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7.2.A. - Page 1 <br /> REPORT <br /> To the Honorable Mayor and City Council <br /> From the City Manager <br /> May 18, 2015 <br /> SUBJECT <br /> Final Acceptance — Improvements at Bair Island Road Phase II <br /> RECOMMENDATION <br /> By motion, accept the construction improvements at Bair Island Road Phase II and <br /> release bonds in accordance with the Improvement Agreement. <br /> BACKGROUND <br /> RC Peninsula Park, LLC is the Owner of Record of said real properties located at 650 <br /> through 660 Bair Island Road, Redwood City, California. <br /> On June 7, 2004, the City Council approved the Precise Plan for the Marina Shores <br /> Village Subdivision. The subdivision, located at East Bayshore Road and Bair Island <br /> Road, has been subdivided by a series of Subdivision and Condominium Maps. On <br /> December 17, 2007 City Council approved the Development Agreement and Precise <br /> Plan for the Peninsula Park development project. At the time the developer, R.C. <br /> Peninsula Park, LLC, intended to construct 796 multi-family residential units, 10,000 <br /> square feet of retail space, and a 200 room hotel. <br /> On July 20, 2010, R.C. Peninsula Park LLC presented a revised project to the Planning <br /> Commission, reducing the size of the residential development to 231 units, 10,000 <br /> square feet of retail, and a 200 room hotel. The reduction of residential units required a <br /> revision to the development agreement and on September 13, 2010, Amendment No. 1 <br /> of the Development Agreement with R.0 Peninsula Park, LLC was approved by the City <br /> Council. The condominium project is currently in its final phase of construction. <br /> ANALYSIS <br /> The Development Agreement required the developer to make street and other related <br /> improvements including grading, drainage, paving, domestic water, recycled water, <br /> sewer, landscaping and sidewalk improvements. These improvements support the new <br /> 231 unit project, as well as future projects that may be developed later on Bair Island <br /> Road. Bair Island Road improvements were divided into two phases. Phase I of the <br /> improvements were completed in late 2011 and accepted by City Council on February <br /> 17, 2012. The developer has now completed the construction of Phase II improvements <br />