HomeMy WebLinkAboutAGENDA REPORT 1996 0501 CC REG ITEM 07EITEM7'b
CITY OF MOORPARK
AGENDA REPORT of
TO: The Honorable City Council ACTION4 C"l
FROM: Christine Adams, Director of Community Services;_�
DATE: April 18, 1996 (Meeting of May 1, 1996)
SUBJECT: Consider Exoneration of Grad incr. Dra inacre and Park
Improvement Bonds Held by California Community Builders
for Country Trail Park.
In December, 1995, the City Council took action to accept the
improvements for Country Trail Park. The City Council still needs
to exonerate the park improvement bond, the grading bond and the
drainage bond which are held by California Community Builders
(CCB) .
Staff has determined that the park has been built to plan and that
the developer has satisfied all requirements related to the
construction and maintenance of the park, and would recommend that
the Council exonerate the grading bond and drainage bond at this
time. Staff would recommend reducing of park improvement bond to
10% of the total bond price, to remain in force for one full year
after the Notice of Completion has been recorded.
The developer is still required to install the back ordered swing
sets and to provide the City the final as -built plans. In
addition, the park conditions required that all utilities be
stubbed in to the park. At this time, CCB has stubbed only water,
electricity and telephone service to the park. CCB has agreed to
pay the City $11,000.00 in cash, to be used by the City to install
cable television, natural gas ($2,500) and sewer lines ($8,500) to
the park, in the future, if determined necessary.
RECOMMENDATION
Authorize City Clerk to exonerate
$16,445) and bond #169695 (Park
bond #169980 (Park Improvement -
remain in full force for a period
Completion is recorded.
bond #169695
Grading - $47
$267,422.51)
(Park Drainage -
,051) and reduce
to $26,742.26 to
of one (1) year after Notice of