CC Resolution No. 9960RESOLUTION NO. 9960
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
AUTHORIZING EXECUTION OF IMPROVEMENT AGREEMENT
BETWEEN THE CITY AND DEVELOPER BENCHMARK HOMES LLC,
TRACT 8980, WEST SIDE OF WOLFE ROAD ~ PRUNERIDGE
AVENUE-TANDEM SITE
WHEREAS, there has been presented to the City Council a proposed
improvement agreement between the City of Cupertino and developer Benchmark Homes
LLC, for the installation of certain municipal improvements within Tract 8980, west side
of Wolfe Road ~ Pnmeridge Avenue, and said agreement having been approved by the
City Attorney, and Developer having paid the fees as outlined in the attached Exhibit A;
NOW, THEREFORE, BE IT RESOLVED that the Mayor and the City Clerk are
hereby authorized to sign the aforementioned agreement on behalf of the City of
Cupertino.
PASSED AND ADOPTED at a regular meeting of the City Council of the City of
Cupertino this 15th day of September, 1997, by the following vote:
Vote
Members o._f th_.~e City Council
AYES:
NOES:
ABSENT:
ABSTAIN:
Burnett, Chang, Dean, Sorensen, Bautista
None
None
None
ATTEST:
Ci~<~~
APPROVED:
M~or, City 6f Cupertino
Re olution No. 9960
Page 2
WHEREAS, pursuant to the provisions of this AGREEMENT, the CITY hereby
established the amounts of bonds, fees, and deposits as set forth in the following
schedule:
SCHEDULE OF BOND, FEES AND DEPOSITS
A. Faithful Performance Bond: $201,500.00
TWO HUNDRED ONE THOUSAND FIVE HUNDRED AND 00/100 DOLLARS
B. Labor and Material Bond: $201,500.00
TWO HUNDRED ONE THOUSAND FIVE HUNDRED AND 00/100 DOLLARS
C. Checking and Inspection Fee: $ 12,090.00'
TWELVE THOUSAND NINETY AND 00/100 DOLLARS
D. Indirect City Expenses: N/A
E. Development Maintenance Deposit: $ 3,000.00'
THREE THOUSAND AND 00/100 DOLLARS
F. Storm Drainage Fee: $ 3,406.00*
THREE THOUSAND FOUR HUNDRED SIX AND 00/100 DOLLARS
G. One Year Power Cost: N/A
H. Street Trees: By Developer
I. Map Checking Fee: $ 232.00*
TWO HUNDRED THIRTY-TWO AND 00/100 DOLLARS
J. ParkFee: ZonelII $ 55,125.00'
FIFTY-FIVE THOUSAND ONE HUNDRED TWENTY-FIVE AND 00/100 DOLLARS
K. Water Main Reimbursement Fee: N/A
L. Maps and/or Improvement Plans: As specified in
Item #23 of agreement
Abandonment of Becker Lane:
8901 sq. ft.*$3.00/sq, ft. = $26,703.00*36% = $ 9,613.08'
To be paid by escrow//01088775-4 per escrow instruction.