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6.E. - Page 1 of 53 <br />/<�ik <br />Redwood <br />CitylCallifornia <br />Faunded 1867 <br />A,&/ <br />DATE: February 22, 2021 <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 Stanford in Redwood City Phase 1 development <br />project and release of associated bonds, and approval of an improvement agreement with Stanford Health <br />Care <br />RECOMMENDATION <br />1. By motion, accept the construction improvements for Stanford in Redwood City Phase 1, and authorize <br />the release of the bonds in accordance with the improvement agreement; and <br />2. By motion, approve and authorize the City Manager to execute an Improvement Agreement with <br />Stanford Health Care. <br />STRATEGIC PLAN GUIDING PRINCIPLE <br />Public Safety <br />BACKGROUND <br />On April 24, 2017, the City Council approved the Improvement Agreement for the Stanford in Redwood <br />City Phase 1 development which consisted of four new office buildings totaling 570,000 sq. ft., a seven - <br />level parking structure, and a fitness center, child care center, cafeteria, conference center, and central <br />energy facility. The construction permit, approved and issued by the City, required the developer to make <br />on-site and off-site improvements. Improvements included two new private roads and an open space area <br />with public access. Improvements also included new sewer, storm and water mains and services, the <br />undergrounding of all overhead utilities around the entire development block and Douglas Ave, a new <br />recycled water main from the nearest point of connection at Seaport Boulevard and E. Bayshore <br />Boulevard, intersection and traffic improvements at several nearby and adjoining intersections, and new <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 />306 <br />