HomeMy WebLinkAboutAGENDA REPORT 2005 0907 CC REG ITEM 10SITEM o.s.
MWOMMUNIM
CITY OF MOORPARK, CALIFORNIA
City Council Meeting
MOORPARK CITY COUNCIL of 9- %o?ODS
AGENDA REPORT ACTION: do.yls- Z�r
TO: Honorable City Council
FROM: Rusty Reed, City Engineer rL�7 bA-
Prepared by Adam Burks, Assistant Engineer I'7�
DATE: July 20, 2005 (City Council Meeting of
September 7, 2005)
SUBJECT: Consider Surety Bond Reductions for Cabrillo
Economic Development Corporation, Mountain View
Homes (Tract 5161) .
BACKGROUND
This project was a housing development located on the southwest
corner of Gisler Road and Poindexter Avenue. A vicinity map has
been attached for reference per Exhibit `A'.
DISCUSSION
The developer requests the reduction of the five bonds on file
with the City of Moorpark, associated with the aforementioned
development (see attached chart).
These sureties guarantee the Performance and Payment
Improvements, Grading and if required Resurfacing /Repair of
Poindexter Avenue on the premises known as Mountain View Homes
(Tract 5161). All portions covered under these sureties are
complete. Staff recommends that these bonds be reduced to 100.
000360
Honorable City Council
July 20, 2005
Page 2
Provided below is a chart describing recommended actions:
STAFF RECOM4ENDATION
1.Authorize the City Clerk to reduce the above referenced surety
bonds to 10% for Cabrillo Economic Development Corporation,
Mountain View Homes (Tract 5161).
2.Authorize the City Clerk to fully
referenced sureties for Cabrillo
Corporation, Mountain View Homes (Tract
this approval of the reduction of the
written confirmation from the City Eng.
work is required.
ATTACHMENT:
1. Exhibit `A' Vicinity Map
exonerate the above
Economic Development
5161) one year after
surety bonds and upon
_veer that no warranty
00036'
BOND NO.
TYPE
BOND AMT.
RECOMMENDED
ACTION
1
#3SM98563000
Performance &
$364,796.00
Reduce to 100
Payment Surety Bond
2
#3SM98563200
Grading Bond
$50,784.00
Reduce to 100
3
#3SM98563300
Subdivision Bond
$15,230.00
Reduce to loo
Faithful Performance
4
#835229S
Performance &
$303,962.20
Reduce to 100
Payment Surety Bond
5
#8358305
Surety Bond Grading
$202,791.85
Reduce to 100
STAFF RECOM4ENDATION
1.Authorize the City Clerk to reduce the above referenced surety
bonds to 10% for Cabrillo Economic Development Corporation,
Mountain View Homes (Tract 5161).
2.Authorize the City Clerk to fully
referenced sureties for Cabrillo
Corporation, Mountain View Homes (Tract
this approval of the reduction of the
written confirmation from the City Eng.
work is required.
ATTACHMENT:
1. Exhibit `A' Vicinity Map
exonerate the above
Economic Development
5161) one year after
surety bonds and upon
_veer that no warranty
00036'
S.P.R.R.
POINDEXTER AVENUE
DIABLO AVE.
Lu PALOMAR AV
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EVEREST
AVE.
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No. 5161
0 POINDEXTER
� PARK
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LASSEN AVE.
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LOS ANGELES AVE. - 118
VICINI T Y MAP
NO SCALE
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000362