HomeMy WebLinkAboutAGENDA REPORT 1997 0115 CC REG ITEM 07JFEM 7 J:
AGENDA REPORT
CITY OF MOORPARK
TO: The Honorable City Council
FROM: Dirk Lovett, Assistant City Engineer
Prepared by Anthony Chop -r, Civil Engineer
DATE: January 3, 1996(Council Meeting January 15, 1997)
1_15
Subject: Consider Request for the Exoneration and /or Reduction
of Bonds for the Improvements in the Following Tracts
in Mountain Meadows: 434'?- 2,,4341- 1,4341, 4342, 4342 -6.
T_ 1 61 WktM
The Mountain Meadows Tracts are located west of Tierra Rejada
Road and South of the Arroyo SiT1i1 ,hannel.
The developer has completed por +log -'s Df the street, storm drain
and model conversions.
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 �)C' }. The City Engineer has
reviewed that request and, based cn the status of the
improvements guaranteed by those }_ond:,, recommends the following
actions. The attached map shows ':he . >t reet and storm drain
improvements where bonds are beinc r_e(ticed or exonerated.
000i31L
RECOMMENDATION
Approve the exoneration or reducti-)n of the above mentioned
bonds as listed in the staff repor7ri.
Utlo:Laz
Current
Orignial
Recommended
Reduced
Tract
Type Bond
Surety Co.
Status
Bond
Action
Amount
4342-6
Street & 11132649044
American
$12,360.00
$123,600.00
Exonerate
$0
Storm
Insurance Co.
4341 -1
Street & 11132649093
American
$274,850.00
$549,700.00
Reduce to 15%
S82,455.00
Storm
Insurance Co.
4340.2
Street& 11141286721
American
$11,780.00
$117,800.00
Exonerate
$0
Storm
Insurance Co.
4341
Model site 1 11 2701 2232
American
$80,000.00
$80,000.00
Reduce to 15%
$12,000.00
Conversion
Insurance Co.
4342
Model site 11127012075
American
$80.000.00
$80,000.00
Reduce to 15%
$12,000.00
Conversion
Insurance Co.
RECOMMENDATION
Approve the exoneration or reducti-)n of the above mentioned
bonds as listed in the staff repor7ri.
Utlo:Laz
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