AgdaPkt 2008-07-07 Clsd and Reg - Laserfiche WebLink

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6.1A Page 2 The school site, Lot 3, will be developed by the Belmont-Redwood Shores School District into an elementary school for as many as 450 students. Plans for the school are currently being finalized by the Redwood Shores community and the District. Those plans are scheduled for public release within the next two months. The Redwood Shores Owners Association will have right of architectural review of the structure, and the City's Planning Department will ensure that the conditions of approval of the Community Permit are met. A second subdivision map will be recorded in 2009 for Lot 4 that includes the 25 townhouse style units proposed at Salt Court and associated site improvements. A third subdivision map for Lot 2 will follow that includes 131 dwelling units identified as "The Preserve Townhomes". All future development will conform to the approved tentative map and Planned Community Permit. The first stage of improvements includes widening Shearwater Parkway to accommodate bike lanes, park improvements, levee construction, and entrances for the three projects. In order to accomplish these street improvements, Keech Properties LLC, proposes to dedicate approximately 0.35 acres to the City as part of Shearwater Parkway. In return, Keech Properties LLC, has requested that the City vacate a portion of Shearwater Parkway that was created by Lakeside Subdivision Unit No.2, and is only .04 acres. An appraisal, available for review from the City Engineer, was performed by an independent appraiser and it was determined that the value of the real property interests being vacated is much less than the real property interests being dedicated to the City in exchange therefore. As well, Keech Properties LLC offers dedication of easements for public services (utilities), and emergency access. The subdivider's engineer, BKF Engineers, has completed the Improvement Plans and Final Map in accordance with the Conditions of Approval, Subdivision Map Act, Redwood City Ordinances, and to the satisfaction of the City's Engineering & Construction Division. Faithful Performance and Labor & Material Bonds, each in the amount of $6,012,000.00, are required to be posted for the subdivision improvements prior to the recordation of the Final Map. ALTERNATIVes Council may choose not to approve the subdivision which would be contrary to public law and City policy. FISCAL IMPACT All work associated with this project is being paid for by Keech Properties LLC. The developer may be eligible for reimbursement for the public improvements through the GID 1-64, after he obtains approval from the GID Committee, and the City Council for the budget amendment required to fund the project. The City will be required to maintain the public improvements, including the levee and the park, once the construction is complete.