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6.2B <br /> Page 1 <br /> �EPORT <br /> To the Honorable Mayor and City Council <br /> From the City Manager <br /> December 14, 2009 <br /> SUBJECT <br /> Final Acceptance 122-136 Lincoin Avenue Townhomes (Habitat for Humanity) <br /> RECOMMENDATION <br /> Accept, by motion, the construction improvements for #he Lincoln Avenue Townhomes, <br /> and release the bonds following the receipt of a maintenance bond in the amount of <br /> $34,500.00 according to City procedures in accordance with the Subdivision <br /> Agreement. <br /> BACKGROUND <br /> On January 14, 2008, Counci! approved the Agreement for Subdivision improvements <br /> at 122-136 Lincoln Avenue. The City-approved permits required the developer to make <br /> improvements within City right-of-way related to eight new townhouse style <br /> condominium units. <br /> The developers, Habitat for Humanity, have compieted the construction of <br /> improvements in accordance with the Agreement, the plans and specifications designed <br /> by Renner Surveying and Engineering, and to the satisfaction of fhe City's Building <br /> Infrastructure and Transportation Department. <br /> The developers provided a faithful performance bond and a labor and material bond, <br /> each in the amount of $345,000.00 which can be released upon receipt of a <br /> maintenance bond in the amount of $34,500.00. This bond wi(I be retained by the City <br /> for a period of one year. <br /> ALTERNATIVES <br /> Council may choose not to accept the Subdivision improvements which would be <br /> contrary to the provisions in the existing Agreement. <br /> FISCAL IMPACT <br /> There is no fiscal impact as a result of this action. <br /> ,�_ <br /> �.—�� , r . <br /> Paul Willis, P.E. Peter Vorametsant�, P.E. <br /> Senior Civii ngi eer City Engineer <br /> / <br /> Chu Chang, . . Peter tngram <br /> Director, Building fnfrastructure&Transportation City Manager <br /> A7TACHMENTS <br /> Nane <br /> RELATED DOCUMENTS IN CITY CLERK'S OFFICE <br /> Agreement for Improvement of Lincoln Avenue Townhomes <br />