lower income households to obtain decent housing.
Protection for the City and assurance that the program will truly
aid those who are assisted by it have been built into the
following guidelines. Even the nominal interest charges
suggested could become an additional burden for a buyer who
needed to sell the property because of job relocation or family
emergency, if the sale occurred during a period of declining
property values. Worthy applicants who have the opportunity to
become homeowners can be expected to contribute to the
neighborhood and the community, as they are more fully vested in
both.
The provisions on the attached page have been developed to enable
the City to secure a lender to provide first trust deed financing
and other services, to protect the City's position as a second
trust deed holder for anticipated transactions, and to facilitate
the administration of this program in an efficient and equitable
manner.
The City anticipates selecting one lender to handle these
transactions and anticipates requesting that lender to underwrite
the second mortgage, as well, to minimize staff time. The City
understands that this service would be a recommendation to
approve or not approve the application for a second mortgage, and
the City would provide the final approval for second mortgages
under the program.
Recommendation
Staff recommends the City Council and the Agency Board of
Directors adopt the Guidelines as itemized on the following page
of this staff report for the Down Payment Assistance Program
using HOME funds.
Attached: Recommended Guidelines
4
AGNDARPT`HOME -Dcwn Payment 5, 1949- 11/23/99
Recommended Guidelines
1. Eligible properties to include single family detached or
condominium properties in the Downtown and Campus Park
areas, as indicated in the HOME application, with a purchase
price not to exceed HUD 203(b) loan limits, currently one
hundred seventy thousand three hundred sixty -two dollars
($170,362);
2. Eligible participants to include qualified Low Income
households;
3. Ten (10) year deed restrictions to ensure affordability, per
Sections 33334.3(f)(1)(B) and (2) of California
Redevelopment Law;
4. City of Moorpark to have right of first refusal during
period of affordability, for normal sales only, not to
include foreclosures, with purchase price to be based on the
lesser of (a) fair market value, based on an independent
appraisal of the property, (b) the offered sales price, and
(c) for four (4) years after the recording of the City's
second trust deed, the increased base price, which
represents the owner's original purchase price plus the
percentage increase in the Consumer Price Index (CPI) for
Los Angeles- Riverside - Orange County from the time of
purchase until owner's notification of intent to sell,
multiplied by the owner's original purchase price, in order
to provide City with option to purchase if property is sold
during period of affordability;
5. Down payment from purchaser's own funds or family gift to be
a minimum of three percent (30) of purchase price, per first
trust deed investor requirements;
6. Second mortgage in favor of City to be recorded concurrently
with lender's first mortgage, with second mortgage
subordinate to first mortgage;
7. Loan amount limited to the difference between maximum first
mortgage loan which buyer can obtain plus applicant's down
payment and the purchase price plus closing costs, to a
maximum of twenty thousand dollars ($20,000), providing that
buyer's housing costs do not exceed thirty percent (30 %) of
gross income;
8. Loan terms to include the following:
A. Full repayment of principal upon any triggering event;
5
AGNDARPT \HOME -Dram Payment Assistance- Gnidelin?s- NnvemhPr 5, 1998- 11/23198
COC (3):j-
B. Triggering events to include sale of property; death of
last remaining owner; illegal use of property, including
overcrowding; recordation of any voluntary lien junior to
City's second trust deed; refinancing of first mortgage
with cash out; and the subject property ceasing to be
owner's residence;
C. Deferred interest:
i. Eight percent (8 %) interest during first two (2)
years,
ii. Three percent (3n) interest during years three (3)
through ten (10):
iii. Forgiven if the property is resold to another
qualified Low Income buyer during the period of
affordability;
iv. Forgiven after ten (10) years;
D.Shared equity appreciation during period of
affordability, based on percentage of HOME assistance to
purchase price:
i. Half ('-�) of percentage of HOME assistance to
purchase price times net proceeds if sold to non -
low income buyer during first five (5) years,
ii. One fourth (14) of percentage of HOME assistance to
purchase price times net proceeds if sold to non -
low income buyer during years six (6) through ten
(10);
9. Covenant Agreement to include maintenance requirements,
legal use of property, and restriction against subsequent
voluntary liens without written pre - approval by City;
10. HUD- approved home buyer education provided by lenders,
including post - purchase early delinquency counseling;
11. Appraisers to complete Housing Quality Standards checklist;
12. Escrow company to be approved by City of Moorpark;
13. Annual monitoring to be conducted to ensure compliance with
HOME regulations and California Redevelopment Law and to
evaluate progress toward enabling Low Income households to
become homeowners.
is
AGNDARPT \HOME -Down payment Asia *_ante- Gtiidelinec- November 5, 1998- 11/23/98
UQC01 () �;
MOORPARK REDEVELOPMENT
AGENDA REPORT
U5 .17
ITEM
CITV OF MOORPARK, CO3FORNIA
Redevelopment A ency 'Meeting
of - 7" .
