AgdaPkt 2017-10-23 Joint SA PFA - Laserfiche WebLink

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6.2.B. - Page 1 REPORT To the Honorable Mayor and City Council From the City Manager October 23, 2017 SUBJECT Final Acceptance - The Grove development at 50, 80, and 88 Finger Avenue RECOMMENDATION By motion, accept the construction improvements for The Grove and release bonds in accordance with the Improvement Agreement BACKGROUND On September 12, 2016, Council approved the Final Map, an associated Improvement Agreement, three Landscape Maintenance Agreements, and nine Stormwater Treatment Measures and Maintenance Agreements for the development at 50, 80, and 88 Finger Avenue, commonly known as "The Grove." The Grove development consists of eight for -sale single family homes with a private street, Liberty Hall Lane. The construction permit, approved and issued by the City, required the developer to make on-site and off-site improvements. Improvements included grading and drainage, water, sanitary sewer, and joint trench utilities, and frontage improvements such as sidewalk, street trees, and streetlights. The total value of improvements completed is estimated at $273,424. ANALYSIS The developer, Liberty Hall Lane Partners, L.P, has completed the construction of improvements in accordance with the Improvement Agreement, the plans and specifications, and to the satisfaction of the City Engineer. In addition, the developer has completed all mitigation measures required of the project within the EIR, to the satisfaction of the City Engineer and Planning Manager. The developer provided faithful performance and labor material ("payment") bonds in the amount of $273,424, which may now be released in accordance with the terms written in the Improvement Agreement. A maintenance (warranty) bond in the amount of $27,342.40 (10% of the faithful performance bond) will be held for a one-year period, in the event any of the improvements fail within that time. ALTERNATIVES Council may choose not to accept the construction improvements and release bonds, which would be contrary to the provisions in the existing Improvement Agreement.