HomeMy WebLinkAboutAGENDA REPORT 1994 0817 CC REG ITEM 08CITEM �I C•
AGENDA REPORT
CITY OF MOORPARK
TO: THE HONORABLE CITY COUNCIL
FROM: DIRK LOVETT, ASSISTANT CITY ENGINEERC�-Z
DATE: AUGUST 5, 1994 (CC MEETING OF AUGUST 17, 1994)
SUBJECT: REQUEST FOR RELEASE OF IMPROVEMENT SECURITIES FOR
TRACT 4789 (WEST AMERICA CORPORATION)
BACKGROUND:
Tract 4789 is located directly north of Hertz street in the City of
Moorpark. A location map is attached for your reference.
Staff received a letter requesting release of the improvement
securities for the subdivision. A copy of this request has been
attached.
Installation of all grading, streets, drainage improvements and
monuments for the project have been completed. All conditions for
the reduction of the security have been met.
It is standard practice to release onsite performance securities
once the improvements are completed. Public improvement bonds are
normally held for a one year guarantee period to assure the work is
of a durable nature.
It is therefore appropriate to exonerate the onsite grading and
monument bond at this time while reducing the public street
improvement bond from $111,674 f -.o $11,167 (100 of the original
amount).
A re -cap of the securities being released and reduced are shown
below:
Current Recommended Reduced
Type Bond # Surety Company Status Action Amount (S)
Grading #MC 1049 Topa Insurance >12,243 exonerate --
Monuments #MC 1050 Topa Insurance 3 4,067 exonerate --
Streets #MC 1053 Topa Insurance j111,674 reduce $11,167
Coun ^il Meet;rg
of 199 y
A
BY.
RECOMMENDATION:
1. Accept the improvements for Tract 4789 as complete;
2. Authorize the City Clerk to exonerate the aforementioned
Grading and Monument bonds;
3. Authorize the City Clerk to reduce the Street Improvement bond
to $11,167.
CC: City Manager; Deputy City Manager; Department Heads
Kavlico Bond EX West America
29
Builders and Land Developers --
WEST AMERICA CONSTRUCTION CORP.
8929 WILSHIRE BLVD.. SUITE 400 • BEVERLY HILL5, CA.90211
x.310) 652 -8268 CONTRACTORS LICENSE 98605
April—
City of Moorpark
111A Poindexter Ave.
Moorpark, CA 93021
Attention: Chris Oberender
Re: Request for Exoneration of offsite Improvement Bonds
for Tract 4789
Dear Chris:
Now that the offsite public improvements for Tract 4789 have
been completed and accepted by the City of Moorpark, I am
requesting that the City of Moorpark exonerate the following
outstanding bonds:
Bond_#
Description
Bond Amount
1) 1049
Grading
$12,243.00
2) 1050
Monuments
$ 4,067.00
3) 1053
Performance &
$111,674.00
Payment
I have included copies of the bonds for your reference.
Should you have any questions or need any additional information,
please contact me or Kurt Mayer.
Thank you for your assistance regarding this matter.
Very truly yours,
Moorpark West
Nicholas M. Brown
general partner
Enclosures
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LOCATION MAP
LP.D. NO.
90 -13
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A VE.
TRACT NO.
4789
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