AGENF&YTIO f'
_R�SO u t-nrn b $�- % 4-
BY:
TO: Honorable Agency Board of Directors
FROM: John E. Nowak, Assistant Executive Director 4�
DATE: November 16, 1998 (MRA Meeting of 12/02/98)
SUBJECT: CONSIDER THE PURCHASE OF REAL PROPERTY FROM THE
CITY OF MOORPARK AND ADOPTION OF RESOLUTION NO.
98- APPROPRIATING HOUSING SET -ASIDE FUNDS FOR
THE PURCHASE.
BACKGROUND: The City of Moorpark purchased three (3)
parcels of land located between Los Angeles Avenue and the
Arroyo Simi in tax - default sales. The properties have
potential to assist development with affordable housing
components. A purchase of the parcels from the City would
be in keeping with the Agency's goals of promoting
affordable housing.
DISCUSSION: In 1992 and 1995 the City purchased a total
of three parcels from a tax - default sale. Combined the
parcels total approximately 2.7 acres in size and cost
$31,941. The parcels are APN 506 -0- 020 -490, APN 506- 0 -020-
500 and APN 506 -0- 020 -525. (See attached map.)
The City is proposing to sell the three parcels for a total
of $45,000 to the Moorpark Redevelopment Agency's housing
program. The property has the potential of assisting in
the development of adjacent residential projects which
include affordable housing units. The purchase of the
property is an appropriate use of housing set -aside funds
remaining from the 1994 bond issue. The attached
resolution would appropriate the $45,000 from these set -
aside funds for the acquisition.
VW Vry
Purchase of Property
Meeting of 02 December 1998
Page 02
The City has been approached by Kaufman & Broad to purchase
two of the parcels for use in conjunction with its
development immediately to the east. With this purchase of
the property, the sale discussions will be with the Agency.
Other residential development in the area will most likely
benefit from the use of the remaining parcel.
STAFF RECOMMENDATION: That the Redevelopment Agency Board
of Directors; (1) Approve the purchase of the three (3)
parcels of land identified in the staff report from the
City of Moorpark for the price of $45,000 in housing set -
aside funds; and (2) Adopt Resolution No. 98-
appropriating $45,000 in housing set -aside funds for the
purchase of said parcels.
Attached: Location Map
Resolution No. 98-
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RESOLUTION NO. 98-
A RESOLUTION OF THE CITY OF MOORPARK
REDEVELOPMENT AGENCY, CALIFORNIA, AMENDING THE FY
1998/99 BUDGET TO APPROPRIATE HOUSING SET -ASIDE
FUND FOR APPLICATIONS COSTS PERTAINING TO
PURCHASE OF CERTAIN PARCELS FROM THE CITY OF
MOORPARK.
WHEREAS, on July 15 1998 the Redevelopment Agency
Board of Directors adopted the Budget for Fiscal Year 1998-
1999; and
WHEREAS, a staff report has been presented to said
Council describing the costs associated with purchasing
certain parcels of land from the City of Moorpark for
housing programs; and
WHEREAS, Exhibit "A" hereto describes said budget
amendment and resultant impacts to the current budget.
NOW, THEREFORE, THE BOARD OF DIRECTORS OF THE CITY OF
MOORPARK REDEVELOPMENT AGENCY DOES HEREBY RESOLVE AS
FOLLOWS:
SECTION 1. A budget amendment in the amount of
$45,000 be appropriated from the Agency's Housing Set -Aside
Fund for a new capital improvement project - Land
Acquisition (Division 512), as more particularly described
in Exhibit "A" attached hereto and made a part hereof.
PASSED AND APPROVED this 2nd day of December 1998.
ATTEST:
Deborah S. Traffenstedt, Secretary
Patrick Hunter, Chairman
C01 LCIL()
RESOLUTION NO. 98-
EXHIBIT "A"
BUDGET AMENDMENT DETAIL
APPROPRIATION
FUND ACCOUNT NUMBER AMOUNT
MRA Housing Set -Aside 232.000.0000.000.5252 $45,000
BUDGET REVISION
CURRENT INCREASE/ REVISED
ACCOUNT NUMBER BUDGET (DECREASE) BUDGET
210.510.0000.000.9901 $0 $45,000 $45,000
(Land Acquisition)
U0CUl 11
To:
From:
Date:
CIT$* OF MOOR PARK, CALIFORNIA
Redevelopment Agency Meeting
Of
� �- ' 2. 1 e
ACTION: P Yd yg-of Q hd_
ad�af� �2�5o.No••q�75
City of Moorpark
Agenda Report BY: 45-A- PUL
The Honorable City Council
The Moorpark Redevelopment Agency
Kenneth C. Gilbert, Director of Public Works
November 18, 1998 (Council Meeting 12 -2 -98)
Subject: Consider Bids for the Construction of Alley Improvements
Phase 2
EXECUTIVE SUMMARY
On October 21, 1998, the City Council authorized staff to advertise
for receipt of bids for the subject project. This presents the
results of the bid opening held on November 17, 1998, and
recommends the award of a contract for the construction of the
project.
