AgdaPkt 2012-06-18 Special - Laserfiche WebLink

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6.1. D. - Page 1 RE PO RT To the Honorable Mayor and City Council From the Cit Mana er June 18, 2012 SUBJECT Construction Improvement Agreement for Lathrop PARC — 134 Maple Street RECOMMENDATION Approve, by motion, revisions to the previously approved Agreement for Construction of Improvements with Lathrop PARC, LLC, as owner of record of said real property located at 134 Maple Street in Redwood City, and authorize the City Manager to execute the Agreement as revised. BACKGROUND In May 2009, the Planning Commission approved the Use Permit for a five story skilled nursing facility at 134 Maple Street. The conditions of the Use Permit require that certain site improvements be constructed to serve the new structure including, but not limited to, new sidewalk, curbs, gutters, ramps, driveway access, crosswalks, utility services, fire department connections, drainage facilities, landscaping, street lights, and other typical site improvements within the public right-of-way. The owners offered public service easements and an emergency access easement to allow the city to serve the property. The developer's civil engineer, has completed the Improvement Plans and specifications in accordance with Redwood City Ordinances and to the satisfaction of the Community Development Department. The estimated cost of the site improvements is $1,260,642. Inspections will be performed during construction by city staff to ensure compliance with the permit conditions. Lathrop PARC is responsible for the total cost of the improvements and is required to post faithful performance and payment bonds, each in the amount of $1,260,642. All work associated with this project is being paid for by the developer. On March 7, 2011 Council approved the Construction of Improvements Agreement for Lathrop PARC. ANALYSIS The agreement approved by Council on March 7, 2011 was not fully executed. At that time, the project owner deferred entering into agreement until project financing issues could be resolved. The project owner has an opportunity to secure financing for the project through the U.S. Department of Housing and Urban Development (HUD). The project owner requests that the previously approved agreement be modified to meet