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(� d <br />CS -� <br />December 1, 2003 <br />Subject <br />Final Acceptance — Bair Island Marina Subdivision and Improvements to Bair Island <br />Road Extension - Engineering File No. 805 -04 <br />Recommendation <br />Accept by separate Minute Orders the following projects: <br />1. Bair Island Marina Residential Subdivision, and <br />2. Street Improvements for Bair Island Road Extension, and <br />release the bonds for the two projects, following the submission of a Maintenance Bond <br />in the amount of $257,200 and $53,900, respectively, in accordance with the two <br />Improvement Agreements. <br />Background <br />The Council approved the following two separate agreements for the improvements <br />related to the Bair Island Marina Subdivision: <br />On November 23, 1998, by Resolution No. 13514, the City Council approved the <br />Bair Island Marina Residential Subdivision and the agreement for the subdivision <br />improvements (an apartment complex and boat marina, located at 700 Bair <br />Island Road. The street improvements consist of an extension and widening of a <br />portion of Bair Island Road). <br />2. On June 8, 1998 by Resolution No. 13359 the Council approved the agreement <br />for the Improvements to Bair Island Road Extension. <br />The Developer, Irvine Apartment Communities, has completed the construction of the <br />improvements for these two projects in accordance with the Agreements, the plans and <br />specifications, and to the satisfaction of Engineering and Construction Services. The <br />developer provided a Faithful Performance Bond and a Labor & Materials Bond for <br />each project, in the amount of $2,572,000 for the subdivision improvements, and <br />$539,000 for the improvements to the Bair Island Road Extension, which can now be <br />released. <br />Alternative <br />The alternative is to not accept the improvements, which would be contrary to prior <br />Council action. <br />-1- <br />