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6.1 C- <br />REPORT <br />To the Honorable Mayor and City Cou <br />From the City Mane <br />March 24, 2003 <br />Subject <br />Final Acceptance of the Improvement for Parcel Map No. 98 -2 located at 440 and 450 <br />Broadway ( @Home Corporation Park) - Engineering File No. 805 -02 <br />Recommendation <br />Accept the improvements for Parcel Map 98 -2, and authorize the release of bonds <br />following the submission of a Maintenance Bond in the amount of $122,000.00. <br />Background <br />On July 30, 1998, the City Council approved Parcel Map No. 98 -2, and the Agreement <br />for the Improvements of the Parcel Map. The subdivider, Martin /Campus Associates, <br />L.P., a Delaware Limited Partnership, has completed the construction of the <br />improvements in accordance with the Parcel Map Agreement. The Improvements in the <br />public right -of -way included storm drain, water line, landscaping work, street <br />modifications, paving, street overlay, sidewalk, curb and gutter. <br />The subdivider provided a Faithful Performance Bond and a Labor & Materials Bond, <br />each in the amount of $1,220,000.00, which can now be released following the <br />submission of a Maintenance Bond in the amount of $122,000.00. <br />Alternative <br />Do not accept the improvements for Parcel Map No. 98 -2, which would be contrary to <br />prior council action. <br />Fiscal Impacts <br />A Maintenance Bond will be held for one year, after which maintenance will be the <br />responsibility of the City. <br />Funds are appropriated in the Public Works Services Department Operational Budget <br />for the maintenance of the publicly owned street, water line and storm drain within the <br />public right -of- way and easement. <br />A7 YX I <br />Phong Du B ce Liedstrand Ed verett <br />Senior Civil Engineer Community Development Services Director City Manager <br />PD:ss <br />s/ library/reports/phong/Acceptance_PM 98 -2 <br />