HomeMy WebLinkAboutAGENDA REPORT 2010 0120 CC REG ITEM 10GITEM 10.G.
City Council Moeting
of
ACTION:
MOORPARK CITY COUNCIL .
AGENDA REPORT
TO: Honorable City Council
FROM: Yugal K. Lail, City Engineer /Public Works Director
DATE: December 29, 2009 (CC Meeting of 01/2012010)
SUBJECT: Consider Reduction of Improvements Performance & Payment Bond
#34BCSEU9710 for Freeway Corporate Center /Moorpark Carlsberg
Holdings LLC (Tract 5226)
BACKGROUND
Tract 5226 is a 33.04 acre Industrial Planned Development (2000 -01) located south of
the Moorpark Market Place, and bordered by Miller Parkway on the west and SR -23 on
the east as shown on Attachment 1.
DISCUSSION
The developer, Moorpark Carlsberg Holdings LLC, (Tentative Tract Map 5226) has
requested a reduction of the Improvements Performance & Payment Bond for this
development.
This Improvements Performance & Payment Bond was used as a mechanism to
guarantee the construction of the street improvements for Miller Parkway associated
with this development. The improvements guaranteed by this Improvements
Performance & Payment Bond # 34BCSEU9710 have been completed. Staff
recommends the bond to be reduced to 10 %.
The following is the applicable bond:
SURETY
TYPE
BOND
NUMBER
ORIGINAL
BOND
PRIOR
AUTHORIZED
AUTHORIZED
ACTION OF
AMT.
ACTION
01120/2010
Improvements
34BCSEU9710
$138,357.00
NONE
Reduction to
Performance &
13,835.70
Payment Bond
(10 %)
S: \Public Works \Everyone \Reports \Staff Reports\20101January\TR5226_Bond Reduction— Agenda_012010.doc 79
Honorable City Council
January 20, 2010
Page 2
FISCAL IMPACT
None.
STAFF RECOMMENDATIONS
1. Authorize the City Clerk to reduce Improvements Performance & Payment Bond
#34BCSEU9710 for Freeway Corporate Center /Moorpark Carlsberg Holdings LLC
(Tract 5226).
2. Authorize the City Clerk to fully exonerate this Bond one year after this reduction
approval and upon written confirmation form the City Engineer that no warranty work
is required.
ATTACHMENT
1 —Vicinity Map
SAPublic Works \Everyone \Reports \Staff Reports\2010\January\TR5226_Bond Reduction_Agenda_012010.doc 80
ATTACHMENT 1
MOORPARK
VICINITY MAP
N 7 S
TRACT 5226
PROJECT
SITE