HomeMy WebLinkAboutAGENDA REPORT 2008 0319 CC REG ITEM 10KCity CotlntAl Meetinc,
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ACTION:_
MOORPARK CITY COUNCIL BY:-- -
AGENDA REPORT
TO: Honorable City Council
FROM: Yugal K. Lail, City Engineer /Public Works Directo w-
DATE: February 29, 2008 (CC Meeting of 03/19108)
SUBJECT: Consider Reduction of Surety Bonds for Kylexa Enterprises, LLC
upon Parcel A of Parcel Map 5316 (CPD 2004 -02)
BACKGROUND
This project is a 1.6 -acre Commercial Planned Development (CPD 2004 -02) located on
the southeast corner of Los Angeles Avenue and Park Lane as shown on Attachment 1.
DISCUSSION
The developer, Kylexa Enterprises, LLC has requested a reduction of the surety bonds
for this development.
These surety bonds were used as a mechanism to guarantee the construction of the
grading, drainage, erosion control, and public street improvements for this development.
The improvements guaranteed by Bonds No. 5016786 and 5016787 have been
completed and accepted by the City, and staff recommends the bonds 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 are the applicable bonds:
SURETY
BOND
ORIGINAL
PRIOR
AUTHORIZED
TYPE
NUMBER
BOND AMT.
AUTHORIZED
ACTION OF
ACTION
03/19/2008
Improvements
Performance
5016786
$85,492.00
NONE
Reduce to 10%
and Payment
$8,549.20
Grading
5016787
$33,325-OOT
NONE
Reduce to 10%
$3,332.50
SAPublic Works \Everyone \Staff Reports\2008\ March\ Bond _Reduction_Kylexa_031908.doc � (1) 0 1 3 6
Honorable City Council
March 19, 2008
Page 2
FISCAL IMPACT
None.
STAFF RECOMMENDATIONS
1. Authorize the City Clerk to reduce the above referenced surety bonds for Kylexa
Enterprises, LLC.
2. Authorize the City Clerk to fully exonerate Bonds No. 5016786 and 5016787 for
Kylexa Enterprises, 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
Vicinity Map
SAPublic Works \Everyone \Staff Reports\2008 \March\ Bond _Reduction_Kylexa_031908.doc 0 0013 •;�
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ATTACHMENT 1
PALOMAR AVE
2ND ST.
a a
a
3RD ST.
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v WSSEN AVE.
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O
EVEREST AVE.
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LOS ANGELES
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d
UNIDOS AVE
m JAMES
PARK
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VILLA CAMPESINO AVE.
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MAJESTIC CT.
CPD 2004 -02
VICINITY
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