HomeMy WebLinkAboutAGENDA REPORT 2006 0607 CC REG ITEM 10ETO:
FROM:
DATE:
MOORPARK CITY COUNCIL
AGENDA REPORT
Honorable City Council
ITEM 10- E .
City council Meeting
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Yugal K. Lail, City Engineer /Public Works Director
Prepared by Adam Burks, Assistant Engineer
May 30, 2006 (Council Meeting 06/07/06)
P�A'11
SUBJECT: Consider Surety Bond Reductions for T.R. Partners, LLC (Tract 5181)
BACKGROUND
This project, Tract 5181, is an 8 home subdivision housing development located on the
west side of Millard Street between Susan Avenue and Sarah Avenue. (Attachment 1)
DISCUSSION
The developer, T.R. Partners, LLC, has requested the reduction of the Surety Bonds for
this development on file with the City.
These Surety Bonds were used as a mechanism to guarantee the construction of the
improvements for this development. The improvements have been completed and
accepted by the City and staff recommends that the bonds be reduced to 10 %.
The following are the applicable bonds:
('. 3
PWIYICL08038IRPTI05117I08
BOND NO.
TYPE
BOND AMT.
1
#3SM05035000
Surety Bond Monuments
$6,783.43
2
#3SM05034800
Surety Bond Grading
$44,235.52
('. 3
PWIYICL08038IRPTI05117I08
Bond Reductions: T.R. Partners
June 7, 2006
Page 2
STAFF RECOMMENDATIONS
1. Authorize the City Clerk to reduce the above referenced surety bonds to 10% for
T.R. Partners, LLC —Tract 5181.
2. Authorize the City Clerk to fully exonerate the above referenced sureties for T.R.
Partners, LLC — Tract 5181, one year after this approval of the reduction of the
surety bonds and upon written confirmation from the City Engineer that no warranty
work is required.
ATTACHMENT
Attachment 1 - Vicinity Map
v- P W IYKL06038IRPT /05!17/08 �u0
BOND NO.
TYPE
BOND AMT.
3
#SU5000111
Surety Bond Performance and Payment
$194,766.71
STAFF RECOMMENDATIONS
1. Authorize the City Clerk to reduce the above referenced surety bonds to 10% for
T.R. Partners, LLC —Tract 5181.
2. Authorize the City Clerk to fully exonerate the above referenced sureties for T.R.
Partners, LLC — Tract 5181, one year after this approval of the reduction of the
surety bonds and upon written confirmation from the City Engineer that no warranty
work is required.
ATTACHMENT
Attachment 1 - Vicinity Map
v- P W IYKL06038IRPT /05!17/08 �u0
ATTACHMENT 1
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Project Site
Princeton Ave
High St. High St.
Southern Pacific RR
1st St.
Doroth Ave.
Ruth Ave.
0
2nd St. 00
2nd St.
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3rd St.
Sarah Ave.
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Y
Susan Ave.
Z
Roberts Ave.
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> N
Pie•
ov
Esther Ave.
5
P�Ae\e
as
M
Sheman Ave.
Los Angeles Ave.
Los Angeles
Ave.
(State HWY 118
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Arroyo Simi
Vicinity Map
No Scale
Tract No. 5181