HomeMy WebLinkAboutAGENDA REPORT 1996 0501 CC REG ITEM 07JAGENDA REPORT
CITY OF MOORPARK
TO: The Honorable City Council
FROM: Lillian E. Hare, City Clerk
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DATE: April 23, 1996(CC Meeting of 5/1/96)
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SUBJECT: CONSIDER BOND EXONERATION FOR MOORPARK LE CLUB, LTD.
(G.H. PALMER) -- LABOR & MATERIAL BOND FOR CONSTRUCTION OF
ARROYO SIMI PEDESTRIAN BRIDGE
One of the Conditions of Approval of PD -1010 required the developer (G. H. Palmer Associates)
to construct a pedestrian bridge across the Arroyo Simi at Liberty Bell Road to serve the Arroyo
Vista Community Park.
The obligation to construct the bridge was clarified in a Settlement Agreement dated May 1987.
A Public Works - Labor & Material Bond in the amount of $300,000 was provided to the City on
June 7, 1989 as surety for construction of the bridge.
In response to a request from the developer, further clarification of mutual obligations associated
with this matter were set forth in an Implementation and Release Agreement dated October 5,
1992. Earlier this year, Palmer requested exoneration of Bond 1173194; it has now been
deemed appropriate to release the bond.
BOND NUMBER
TYPE
AMOUNT
RECOMMENDED
ACTION
1173194
Public Works - Labor
$300,000
Exonerate
& Material
Staff Recommendation:
Direct the City Clerk to exonerate the bond.
C:\wpwin\lh\reports\palmer
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