HomeMy WebLinkAboutAGENDA REPORT 1990 0919 CC REG ITEM 08E� MOORPARK rreM gE'
BERNARDO M.PEREZ
Mayor
SCOTT MONTGOMERY
Mayor Pro Tem
ELOISE BROWN
Councilmember
CLINT HARPER, Ph.D.
Councilmember
PAUL W. LAWRASON, Jr.
Councilmember
LILLIAN KELLERMAN
City Clerk
MEMORANDUM
TO: The Honorable City Council j
FROM: John F. Knipe, City Engineer
DATE: September 12, 1990 j
SUBJECT: TRACT 3963- 1, -2, -3 (GRIFFIN HOMES)
REDUCTION OF BOND AMOUNTS
BACKGROUND INFORMATION
STEVEN KUENY
City Manager
CHERYL J.KANE
City Attorney
PATRICK RICHARDS, A.I.C.P.
Director of
Community Development
R. DENNIS DELZEIT
City Engineer
JOHN V. GILLESPIE
Chief of Police
RICHARD T. HARE
City Treasurer
MOOWAW- CALFORNA
city Meetng
of 199.0
The subject tract is located in the Moorpark College area (a location map is
attached).
The tentative map was approved by Planning Commission on October 16, 1985 and was
subsequently approved by the City Council on February 18, 1986.
The conditions of development have been satisfied and the construction punch list
has been substantially completed. It is new appropriate to reduce the following
bonds as shown:
Tract 3963 -1
TYPE
Monument
Street Perf.
& Payment
Grading
Storm Drain
Perf. & Payment
SURETY CO.
Developers Insurance
Company
Developers Insurance
Company
Developers Insurance
Company
Developers Insurance
Company
ORIGINAL REDUCED
_ BOND NO__ AMOUNT AMOUNT
935262S $ 90,000 $ 10,000
935263S $670,000 $134,000
930570S $667,000 $133,400
935264S $875,000 $ 87,500
799 Moorpark Avenue Moorpark, California 93021 (805) 529 -6864
Page -2-
Tract 3963 -2
TYPE
SURETY
CO.
BOND N0.
ORIGINAL
AMOUNT
REDUCED
AMOUNT
Monument
Monument
Developers
Insurance
954661S
$ 87,000
$ 10,000
Company
Company
Perf. & Payment
Street Perf.
& Payment
Developers
Company
Insurance
954660S
$1,036,000
$207,200
Storm Drain
Perf. & Payment
Developers
Company
Insurance
954657S
$1,043,000
$208,600
Grading
Developers
Insurance
954658S
$ 304,000
$ 30,400
Company
Company
Grading
Developers
Insurance
952994S
$ 456,000
$ 45,600
Company
Tract 3963 -3
TYPE
SURETY
CO.
BOND NO.
ORIGINAL
REDUCED
AMOUNT
Monument
Developers
Insurance
966031S
$ 42,600
$ 10,000
Company
Perf. & Payment
Developers
Insurance
966030S
$ 812,500
$162,500
Company
Grading
Developers
Insurance
960581S
$ 152,000
$ 15,200
Company
Please note that the monument bonds will be exonerated at the time of project
acceptance. The performance and payment bonds for street and storm drain
improvements and the grading bonds will be exonerated one year after project
acceptance.
RECOMMENDED ACTION
Authorize the City Clerk to reduce the bonds shown above to the specified
amounts.
Copy: Steve Kueny, City Manager
Patrick Richards, Director of Community Development
Patrick Dobbins, Assistant City Engineer
Ken Taylor, Design Engineer
JFK:KT:sf
10161/3003
10161/3005
10161/3006
IM0279.COU
LOCATION MAP
TRACT N0. 3963
VICINITY MAP
SCALE : 1" R 1000'