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HomeMy WebLinkAboutAGENDA REPORT 1994 1102 CC REG ITEM 08D17.x. q, (73) ITENf�� ,- AGENDA REPORT CITY OF MOORPARK TO: THE HONORABLE CITY COUNCIL py FROM: DIRK LOVETT, ASSISTANT CITY ENGINEER DATE: OCTOBER 21, 1994 (CC MEETING OF NOVEMBER 2, 1994) SUBJECT: CONSIDER REQUEST FOR THE EXONERATION AND /OR REDUCTION OF BONDS FOR IMPROVEMENTS IN THE FOLLOWING TRACTS IN PC -3: 4338; 4340; 4340 -1; 4340 -2; 4340 -4; 4340 -5; 4340 -6; 4341 -1; 4341 -2; 4342 -1; 4342 -4; 4342 -5; and 4342 -6. DISCUSSI A. Request for Bond Exoneration The City is in receipt of a request from California Community Builders (Formerly Urban West Communities) for the exoneration and /or reduction of a number of bonds for improvements in a number of Tracts within PC -3. The City Engineer has reviewed that request and, based on the status of the improvements guaranteed by those bonds recommends the action notF,d : -low. .._;ent Status 1'y rye Biid k SSLjrC' ' ':Y 4338 h TrafI i(1 4111:i..':4;;n;. A:-ieri:'u: 4 igri Yr (?CO 4'4t Grading a :...,.... ";9"4 A:nvc'. .. 34 u 1 Mr) nune >n, A 1: 1+" 4 V 1 9' Ar.,7 i i• al Street- 8 i .ne•ri'.a S...:rm .n i n 4340 -4 Street & 01 1 1 19:;9Urt i:, Ame: ;:.: i'_: Storm Drain 434t. -f: Street & 5::.,:iE49: ";: An o ic' I'.. Storm Draiu 4 i40 5 St.reet & 4 1 : i ;..1;49; Storm Crai;: 434' -= St reef S, ?1_ i ; 2 6450' +3 Arne r'. c :I,t, Storm Dra i.. - 5341 -2 S t(-et 649(1 t'`. Ar:Pr 10.111 .._ Storm Di a'..r: 4341 -4 Mcnunw -ttc 41 1 1 .._;ent Status Recommended Action Reduced Amount (S) 19t.')0" Roci.tC' to 1C% $39,6CC For 1 Yr (?CO Reduc,-- tc 25% 5:48,750 r =OC Rcduce Lo 50? S-1 ,30, . 1 , BUI. Reduce 2S% ­-°,450 :0 Reduce- Lc 50% ,C. 3, i' o . t,o, 300 Reduce- ... '30e $8C, 40C G0 Reduce . t -c SOo ;5 40C $`44, ,:0 Reduce Lc, 50% $274,85C I j,60' RE -dJCe tG 25% $1`,,900 S: 50% $16,300 00(21 Page 2 Bond Exoneration November 2, 1994 Tract "'VI)e cone # sureLv or.: anv • 4342 -1 St r.eet 4 #1 1 :3254(.;045 Amer ic,tr. 1: C SLortn Drain 4342 -4 Street #11.132648905 Americr,r: l: C1.1 Storm Drain 4342 -5 Street. & #11132649051 Americc<n C .°StGrii Drain 4342 -6 Monumc -r :L 4111 -,2549127 America(. '. .'urrenL Recommended Reduced Status Action Amount (S) 557,600 Reduce to 25% $138,150 `_4) 1,700 Reduce to 50% $215,850 f17e,800 Reduce to 50% $89,400 ;`.'0,:00 Reduce to 50% $10,050 RECOMMENDATION: Staff recommends that the City Council authorize the City Clerk to exonerate and /or reduce certain bonds set forth in this report. CC: City Manager; Deputy City Manager; Department Heads BONI) EX. CCB 01. 08?