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December 2, 2002 <br /> <br />Subject <br />Release of Bonds - Gossamer Village Subdivision - "Model Complex" <br />Engineering File No. 805-04 <br /> <br />Recommendation <br />Release the bonds posted for the Gossamer Village Subdivision "Model Complex", and <br />waive the requirement of Paragraph 9 of the Agreement for submission of the <br />Maintenance Bond. <br /> <br />Background <br />On October 27, 1997, by Resolution No. 13220, the City Council approved an <br />Agreement for the construction of improvements relating to the Gossamer Village <br />Subdivision "Model Complex." The subdividers, M.J. Brock & Sons, Inc., dba Ryland <br />Homes Bay Area Division, have completed the construction of the improvements (i.e., <br />the construction of a portion of Whisper Wave Circle, Windlea Lane, water lines and <br />services, street paving and landscaping) in accordance with the Agreement, the Plans <br />and Specifications, and to the satisfaction of Engiheering and Construction ServiceS~ <br />The subdivider posted a Faithful Performance Bond and Labor & Materials Bond, each <br />in the amount of $560,000.00. <br /> <br />Subsequent to the approval of the Agreement for the "Model Complex", the complex <br />has become part of Gossamer Village unit No. 1 Subdivision. The Gossamer Village <br />Unit No. 1 subdivision improvements have been accepted by City Council on October 8, <br />2001. The subdividers posted a Maintenance Bond for improvements (including the <br />"Model Complex" site); therefore, the requirement of Paragraph 9 of the Agreement for <br />the "Model Complex" can be waived. <br /> <br />Alternative <br /> Do not release the bonds for the Gossamer Village Subdivision "Model. Complex", <br /> which would be contrary to prior Council action. <br /> <br />Fiscal Impacts <br /> Funds were provided by the Public Works Services Department Operational Budget, for <br /> the maintenance of the water, sewer, and off-site improvements under the Gossamer <br /> Village Unit No. 1 Subdivision acceptance. <br /> <br /> \ - /// ' <br /> <br />Charles Csicsman ~ Bruce Liedstrand Ed Everett <br />Supervising Engineer Community Development Services Director City Manager <br /> <br />CC:ss <br /> ~ /~¥~,, v re:~©:',s /owe// a~ceat Gossamer Vi#age - Mode/Complex <br /> <br /> <br />