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6.D. - Page 1 of 26 <br />/<�ik <br />Redwood <br />CitylCallifornia <br />Faunded 1867 <br />Ago/ <br />DATE: August 24, 2020 <br />SUBJECT <br />STAFF REPORT <br />To the Honorable Mayor and City Council <br />From the City Manager <br />Final acceptance of construction improvements for the 150 EI Camino Real development project and <br />release of associated bonds <br />RECOMMENDATION <br />By motion, accept the construction improvements for 150 EI Camino Real, and authorize the release of <br />the bonds in accordance with the improvement agreement. <br />STRATEGIC PLAN GUIDING PRINCIPLE <br />Housing <br />BACKGROUND <br />On June 27, 2016, the City Council approved the Improvement Agreement for the 150 EI Camino Real <br />development which consisted of the creation of a 12 -unit, for -sale condominium development. The <br />Construction Permit, approved and issued by the City, required the developer to make on-site and off-site <br />improvements. Improvements included grading and drainage, paving, a watermain extension, new storm <br />drain line, new sewer, storm, and water services, as well as new sidewalks, trees, and street lighting. The <br />total amount of improvements completed is estimated at $859,899.00. <br />Page 1 of 3 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore <br />