HomeMy WebLinkAboutAGENDA REPORT 1994 0216 CC REG ITEM 08DAGENDA REPORT
CITY OF MOORPARK
TO: The Honorable City Council
FROM: Dirk Lovett, Assistant City Engineer
DATE: February 8, 1994 (Council Meeting of 2- 16 -94)
SUBJECT: Consider Reduction of Grading Bond for Tract
4792 (Urban West Communities)
DISCUSSION
ITEM
On December 2, 1993 staff received a request from the developer
to reduce bond 8481 to 20 %. of' its original amount.
A review of the work progress indicates that only minor grading on
a portion of the development is outstanding. It is estimated that
20% of' the grading remains to he completed.
A location of the subject tract is shown on the attached map.
The bond which should he reduced at this time is listed as follows:
Original Current
Tract Bond # Surety Co. Tvne Amount Amount
4792 8481 Pac. States Grading $103,570 $103,570
Casualty Co.
It is recommended that the bond in question he reduced to $20,714
(20% of* the current bond amount).
RECOMMENDATION:
Authorize the City Clerk to reduce grading bond #8481 to $20,714.
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