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Page 5 of 7 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org <br />Table 3: Off-Site Improvements <br />Off Site Improvement Completed To Be <br />Completed <br />Recycled Water Main Extension X <br />Sanitary Sewer Upgrades in Bradford and Walnut X <br />Redwood Avenue Traffic Calming X <br />Main/Chestnut Intersection Improvements X <br />El Camino Real Improvements (Pedestrian Crossing and Bike Lane)X <br />Main Street Dog Agility Park Expansion & Improvements X <br />Main/Pine Intersection Improvements X <br />Lathrop/Maple Parcel Improvements Contribution X <br />Most of the public infrastructure improvements are complete. Therefore, the developer requests to <br />amend the SIA to authorize a bond reduction greater than the SIA’s current 25 percent maximum <br />reduction. The proposed amendment would allow for a bond reduction of up to 50 percent, $18,588,428. <br />This amount is sufficient to complete the remaining improvements and to provide contingency coverage <br />for potential damage to recently constructed infrastructure during future construction of the residential <br />parcels. <br />The current commercial developer anticipates sale of the remainder of the project to a residential <br />developer for completion of the high-density residential uses. With much of the work completed, the <br />developer requested acceptance of the completed public infrastructure improvements. In accordance <br />with the SIA, the City Council may accept a portion of the improvements and release of a portion of the <br />securities. The 2022 SIA limited the bond reduction to 25 percent, requiring 75 percent of the bond to <br />remain in place until the entirety of improvements included within the agreement are completed. The SIA <br />amendment noted above would allow for a bond reduction of 50 percent, to $18,588,428. <br />The developer completed the installation of the domestic and recycled water facilities within the JPB right- <br />of-way under the terms of their license agreements with JPB. Following City acceptance, these facilities <br />require license agreements between the City and JPB to allow for their continued operation and <br />maintenance within the JPB right-of-way. <br />EQUITY IMPACT <br />All City actions are assessed for impact. Because this item is on the consent calendar, this section indicates <br />assessment process, not findings. The anticipated impact of this policy, program, or action has been <br />assessed in the following way: <br />Applied a geographic equity index to assess impacts by location <br />7.G. - Page 5 of 104 <br />103