HomeMy WebLinkAboutAGENDA REPORT 1997 0820 CC REG ITEM 10Q19 A - 1-11 ( xx'7 � )
ITEM.��
Agenda Report
To: The Honorable City Council CITY OF MOORPARK, CALIFORNIA City Co cil Meeting
From: Dirk Lovett, Assistant City Engineer of 2 C% !992—
ACTION:
Date: August 5, 1997 (City Council Meeting of August 20, 1997)
Subject: Loyola Street Slope Repair Surety Exoneration BY: � � . L- 4,
Background
The Varsity Park Homeowners Association (HOA) has submitted plans and received City approval
to repair a slope failure behind 14665 -14761 Loyola Street (intersection of Loyola Street and
Loyola Place). The plan includes overexcavation and recompaction of 2500 cubic yards of soil,
installation of a drain and geo- fabric system, and landscaping at the failed area. It is estimated that
the construction costs of these improvements will be $65,000. No construction schedule has been
provided to City staff but it is the HOA's intent to have the repairs completed before the next rainy
season.
It is the City's standard policy to obtain a performance surety for 100% of work to be done on
private property. This surety is to ensure that construction is completed per the approved plans if
either the contractor or property owner fail to complete the work after it has begun. The HOA has
chosen to provide the surety, rather than the contractor, and has prepared a contract which ties the
final payment to the contractor into the City's acceptance of the improvements and subsequent
release of the surety.
Discussion
All such sureties have historically been submitted to the City Council for exoneration upon staff's
final inspection and recommendation. Due to the time lag from completion of the work until
submission to and approval from the City Council, the HOA is concerned that the contractor may
not get paid within the standard 30 days from their receipt of the contractor's final invoice.
The HOA intends to submit separate letters of credit for the grading construction ($50,000) and
landscaping ($15,000) and requests that the City Council authorize staff to exonerate the sureties
immediately upon completion of the respective work. In other words, rather than wait for an
agenda report to be prepared and submitted to the Council, the HOA requests that staff be
authorized to release the sureties upon final inspection and approval of the work.
Recommendation
Authorize the City Manager to exonerate the subject performance sureties upon satisfactory
completion of the slope repairs, as determined by the City Engineer and Director of Community
Development.
cc: chron
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