HomeMy WebLinkAboutAGENDA REPORT 1988 0601 CC REG ITEM 08G ?1a -V/60
MOORPARK ITEM
JOHN PATRICK LANE STEVEN KUENY
Mayor a,PK City Manager
ELOISE BROWN o°P °9 CHERYL J. KANE
Mayor Pro Tern f ; City Attorney
JOHN GALLOWAY PATRICK RICHARDS, A.I.C.P.
Councilmember i Director of
CLINT HARPER, Ph.D. o : Community Development
^
Councilmember °0 0 R. DENNIS DELZEIT
BERNARDO M. PEREZ Q9 Teo ��` City Engineer
Councilmember JOHN V. GILLESPIE
MAUREEN W. WALL Chief of Police
City Clerk MEMORANDUM THOMAS P. GENOVESE
City Treasurer
TO: The Honorable City Council
FROM: R. Dennis Delzeit, City Engineer le&le�c -,._ .
DATE: May 25, 1988
SUBJECT: Acceptance of Public Improvements and bond
Exonerations for Tract 3070-4 (U.S. Condo)
BACKGROUND INFORMATION
Tract 3070-4 is located in the Campus Park area of the City
of Moorpark. A vicinity map is enclosed for reference.
Tract 3070-4 was originally approved by the Ventura County
Board of Supervisors on December 12, 1978. Subsequently,
the Moorpark City Council approved and ratified the project
on November 16, 1983 .
The agreement for the construction of public improvements
required the completion of all improvements by February 15,
1985. Three time extensions have subsequently been
approved, with the most current extension requiring all
improvements by February 15, 1988.
Construction of the public improvements have been completed
to our satisfaction.
Accordingly, it is now appropriate to accept all the public
improvements and exonerate the following bonds:
TYPE AMOUNT SURETY CO. BOND NO.
Performance
and Payment $600, 000. 00 Developers Ins. Co. 106 779
Monument $ 44, 000. 00 Developers Ins. Co. 106 782
The grading bond for this tract, in the amount of
$614, 000. 00 issued by Developers Insurance Company (Bond No.
106 781) was reduced by 50% to $307, 000. 00 on October 15,
1987. The grading bond must remain in force and effect for
one year from the date of acceptance. However, the
799 Moorpark Avenue Moorpark, California 93021 (805) 529-6864
Page -2-
developer has requested the grading be reduced to 10% of its
original amount (61,400) to cover the one year guarantee
period. This request is considered reasonable.
RECOMMENDED ACTION
- Accept the public improvements within Tract 3070-4.
- Include all streets in the City Street system for
maintenance.
- Authorize the City Clerk to exonerate the above
mentioned performance and payment bonds and monument
bonds.
- Authorize the City Clerk to reduce the above mentioned
grading bond from $307,000 to $61,400, with this bond
then exonerating one year from the date of acceptance
of improvements.
- Authorize the City clerk to return the $500 emergency
deposit to the developer.
MOORPAR K, CALIFORNIA
City Cour;til Pleating
of 198
ACTION
BY I'a
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Encl.
cc: Steve Kueny, City Manager
John F. Knipe, Assistant City Engineer
Phil Vein, U.S. Condo
Earl Ledbetter, Sr. District Analyst
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