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7.1.B. - Page 1 <br /> REPORT <br /> To the Honorable Mayor and City Council <br /> From the City Manager <br /> May 4, 2015 <br /> SUBJECT <br /> Parcel map and associated agreements for the development at 1050 Broadway by <br /> SunCap Redwood, LLC <br /> RECOMMENDATION <br /> 1. By motion, approve Parcel Map No. 2013-04 <br /> 2. By motion, approve and authorize the City Manager to execute an Improvement <br /> Agreement with SunCap Redwood, LLC <br /> 3. By motion, approve and authorize the City Manager to execute a Landscape <br /> Maintenance Agreement with SunCap Redwood, LLC <br /> 4. By motion, approve and authorize the City Manager to execute a Stormwater <br /> Treatment Measures Maintenance Agreement with SunCap Redwood, LLC <br /> BACKGROUND <br /> SunCap Redwood, LLC is the Owner of Record of real property located at 1050 <br /> Broadway, and is the developer responsible for the construction of all improvements on <br /> the site. The site is being developed by SunCap Redwood, LLC on behalf of 24 Hour <br /> Fitness. The project will merge three (3) contiguous parcels into one lot and create a <br /> two story 47,152 square feet health club with 272 on-site surface parking stalls. On May <br /> 7, 2013 the Planning Commission approved the application for tentative parcel map, <br /> use permit, architectural permit and sign permit. The project site was formerly vacant <br /> with a two story, 66,478 square feet industrial building. The developer anticipates <br /> completion of all improvements in mid-2015. <br /> ANALYSIS <br /> The Owners' engineer has completed the parcel map, improvement plans, and <br /> specifications in accordance with the Subdivision Map Act, Redwood City Ordinances, <br /> City Standards, and to the satisfaction of the City Engineer. Improvements include new <br /> sidewalk, sanitary sewer and water utilities to serve the site. <br /> The developer, SunCap Redwood, LLC, has posted bonds in the amount of <br /> $135,664.00 as required by the improvement agreement. The developer anticipates <br /> completion of all improvements in mid-2015. All work associated with this project is <br /> being paid for by the developer. <br /> Page 1 of 2 <br />