HomeMy WebLinkAboutAGENDA REPORT 2006 0802 CC REG ITEM 10Crr I O.C.
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City Council Meeting
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MOORPARK CITY COUNCIL
AGENDA REPORT
TO: Honorable City Council
FROM: Yugal K. Lail, City Engineer /Public Works Director
Prepared by Adam Burks, Assistant Engineer
DATE: July 25, 2006 (CC Meeting 08- 02 -06)
SUBJECT: Consider Cash Deposit Refund for M & M Development Ltd, L.P.
(Campus Plaza, Parcel Map 5264)
BACKGROUND
This project is a commercial planned development located on the southwesterly corner
of Collins Drive /Campus Park Drive (Attachment 1).
DISCUSSION
M & M Development Ltd, L.P. (M & M), has requested a refund of their cash deposit for
grading and on -site improvements, check #35106819 for $179,252.60, on file with the
City. This cash deposit was used as a mechanism to guarantee the grading and
erosion control only for this development. A replacement surety bond for grading and
on -site improvements, #661117836 for $288,389.38, has been submitted to guarantee
the grading and on -site improvements for this development. The $109,136.78 difference
between the cash deposit check, #35106819 for $179,252.60, and the surety bond,
#661117836 for $288,389.38, is the additional amount needed to cover drainage and
maintenance of the best management practices.
Staff recommends that the cash deposit for grading and on -site improvements, check
#35106819 for $179,252.60, be refunded.
c:city share /public works /everyone /agenda reports /2006 /Aug /Cash Bond Refund 000281
Honorable City Council
August 2, 2006
Page 2
The following is the applicable cash deposit:
CHECK NO. TYPE DEPOSIT AMT.
35106819 Cash Deposit — Grading and $179,252.60
Improvements
STAFF RECOMMENDATION
Authorize the City Clerk to refund the cash deposit in the amount of $179,252.60 for M
& M Development Ltd, L.P. (Campus Plaza, Parcel Map 5264).
ATTACHMENT
Attachment 1 - Vicinity Map
c:city share /public works /everyone /agenda reports/2006 /Aug /Cash Bond Refund 000282
ATTACHMENT 1
VICINITY MAP
CAMPUS PLAZA,
PARCEL MAP 5264
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