Laserfiche WebLink
Oct-l{;-e2. 11:1{; From-I^C g4¢~-720-5550 T-O?{; POOZ/O03 F-Zg$ <br />,i 0. '-I0 <br />APARTMENT COMMUNITIES <br /> <br /> October 16, 2002 <br /> <br /> Mr. Michae! Church <br /> planmng & Redevelopment Manager <br /> City o£Redwood City <br /> P.O. Box 391 <br /> Redwood City, CA 94064 <br /> <br /> RE: REIMBURSMENT AGREEMENT FOR STREET IMPROVEMENTS AT THE <br /> INTERSECTION OF MAPLE STREET AND LATHROP STREET <br /> FRANKLIN STREET APARTMENTS <br /> REDWOOD CITY, CALIFORNIA <br /> <br /> Dear Mr. Church: <br /> <br /> The purpose of this letter is to document the current proposal related to the City's request for <br /> lrvine Apartment Communities to construct improvements at thc intersection of Lathrop and <br /> Maple. Although_ Franklin Street Apartments is not required to constmet the improvements as <br /> part of the project's conditionS of approval, IAC has agreed to perform the work as a <br /> convenience to the City, subject to reeeix~ng reimbursement for the cost of such improvements. <br /> Attached is the budget for the proposed work, totaling $75,038. This budget was derived from <br /> the plans received from City staff and prepared by BKF. <br /> Based on discussions, provided below is a process by which these improvements will be <br /> completed: <br /> <br /> 1. City/Redevelopment Agency approves reimbursement agreement, Per our discussion, <br /> this would be done at the November 4t~ meeting. <br /> <br /> 2. IAC kdtiates construction on November 56, closing Lathrop Street at its intersection with <br /> Maple Street. <br /> <br /> 3. City authorizes opexfing of Maple and Franklin Streets, allowing access to Franklin Street <br /> Apartment parking gaxages, businesses on Maple, and downtown traffic. <br /> <br /> 4. LAC completes Lathrop improvements and reopens Lathrop in approximately 45-days. <br /> <br /> 5. IAC obtains remabursement for the improvement costs. <br /> We look forward to working with City staffto complete this project. If you shou/d have any <br /> questions regarding this request, please call me at 949-720-5555 <br /> <br /> Mark D. Janda <br /> <br /> Vice President, Development <br /> <br /> 550 Newport Center Drive Newport Beach, CA 92660 * (949) 720-5500 * (949) 720-5550 F~ <br /> <br /> <br />