HomeMy WebLinkAboutAGENDA REPORT 1998 0819 CC REG ITEM 11HITEM 11 • n•
AGENDA REPORT CITY OF MOORPARK, CALIFORNIA
CITY OF MOORPARK City Council Meeting
of 1 �
TO: THE HONORABLE CITY COUNCIL ACTION +.�. --p
prove
FROM: DIRK LOVETT, ASSISTANT CITY ENGINEER
Prepared by: David Grantham, Assistant Engine,. F i 6 .
DATE: JULY 20, 1998 (CC MEETING OF AUGUST 19, 1998)
SUBJECT: CONSIDER THE ACCEPTANCE OF IMPROVEMENTS AND BOND
REDUCTION FOR TRACT 4174 - COLMER DEVELOPMENT
BACKGROUND
Tract 4174 is a nine unit residential development located off Pecan Avenue near Campus Park
Drive. A vicinity map is attached for your reference (see Exhibit A). Site development included
grading, storm drainage devices and the construction of one cul -de -sac street, Alyssas Court.
The Final Map, subdivision agreement and surety bonds were submitted to and approved by the
City Council on October 16, 1996.
DISCUSSION
Construction and installation of all grading, drainage devices, streets and survey monumentation
have been completed in accordance with the approved plans and are in satisfactory condition at this
time. The developer is now requesting the release of the bonds. All conditions for the reduction of
the bonds are complete and therefore it is appropriate to reduce or exonerate them as outlined in the
following table:
01,41 (A54)
(1;.41
ga.I-i (AS a)
► ,)a•y1(AsE1)
. ort. t r . _•. ;6
Current
Recommended
Reduced
Type
Bond #
Surety Co.
Status
Action
Amount
Grading
Developers
(Performance)
423328S
Insurance Co.
$20,697
Exonerate
N/A
Street
Developers
(Performance)
423329S
Insurance Co.
$63,703
Reduce to 10%
$6,370
Street
Developers
(Payment)
423329S
Insurance Co.
$63,703
Reduce to 10%
$6,370
Drainage
Developers
(Performance)
423330S
Insurance Co.
$10,331
Reduce to 10%
$1,033
Drainage
Developers
(Payment)
423330S
Insurance Co.
$10,331
Reduce to 10%
$1,033
Developers
Monumentation
423331S
Insurance Co.
$5,268
Exonerate
N/A
01,41 (A54)
(1;.41
ga.I-i (AS a)
► ,)a•y1(AsE1)
. ort. t r . _•. ;6
The grading and monumentation is complete and can be exonerated at this time. It is the City's
policy to reduce public improvement bonds to 10% for a one year maintenance period and then
exonerate pending satisfactory condition of the improvements.
RECOMMENDATION:
1. Accept the improvements as complete.
2. Authorize the City Clerk to exonerate the Grading and Monumentation bonds.
3. Authorize the City Clerk to reduce the street and drainage bonds to 10% for a one year
maintenance period, subject to the Engineering Department's final approval at that tune.
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VICINITY MAP
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