DISCUSSION
A. Background
Last March the City Council approved the Notice of Completion
for a project to construct improvements to Maureen Lane, Bonnie
View Street and the downtown alleys. Included in that report
was information regarding the need to construct additional
improvements along the edges of the alleys reconstructed by
that project. That report stated that efforts to negotiate a
Change Order to the original contract to add this additional
work had failed and that it would be necessary to have this
work done under a separate contract.
B. Scope of Work
The scope of the Phase 2 project consists of the construction
of additional improvements at the edges of the newly
reconstructed alley pavement. The types of improvements to be
constructed are described on the diagram attached as Exhibit 1.
) ( -21.2
Alleys Phase 2:
December 2, 1998
Page 2
Consider Bids
In addition to the above described improvements, the project
also includes the reconstruction of a portion of the existing
driveway located on the west side of the alley just north of
Second Street, serving the property at 432 Moorpark Avenue. The
owner of that property is in concurrence with this solution and
has granted the City a Right -of -Entry permit for this work. The
scope of work also includes the construction of a trench drain
in the alley just north of Second Street to provide positive
drainage from the driveway to be replaced to Second Street.
C. Bid Results
Bids for the subject project were received and opened on
November 17, 1998. The apparent low bidder is Channel Islands
Paving, Inc., with a bid of $39,431.00. A summary of the bid
results is attached as Exhibit 2. It has been determined that
the apparent low bidder is qualified to perform the work. Said
bidder has confirmed that their bid is valid and that they are
prepared to proceed with the construction of the project.
D. Fiscal Impact
1. Prior Project Costs: The total cost for the Alley
improvements already constructed is $196,000.
2. Estimated Cost of Phase 2 Improvements:
• Design $ 3,400
• Construction $39,431
• Constr. Contingency (15 %) $ 5,169
• Admin. / Inspection $ 6,000
Total $54,000
3. Budget Adjustment: This project is funded by the Moorpark
Redevelopment Agency. The attached Resolution amends the MRA
Budget for FY 1998/99 to provide sufficient funds to proceed
with the project. A summary of the actions proposed by that
Resolution is as follows:
• Current Budget
Prior Year Carryover $11,455
FY 98/99 Appropriation $30,000
Total $41,455
• Proposed Increase $12,545
• Proposed Amended Budget Amount $54,000
Alley2 awd
CVC (AL 3
Alleys Phase 2: Consider Bids
December 2, 1998
Page 3
E. Schedule
It is anticipated that construction will commence in December
and be completed in January.
RECOMMENDATIONS [Roll Call Vote Required]
MOORPARK REDEVELOPMENT AGENCY:
Staff recommends that the Moorpark Redevelopment Agency adopt
MRA Resolution 98 - amending the FY 1998/99 Budget by
increasing the appropriation and budget amount for the subject
project from $41,455 to $54,000 ($12,545 increase).
CITY OF MOORPARK:
Staff recommends that the City Council take the following
actions:
1. Award a contract to Channel Islands Paving, Inc. in the
amount of $39,431 for the construction of the subject
project;
2. Approve a construction contingency in the amount of $5,169
and authorize the City Manager to approve additional work,
if required, for a cost not to exceed said contingency; and,
3. Authorize the City Manager to sign the contract documents
for the subject project.
