HomeMy WebLinkAboutAGENDA REPORT 2009 0121 CC REG ITEM 10Er,, r.EM 10•E.
City Council Fleeting
of 4
ACTION:
A �I
MOORPARK CITY COUNCIL
BY:
AGENDA REPORT
TO: Honorable City Council
FROM: Yugal K. Lall, City Engineer /Public Works Director
DATE: January 6, 2009 (CC Meeting of 01/21/09)
SUBJECT: Consider Reduction of Surety Bond for Fitch Moorpark LLC for
Parcel 2 of Parcel Map 5567 (Creative Woodworks, IPD 2005 -01)
BACKGROUND
Creative Woodworks is an Industrial Planned Development (IPD 2005 -01) over Parcel 2
of Parcel Map 5567 located at 621 Fitch Avenue as shown on Attachment 1.
DISCUSSION
The developer, Fitch Moorpark LLC, has requested a reduction of the surety bond for
this development.
This surety bond was used as a mechanism to guarantee the construction of the
grading, on -site improvements, and erosion control for this development. The
improvements guaranteed by Grading and Improvements Bond No. 727084S have
been completed and accepted by the City, and staff recommends for the bond to be
reduced to 10% and fully exonerated one year after approval of this reduction with
written confirmation from the City Engineer that no warranty work is required.
The following is the applicable bond:
SURETY
TYPE
BOND
NUMBER
ORIGINAL
BOND AMT.
PRIOR
AUTHORIZED
AUTHORIZED
ACTION OF
01/21/2009
ACTION
Grading and
Improvements
727084S
$141,787.95
None
Reduce to 10%
$14,178.80
SAPublic Works \Everyone \Reports \Staff Reports\2009\ January\CreativeWoodworks_Reduction Agenda_012109.doc 0%'00038
Honorable City Council
January 21, 2009
Page 2
FISCAL IMPACT
None.
STAFF RECOMMENDATIONS
1. Authorize the City Clerk to reduce Bond No. 727084S to 10% for Fitch Moorpark
LLC.
2. Authorize the City Clerk to fully exonerate Bond No. 727084S for Fitch Moorpark
LLC one year after this approval of the reduction of the surety bond and upon written
confirmation from the City Engineer that no warranty work is required.
ATTACHMENT
1 —Vicinity Map
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VICINITY MAP-
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ATTACHMENT 1
SPT
PROJECT SITE
CREATIVE WOODWORKS
621 FITCH AVENUE
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