HomeMy WebLinkAbout10 - Release of Surety for Off-Site Public ImprovementCITY OF NEWPORT BEACH
CITY COUNCIL STAFF REPORT
Agenda Item No. 10
June 12, 2007
TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: Public Works Department
Fong Tse
949 - 644 -3324 or ftse @city.newport - beach.ca.us
SUBJECT: RELEASE OF SURETY FOR OFF -SITE PUBLIC IMPROVEMENTS
COMPLETED ON ORANGE AVENUE FROM OLD NEWPORT
BOULEVARD TO CLAY STREET
OWNER: MC OLD NEWPORT ROAD, LLC
RECOMMENDATIONS:
1. Accept the off -site public improvements constructed as conditioned for the vacation
and abandonment of a portion of the Orange Avenue public right -of -way from Old
Newport Boulevard to Clay Street.
2. Authorize the City Clerk to release Faithful Performance Bond No. 838037 -S in the
amount of $65,000.00 for the public improvements constructed along Orange
Avenue.
3. Authorize the City Clerk to release Labor and Material Bond No. 838037 -S in the
amount of $65,000.00 for the public improvements constructed along Orange
Avenue, provided no claims have been filed.
DISCUSSION:
On March 23, 2004, the City Council conditionally approved the vacation and
abandonment of the southerly portion of the Orange Avenue public right -of -way from
Old Newport Boulevard to Clay Street to facilitate the construction of a new medical
office building owned by MC Old Newport Road, LLC (Owner) at 494/496 Old Newport
Boulevard. Said Vacation required Owner to construct new sidewalk, curb and gutter,
curb access ramps, storm drain, and roadway improvements along the length of the
Vacation limits.
On May 22, 2005, the City Council accepted a Faithful Performance Bond and a Labor
and Materials Bond (Nos. 838037 -S), in the amount of $65,000.00 each for the required
off -site public improvements. The off -site public improvements required of Owner have
been inspected and are satisfactory for acceptance. Owner submitted the attached
letter requesting the release of the Bonds.
Release of Surety for Off -Site Public Improvements Completed on Orange Avenue from Old Newport Boulevard to Clay Street
June 12, 2007
Page 2
ENVIRONMENTAL REVIEW
Provisions of CEQA are not applicable.
Prepared. by: Submitted
FO l / �8uWfc�h or Badum
Pri Ipal Civil Engineer l� _/ Puk�{(c Works Director
Attachments: Surety Release Request Letter from MC Old Newport Road, LLC
Vacation Exhibit
MC Old Newport Road, LLC
500 Superior Avenue #120
Newport Beach, CA 92663
May 9, 2007
Public Works Department
PO Box 1768
Newport Beach, CA 92658
Dear Sir or Madam:
RECEIV'1117"D
MAY 1 4 2007
U of �e se'-1,011
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I am a 50% owner of both MC Old Newport, LLC and Mariners Capital, Inc. along with
M. James Mathisrud, who owns the other 50% of both companies. I am writing on behalf
of MC Old Newport Road, LLC to request that the City Council release the City of
Newport Beach Subdivision Faithful Perfonnance Bond, No. 838037 -5 held by the City
on 494/496 Old Newport Road. This project was completed in December, 2006. In
preparing this request, we notice that the bond contains a clerical error— listing the name
of the company as MC Old Newport, LLC. The correct name is MC Old Newport Road,
LLC. If you have any questions or require any additional information, please contact me
at 949.999.4112. Thank you for your assistance in this matter.
Regards,
Steven E. Olson
Owner
MC Old Newport Road, LLC
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LEGEND: AVENUE
®PROPOSED 10' WIDE
VACATION AND
ABANDONMENT
vpAeNk LOCATION MAP
Orange Avenue
• N Street Right -of -Way Vacation
NOT TO SCALE