Alley2 awd
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City of Moorpark
Exhibit 2
Bid Results: Alleys Phase 2
Page 1 of 2
[File # alley 2]
Bidder » »>
Vendor 1
17 -Nov -98
Name:
Engineer's Estimate
Channel Islands
Inc
Address:
355 N Lantana
St #685
Cit. State:
Camarillo, CA 93010
Tel. No.:
805- 388-0112
Contact Person:
Jerome Contreras
Item Description
Est Qty Units
Unit Cost
Total Bid
Unit Cost
Total Bid
-
I Clearing & Grubbing
1 LS
5,000.00
5,000.00
10,000.00
10,000.00
2 A/C Pavement
9,990 SF
1.40
13,986.00
1.00
9,990.00
3 6' PCC Pavement
1,030 SF
6.00
6,180.00
5.00
5,150.00
4 Gravel
5,740 SF
0.70
4,018.00
1.00
5,740.00
5 4' wide Trench Drain
45.00 LF
40.00
1,800.00
10.00
450.00
6 Curb Drain
1 EA
600.00
600.00
100.00
100.00
7 Traffic Control
1 LS
2,500.00
2,500.00
8,000.00
8,000.00
8 Release
1 LS
1.00
1.00
1.00
1.00
0.00
Total
34,085.00
39,431.00
City of Moorpark
Exhibit 2
Bid Results: Alleys Phase 2
Page 2 of 2
[File # bid alley 21
Bidder » »>
Vendor 2
Vendor 3
17 -Nov-98
Name:
CNM Paving
Berry Beneral Eng
Address:
2510 -G Las Poses
Rd [#449]
P O Box 7178
Cit, State:
Camarillo, CA 93010
Oxnard, CA 93031
Tel. No.:
805- 389 -1475
805 -485 -9826
Contact Person:
Matt Ludlow
Dan Berry
Rem Description
Est Qty Units
Unit Cost
Total Bid
Unit Cost
Total Bid
1 Clearing & Grubbing
1 LS
19,950.00
19,950.00
10,450.00
10,450.00
2 A/C Pavement
9,990 SF
2.50
24,975.00
3.00
29,970.00
3 6" PCC Pavement
1,030 SF
7.00
7,210.00
8.55
8,806.50
4 Gravel
5,740 SF
2.50
14,350.00
5.05
28,987.00
5 4" wide Trench Drain
45.00 LF
52.00
2,340.00
95.00
4,275.00
6 Curb Drain
1 EA
2,300.00
2,300.00
1,030.00
1,030.00
7 Traffic Control
1 LS
1,600.00
1,600.00
2,965.00
2,965.00
8 Release
1 LS
1.00
1.00
1.00
1.00
Total
72,726.00
86,484.50
■I(Ir n17
RESOLUTION NO. 98 -
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF
THE CITY OF MOORPARK, CALIFORNIA, AUTHORIZING
A BUDGET AMENDMENT TO THE FISCAL YEAR 1998/99
ADOPTED BUDGET FOR THE MOORPARK REDEVELOPMENT
AGENCY FUND [FUND 4101
WHEREAS, on July 15, 1998, the Moorpark Redevelopment Agency
adopted the MRA Budget for Fiscal Year 1998/99; and,
WHEREAS, a staff report has been presented to the MRA
requesting an increase to the amount budgeted for an MRA funded
capital improvement project; and,
WHEREAS, Exhibit "A," attached hereto and made a part hereof,
describes said budget amendment and its resultant impacts to the
budget line item(s).
NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF
MOORPARK, CALIFORNIA, DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. That the appropriation and budget amount for the
Alleys Phase 2 project is hereby increased from $41,455 to $54,000
($12,545 increase) as more particularly described in Exhibit "A."
PASSED AND ADOPTED this 2nd day of December, 1998.
Patrick Hunter, Chairman
ATTEST:
Deborah S. Traffenstedt, Secretary
COUGIS
Resolution No. 98 -
Exhibit "A"
ADDITIONAL APPROPRIATIONS FOR
PROJECT 8001 (Alleys Phase 2)
FUND
ACCOUNT NUMBER
APPROPRIATION
TO ACCOUNT NUMBER
ACTUAL
EXPENDITURES
Prior Year
Carryover
REQUEST
$(11,455)
MRA
410.000.0000.000.5100
$12,545
400.801.8001.000.3992
TOTAL TRANSFERS
$(11,445)
$12,545
MRA Fund
FROM RESERVES:
$(30,000)
$12,545)
$(42,545)
SUMMARY OF TRANSFERS IN / (OUT) BY FUND
FUND
ACCOUNT NUI4BER
CURRENT
BUDGET
REQUESTED
CHANGED
ACTUAL
EXPENDITURES
Prior Year
Carryover
400.801.8001.000.9801
$(11,455)
$11,455
$0
To Fund 410
410.801.8001.000.9801
$0
$(11,445)
$(11,445)
MRA Fund
410.801.8001.000.9801
$(30,000)
$12,545)
$(42,545)
Total
$0
$(41,455)
$(12,545)
$(54,000)
DISTRIBUTION OF APPROPRIATIONS TO EXPENSE ACCOUNT NUMBERS
ACCOUNT
CURRENT
SUBJECT
REVISED
NUMBER
APPROPRIATION
APPROPRIATION
APPROPRIATION
/ (REDUCTION)
400.801.8001.802.9102
$11,455
$(11,455)
$0
Design
410.801.8001.802.9102
$0
$3,400
$3,400
Design
410.801.8001.804.9903
$29,000
$15,600
$44,600
Construction
410.801.8001.808.9102
$1,000
$5,000
$6,000'
TOTALS:
$41,455
$12,545
$54,000
c ()C(A-�)