HomeMy WebLinkAboutAGENDA REPORT 1995 0215 CC REG ITEM 08HM *do A(*. -
AGENDA REPORT
CITY OF MOORPARK MOrnn�, C
TO: THE HONORABLE CITY COUNCIL 0 e; 199
ACTION:
FROM: DIRK LOVETT, ASSISTANT CITY ENGINEER
PREPARED BY ALAN COLLETT, ASSOCIATE ENGIN gy
DATE: February 3, 1995 (CC MEETING OF FEBRUARY 15,
SUBJECT: EXONERATION OF THE IMPROVEMENT BONDS FOR MAIL
MARKETING
The Mail Marketing Site is located at the cul -de -sac of Science
Drive, 701 and 709 Science Drive.
The grading, storm drain, street improvements, and monumentation have
been completed in accordance with the approved plans. All related
items for the project have been completed. Attached is a letter from
the developer requesting the release of the improvement bonds. All
conditions for the release of the securities have been met.
DISCUSSION•
It is appropriate to accept the improvements covered by the Drainage
performance bond, #B2369499 and the street performance and labor and
material bond, #B2369498 and reduce the bonds to 10% for a one year
maintenance period. In addition, it is appropriate to accept the
improvements covered by the monumentation bond, #B2369500 and grading
performance bond, #B2369497 and exonerate the bonds.,
A recap of the status of all t:onds for this project and the
recommended action is as follows:
1. Accept the improvements for Mai.1 Marketing as complete.
2. Authorize the City Clerk to exonerate and /or reduce the bonds set
forth in this report.
CC: City Manager; Deputy City Manager; Department Heads
BOND EX #B2369497, #B2369499, #B2369498, & #B2369500
00062
Current
Recommended
Reduced
Item
Type
Bond #
Status
Action
Amount ($)
A
Grading.
#B2369497
$328,812
xonerate
--
B
St. Drain
#82369499
$272,650.4)
Redu-e to 10% for
$27,265.04
a - r. period
C
Street
#B2369498
$54,278.4)
Redice to 10% for
$5,427.84
a -r. period
D
Monuments
#B2369500
$577.53
xonerate
--
RECOMMENDATION:
1. Accept the improvements for Mai.1 Marketing as complete.
2. Authorize the City Clerk to exonerate and /or reduce the bonds set
forth in this report.
CC: City Manager; Deputy City Manager; Department Heads
BOND EX #B2369497, #B2369499, #B2369498, & #B2369500
00062
January 4, 1995
The Voit Companies
1641 Fiske Place Mr. Dirk Lovett, P.E.
Oxnard, California Assistant City Engineer
93033 City of Moorpark
TEL 805. 487.2280 18 High Street
F.4a 805.487.8731 Moorpark, CA 93021
Asset 'Management
Property Management
Development
Brokerage
Construction
Utt c, 0,r -hn S-, h— (:A,h —ra
,nd S,............
Re: Mail Marketing Corporation
700 & 709 Science Drive
Moorpark, California
Dear mirk:
In November 1994, the above referenced project was
completed. We respectfully request the City's exoneration
of the following bonds:
Grading Performance Bona
Bond No. B2369497
$328,812.00
Drainage Performance Bond
Bond No. B2369499
$272,650.40
Street Performance Bond & Labor & Material Bond
Bond No. B2369498
$54,278.40
Monumentation Performance Bond
Bond No. B2369500
$577.53
It is my understanding that the City Council must approve
the exoneration of these bonds. Please let me know the
earliest possible date that we can be scheduled to appear
before them. Thank you
Sincerely,
Voit Mismagement Company, L.P.
i
R be t G. Lumley
Vice President
cc: Blanca Banuelos, G &S
Phil Saide, OCCO
00063