HomeMy WebLinkAboutAGENDA REPORT 1998 0819 CC REG ITEM 11KI')a,4i(r6T)
ITEM 11 • fe 0
AGENDA REPORT
CITY OF MOORPARK CITY OF yl(�ORPARK, CALIFORNIA
Ci Council Meeting
of I 'l
TO: THE HONORABLE CITY COUNCIL A,26 d �� VP t
FROM: DIRK LOVETT, ASSISTANT CITY ENGINEE AC
Prepared by: Jim Colton, Associate Engineer A
BY:
DATE: JULY 30, 1998 (CC MEETING OF AUGUST 19, 1998)
SUBJECT: CONSIDER THE REDUCTION AND EXONERATION OF SURETY
BONDS RELATED TO PEACH HILL ROAD STREET
IMPROVEMENTS AND SCHOOL SITE IMPROVEMENTS
In June 1992, in conjunction with the Mesa Verde School construction, improvement plans were
approved for street construction on the Carlsberg site. The improvement plans involved the
grading and construction of Peach Hill Road, east of Spring Road, and a portion of Science Drive
adjacent to the school site. Rough grading of Science Drive from Peach Hill Road to Tierra rejada
Road was also done to facilitate the installation of utilities to the School.
DISCUSSION
The majority of the grading and construction of the Peach Hill Road and Science Drive street
sections and drainage devices were completed in October 1994. Since that time a few issues such
as the proper vegetation of the slopes adjacent to the streets, slough wall construction, and drainage
swale construction were addressed by the developer. The developer has now satisfactorily
addressed and completed all the outstanding issues required by the City. It is therefore appropriate
to reduce or exonerate the improvement bonds as outlined in the following table:
1_.
J0A ► "' 7
Current
Recommended
Reduced
Type
Bond #
Surety Co.
Status
Action
Amount
Grading
American
(Performance)
3SM77568500
Motorists
$42,653
Exonerate
N/A
Grading
American
(Labor)
3SM77568500
Motorists
$30,430
Exonerate
N/A
Street
American
(Performance)
3SM77568600
Motorists
$86,759.20
Reduce
$10,000
Street
American
(Labor)
3SM77568600
Motorists
$43,379.60
Reduce
$5,000
Drainage
American
(Performance)
3SM77568700
Motorists
$42,653
Exonerate
N/A
American
ILDrainage
(Labor)
3SM77568700
Motorists
$21,326
Exonerate
N/A
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The street improvement bonds are being reduced rather than exonerated at this time to ensure repair
of any damage to the streets as a result of the continuing Science Drive street construction.
RECOMMENDATION:
1. Accept the street grading and drainage improvements as complete and;
2. Authorize the City Clerk to reduce the street bonds as set forth in Table 1 of this report and;
3. Authorize the City Clerk to release the reduced street bonds after the developer has
completed Science Drive and after engineering acceptance of such and;
4. Authorize the City Clerk to exonerate the grading and drainage bonds as set forth in Table 1
of this report.
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