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7.2.B. - Page 1 <br /> RE PO RT <br /> To the Honorable Mayor and City Council <br /> From the Cit Mana er <br /> October 7, 2013 <br /> SUBJECT <br /> Final Acceptance — Kentfield Pacific Place Subdivision Improvements <br /> RECOMMENDATION <br /> By motion, accept the construction improvements for the Kentfield Pacific Place <br /> Subdivision, and release the bonds according to City procedures in accordance with the <br /> Subdivision Agreement. <br /> BACKGROUND <br /> On December 12, 2011, Council approved the Agreement for construction <br /> improvements for the Kentfield Pacific Place subdivision and accepted the dedication of <br /> Public Service Easements and Emergency Access Easements. The City approved and <br /> issued permits requiring the developer to install sanitary sewer, storm drain, and water <br /> utilities improvements, a new private road, and make other related improvements <br /> including paving, landscaping, and landscape irrigation. Twenty One single family <br /> homes were built separately under this agreement with substantial completion of the <br /> building permit occurring in May of 2013. <br /> ANALYSIS <br /> The developers, Pacific Peninsula Group, have completed the construction of the <br /> improvements in accordance with the Agreement, the plans and specifications, and to <br /> the satisfaction of the City's Community Development Department. <br /> The developers provided a faithful performance bond and a labor and material bond, <br /> each in the amount of $438,160.00 which can be released at this time. These bonds <br /> will be replaced by a maintenance bond in the amount of $43,816.00 (10%) which will <br /> be held for a period of 1 year. This bond is a warranty in case any of the improvements <br /> fail within the 1 year period. <br /> ALTERNATIVES <br /> Council may choose not to accept the construction improvements which would be <br /> contrary to the provisions in the existing Agreement. <br />