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<br />6.28 <br />REPORT ... <br /> <br /> <br /> <br /> <br />June 25, 2007 <br /> <br />SUBJECT <br />Final acceptance of Downtown Retail-Cinema Streetscape Improvements <br /> <br />RECOMMENDATION <br />Accept, by motion, the Downtown Retail-Cinema Streetscape Improvements completed <br />by BHV Innisfree Ventures, LLC, ("SHV"), release a portion of the retention in the <br />amount of $340,548.42, and authorize the Community Development Services Director <br />to release the remaining retention amount of $100,000.00 upon resolution of <br />outstanding allowance issues. <br /> <br />BACKGROUND <br />On September 26, 2005, City Council and the Redevelopment Agency authorized <br />improvements to the streetscape surrounding the recently completed "On Broadway" <br />development. Council and Agency approved the design documents prepared by <br />Freedman Tung and Bottomley, and approved the Construction and Reimbursement <br />Agreement with On Broadway Redwood City, LLC (a.k.a. BHV). The cost of the <br />improvements per the agreement was $5,103,896. The developer's portion was <br />$1,300,000 and the City/Agency portion was $3,803,896. <br /> <br />Improvements included: <br />. Reconstruction of Middlefield Road, from Winslow Street to Broadway, to create a <br />one-way decoratively paved street that can be closed and converted into an outdoor <br />dining/entertainment plaza. <br /> <br />. Reconstruction of Broadway, from Jefferson to Hamilton, to provide a dedicated drop <br />off area on Broadway including new street furniture, decorative column lights and <br />street lights, planter pots, new curbs, gutters and sidewalk, and other aesthetic <br />features. <br /> <br />. Improvements to the storm drain system. <br /> <br />. Reconstruction of Jefferson Avenue from Middlefield to Broadway, <br /> <br />. Installation of new landscaping and irrigation including 21 new palm trees, street <br />trees, decorative entry bowl on Theatre Way and new planters. <br /> <br />. Installation of new traffic signals at Jefferson and Broadway. <br /> <br />. Installation of new signage and striping. <br />