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Home My WebLink AboutAGENDA REPORT 1996 0702 CC SPC ITEM 07IE!",11 • / �s I i" C!u '.1 AGENDA REPORT CITY OF MOORPARK TO: The Honorable City Council FROM: Dirk Lovett, Assistant City Engineer 9W Prepared by Anthony Cooper, Civil Engineer DATE: June 19, 1996(Council Meeting July 3, 1996) Subject: Consider Request for the Exoneration and /or Reduction of Bonds for the Improvements in the Following Tracts in Mountain Meadows: 3274, 4792, 4240, 4341, 4342, 4340 -1, 4340 -2, 4340 -3, 4340 -4, 4340 -6, 4342 -1, 4342 -2, 4342 -5, 4342 -6, 4341 -1, 4341 -2, 4341 -3, 4341 -4. The Mountain Meadows Tracts are located west of Tierra Rejada Road and South of the Arroyo Simi Channel. Portions of the monumentation, street, storm drain, landscaping, grading, traffic signal and intersection improvements have been. The City is in receipt of a request from California Community Builders (Formerly UWC- Moorpark Investors Ltd.) for the exoneration and or reduction of a number of bonds for improvements for 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 following actions. Tract IY -Q 3274 Channel Retention Basin Current Original Recommended Reduced Bond surety Co. Status Bond Action Amount 712 -4918 4792 Ph.1 136750S Landscaping American $160,000.00 $160,000 Insurance Co. American $94,128.00 $94,128 Insurance Co. 4340 Grading 32539849 American $148,750.00 $594,000 Insurance Co. Exonerate $0 Exonerate $0 Reduce $59,400.00 to 10% los Current Original Recommended Reduced Tract IYPn Bond Surely Co. Std Bond Action Amount 4341 Grading 32539856 American $103,125.00 $412,000 Reduce $41,250.00 (5) Insurance Co. to 10% 4342 Grading 32539864 American $160,875.00 $643,350 Reduce $64,350.00 (5) Insurance Co. to 10% 4792 Grading 8481 Pac States $25,892.50 $207,140 Exonerate $0 Casualty 4340 -1 Monuments 32540193 American $33,300.00 $66,600 Exonerate $0 Insurance Co. 4340 -4 Monuments 19090816 American $32,400.00 $32,400 Exonerate $0 Insurance Co. 4341 -4 Monuments 32649143 American $16,300.00 $32,600 Exonerate $0 Insurance Co. 4342 -1 Monuments 32540227 American $40,100.00 $40,100 Exonerate $0 Insurance Co. 4342 -5 Monuments 32649135 American $16,200.00 $16,200 Exonerate $0 Insurance Co. 4342 -6 Monuments 32649127 American $20,100.00 $20,100 Exonerate $0 Insurance Co. 4792 Rec Area 8554 Pac States $25,597.50 $255,975 Exonerate $0 Casualty 4792 Model 8555 Pac States $15,000.00 $15,000 Exonerate $0 Buildout Casualty 4792 Private Storm 8510 Pac States $80,281.78 $80,281.78 Exonerate $0 Casualty 4140- Storm Drain 712 -9869 American $75,000 $75,000 Exonerate $0 1-6 Insurance Co. 4340 -1 Perform 32540250 American $277,750 $1,111,000 Reduce $111,100 (1) & Payment Insurance Co. to 10% 4340 -4 Performance 19090808 American $93,350.00 $186,700 Reduce $18,670.00 (2) & Payment Insurance Co. to 10% 4342 -1 Performance 32540045 American $138,150.0 $55,?�60® Reduce $55,260.00 (2) Insurance Co. to 10% Current Original Recommended Reduced Tract Ts" Bond Surely Co. Status Bond Action Amount 4342 -2 Performance 32540029 American $35,700.00 $35,700 Reduce $3,570.00 (2) & Payment Insurance Co. to 10% 4341 -2 Sewer 27011994 American $6,000 $6,000 Exonerate $0 & Water Insurance Co. 4340 -6 Street 32649119 American $51,400.00 $102,800 Reduce $25,700.00 (3) & Storm Insurance Co. to 25% 4341 -1 Street 32649093 American $274,850.00 $549,000 Reduce $137,425.00 (4) & Storm Insurance Co. to 25% 4341 -2 Street 32649085 American $15,900.00 $63,600 Reduce $6,360.00 (2) & Storm Insurance Co. to 10% 4341 -3 Street 32649077 American $3,135.00 $20,900 Reduce $2,090.00 (2) & Storm Insurance Co. to 10% 4341 -4 Street 32649069 American $32,320.00 $323,200 Retain $32,320.00 (2) & Storm Insurance Co. 10% 4342 -6 Street 32649044 American $12,360.00 $123,600 Retain $12,360.00 (2) & Storm Insurance Co. 10% 4340, Traffic 32540052 American $720,000 $720,000 Exonerate $0 41,42 Signal Insurance Co. 4342 -5 Street 32649051 American $89,400.00 $178,800 Reduce $17,880.00 (2) & Storm Insurance Co. to 10% (1) 10% to be withheld until street light repair, and restriping is done and epoxy patching has been accepted. (2) 10% was withheld until epoxy patching has been accepted. (3) Final overlay and sidewalk remains to be done. (4) Final overlay remains to be done. (5) Minor grading still remains to be done. RECOMMENDATION• Approve the exoneration or reduction of the above mentioned bonds as listed in the staff report.