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REPORT <br />To the Honorable Mayor and City Council <br />From the City Manager <br /> <br />November 9, 2015 <br /> <br />SUBJECT <br />Final map, improvement agreement, landscape maintenance agreement, stormwater <br />treatment measures management agreement, shared parking covenant, and hold <br />harmless agreement for the development at 550 Allerton Street <br /> <br />RECOMMENDATION <br />1. By motion, approve the Parcel Map for lot merger at 550 Allerton Street. <br />2. By motion, approve and authorize the City Manager to execute an Improvement <br />Agreement with Premia South County, LLC. <br />3. By motion, approve and authorize the City Manager to execute a Landscape <br />Maintenance Agreement with Premia South County, LLC. <br />4. By motion, approve and authorize the City Manager to execute a Stormwater <br />Treatment Measures Maintenance Agreement with Premia South County, LLC. <br />5. By motion, approve and authorize the City Manager to execute a Shared Parking <br />Covenant with Premia South County, LLC. <br />6. By motion, approve and authorize the City Manager to execute a Hold Harmless <br />Agreement with Premia South County, LLC. <br /> <br />BACKGROUND <br />The project is a 6-story, 69,846 sq. ft. office building with two levels of underground <br />parking. On June 10, 2015, the Subdivision Committee approved the Tentative Parcel <br />Map. The Zoning Administrator approved the Downtown Planned Community <br />Application shortly thereafter. The site formerly housed a private surface parking lot. <br /> <br />ANALYSIS <br />The developer’s engineer completed the parcel map, improvement plans, and <br />specifications compliant with the Subdivision Map Act, Redwood City Ordinances, City <br />Standards, and to the satisfaction of the City Engineer. The parcel map merges two <br />existing parcels into one lot. Improvements include new sewer, storm and water <br />services, new storm drain mains, sidewalk modifications per Downtown Precise Plan <br />standards, trees, and street lighting. <br /> <br />The developer, Premia South County, LLC, will post bonds in the amount of <br />$497,283.00 as required by the Improvement Agreement. The developer anticipates <br />completion of all improvements by 2017. All work associated with this project is being <br />paid for by the developer. <br />6.1.B. - Page 1