HomeMy WebLinkAboutAGENDA REPORT 1994 0202 CC REG ITEM 08IITEM-8-101,*
AGENDA I2 E:PC)RT
CITY OF MOOR ��ARK
TO: The Honorable City Council
FROM: Kenneth C. Gilbert, Director of Public: Works
DATE: January 25, 1994 (Council Meeting 2 -2 -94)
SUBJECT: Consider Exoneration of Bonds for Tracts 3963eQ_, 3962; -:2 _ : •:
& 3963 -3 [Griffin Homes i
DISCUSSION
A. Location
The location of the subject tract is shown on the attached map.
B. Tract 3963 -4
The construction of
on -site and off -site
improvements for Tract
3963 -4 have not been completed. There is no
request for
exoneration of the
bonds for this phase
of development.
It is
recommended that these bonds remain
in full
force. For
reference the bonds
for Tract -1963--4 are
listed as
follows:
trails
within the boundaries
Original
Current
_ Tract Bond Ref
Surety Co. Type.
Amount
Amount
3963 -4 971401 S 86 -;
DICO Monument
83,000
83,000
3963 -4 971400 S 86 -2
DICO Grading
270,300
270,300
3963 -4 971399 S 86 -s
DICO Performance
795,300
795,300
PI.ment
B. Trails
Staff
has been
advised that
it is
the intent of the developer
and /or
the Home
Owners Association
to apply to the City for a
modification
to
the approved RPD for
the subject Tracts as it
pertains
to the
development and maintenance of certain joint use
trails
within the boundaries
of the
subdivision. That action is
still
pending.
The bonds
which
guarantee implementation of
these
improvements must be
maintained until this matter is
resolved.
Those bonds are listed
as follows:
Original Current
_ Tract
Bond
Ref Surety Co.
Tyke
_. _ ._. Amount Amount
3963 -1
930570 S
49 -4 DICO
Grading
667,000 133,400
3963 -2
952994 S
49 -7 DICO
Grading
456,000 45,600
3963 -2
954658 S
49 -8 DICO
Grading
304,000 30,400
3963 -3
960581 S
49 -13 DICO
Grading
152,000 15,200
ex.n1S
Bonds: Griffin Homes
February 1994
Page 2
C. Completed Improvements
The remainder of the public improvements within the Tract 3963-
1, -2 & -3 have been completed. It is now appropriate to accept
these improvements and exonerate all of the bonds posted for
those tracts which do not relate to the construction of the
trails. The bonds which should be exonerated at this time are
listed as follows:
In that all of the improvments related to the bonds listed in
Section C of this report have been completed for a considerable
period of time, it is not recommended that the bonds be reduced
to a ten percent (10 %) maintenance bond to be held an additional
year. It is recommended that the bonds in queston be
exonerated.
RECOMMENDED ACTION
Authorize the City Clerk to exonerate the bonds listed in Section
C of this report.
exon1 5
Original
Current
Tract
Bond
Ref
Surety Co.
lypg_ _._
Amount
Amount
3963 -1
935626
S
49 -10
DICO
Mooei Complex,
401000
40,000
3963 -1
938374
S
21 -1
DICO
Traffic Signal
75,000
75,000
Mitigat,on
3963 -1
938602
S
21 -2
DICO
L;-rt Turn Lane
50,000
50,000
3963 -1
935262
S
49 -2
DICO
Monument
90,000
10,000
3963 -1
935263
S
49 -3
DICO
Performance
670,000
134,000
Raiment
3963 -1
935264
S
49-5
DICO
Siorm Drains
875,000
87,500
3963 -2
954657
S
49 -6
DICO
Performance
1,043,000
208,600
P,i ment
3963 -2
954660
S
49-1
DICO
Performance
1,036,000
207,200
Paiment
3963 -2
954661
S
49 -10
DICO
Monument
87,000
10,000
3963 -2
988077
S
118 -1
DICO
Mo4ei
15,000
15,000
Conversion
3963 -3
966031
S
49 -11
DICO
Monument
42,600
10,000
3963 -3
966030
S
49 -12
DICO
Performance
812,500
162,500
Hyment
In that all of the improvments related to the bonds listed in
Section C of this report have been completed for a considerable
period of time, it is not recommended that the bonds be reduced
to a ten percent (10 %) maintenance bond to be held an additional
year. It is recommended that the bonds in queston be
exonerated.
RECOMMENDED ACTION
Authorize the City Clerk to exonerate the bonds listed in Section
C of this report.
exon1 5
°16 3- t . - Z , -3