AgdaPkt 2003-02-24 - Laserfiche WebLink

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REPOT c- To tli� Honorable Maybiand City Council from the C Mana er February 24, 2003 Subject Final Acceptance for the Improvements for the @Home Corporate Campus Phase 2 Subdivision located at 420 and 430 Broadway.- Engineering File No. 805 -03 Recommendation Accept the improvements for the @Home Corporate Campus Phase 2 Subdivision, and authorize the release of bonds following the submission of a Maintenance Bond in the amount of $110,000.00. Background On September 15, 1998, the City Council approved the @Home Corporate Campus Phase 2 Subdivision, and the agreement for the improvements of the subdivision. The subdivider, Martin/Campus Associates, L.P., a Delaware Limited Partnershhip, has completed the construction of the improvements in accordance with the Subdivision Agreement. The improvements in the public right -of -way included a 12 -inch storm drain section along Broadway; street modifications, paving, street overlay and stripping, plus associated curb & gutter, sidewalk, street trees, and tree grates. The subdivider provided a Faithful Performance Bond and a Labor & Materials Bond, each in the amount of $1,100,000.00, which can now be released following the submission of a Maintenance Bond in the amount of $110,000.00. Alternative Do not accept the @Home Corporate Campus Phase 2 Subdivision, which would be contrary to prior Council action. Fiscal Impacts A Maintenance Bond will be held for one year, after which maintenance will be the responsibility of the City. Funds are appropriated in the Public Works Services Department Operational Budget for the maintenance of the publicly owned street, storm drainage, water, and sewer improvements within the public right -of -way and easement. Phong Du Bruce Lie strand 4Edverett Senior Civil Engineer Community Development Services Director City Manager PDU:ss sAibrary/reportsiphonyaccept- ®Home Campus Phase 2