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being 189 townhomes out of the 249 authorized for One Marina in total. Public <br />improvements associated with these phases of work included reconstruction of the <br />remaining portion of Bair Island Road, known as Bair Island Road Phase II, and City <br />Council accepted these improvements on May 18, 2015. After receiving the required <br />close-out documentation and as-built records, the improvements proposed for <br />acceptance by City Council at this time include the remaining on- and off-site <br />improvements covered by Improvement Agreements approved for Phase 2 and Final <br />Phase. These public improvements include grading and paving, curb, gutter, sidewalk, <br />public access paths, sanitary sewer mains, water mains, storm drainage, site lighting, <br />landscaping and irrigation, and joint trench facilities. The total value of public <br />improvements for these phases of work is estimated at $2,750,000. <br /> <br />On February 9, 2015, City Council approved maintenance agreements for the hotel <br />project located at 600 Bair Island Road, now known as Marriott. The hotel project is <br />substantially completed and is undergoing the close out process at this time. <br /> <br />ANALYSIS <br />The developer, RC Peninsula Park, LLC, has completed the construction of <br />improvements in accordance with the Improvement Agreements, the plans and <br />specifications, and to the satisfaction of the City’s Engineering & Transportation <br />Division. <br /> <br />The developer provided faithful performance and labor and material (“payment”) bonds, <br />one in the amount of $1,000,000 and the other in the amount of $1,750,000, which may <br />now be released in accordance with the terms of the Improvement Agreements. <br />Maintenance (warranty) bonds in the amount of $100,000 and $175,000 (10% of the <br />faithful performance bond) will be held for a one-year period, in the event that any of the <br />improvements fail within that time. <br /> <br />ALTERNATIVES <br />Council may choose not to accept the construction improvements and release bonds, <br />which would be contrary to the terms of the Improvement Agreement. <br /> <br />FISCAL IMPACT <br />There is no fiscal impact to the City as a result of this action. <br /> <br />ENVIRONMENTAL REVIEW <br />This action does not constitute a Project as defined by the California Environmental <br />Quality Act. <br /> <br /> <br /> <br />6.2.A. - Page 2