AgdaPkt 2018-09-10 Joint SA PFA - Laserfiche WebLink

Browse Search

6.2.A. - Page 1 REPORT To the Honorable Mayor and City Council From the City Manager September 10, 2018 SUBJECT Final Acceptance — Blu Harbor at 1 Uccelli Boulevard RECOMMENDATION By motion, accept the construction improvements for Blu Harbor at 1 Uccelli Boulevard, and authorize the release of the bonds in accordance with the Subdivision Improvement Agreement BACKGROUND On June 22, 2015 the City Council approved the Improvement Agreement for the Blu Harbor at 1 Uccelli Boulevard Development which consisted of the creation of a three lot subdivision for 402 residential condo units with six 9 -unit buildings, four 10 -unit buildings, and a larger building wrapped around a parking structure that contains remaining 308 units. The Construction Permit, approved and issued by the City, required the developer to make on-site and off-site improvements. Improvements include but are not limited to new domestic and recycled water mains, storm drain connections, a sanitary sewer main, an 8' bike trail, and improved crosswalk to provide connectivity to the Bair Island Road bike trail, and the Bay Trail. The total amount of improvements completed is estimated at $8,760,611.00. ANALYSIS The developer, RWC Harbor Communities, LLC, has completed the construction of improvements in accordance with the Agreement, the plans and specifications, the conditions of approval and tentative map, and to the satisfaction of the City's Engineering & Transportation Division. The developer provided a faithful performance bond and a labor and material bond, each in the amount of $8,760,611.00 that can be released at this time. These bonds will be replaced by a maintenance bond in the amount of $876,061.10 (10%), which will be held for a period of one year. The maintenance bond is a warranty in the event any of the improvements fail within a one-year period.