CC Resolution No. 9961RESOLUTION NO. 9961
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
AUTHORIZING EXECUTION OF IMPROVEMENT AGREEMENT
BETWEEN THE CITY AND DEVELOPER CUPERTINO HOTEL ASSOCIATES,
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 Cupertino Hotel
Associates, LLC, for the installation of certain municipal improvements within Tract
8980, west side of Wolfe Road ~ Pruneridge 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 15* day of September, 1997, by the following vote:
Vote
Members o__f thee City Council
AYES:
NOES:
ABSENT:
ABSTAIN:
Bumett, Chang, Dean, Sorensen, Bautista
None
None
None
ATTEST:
City Clerk
APPROVED:
/a~r, City of ~u~rtino
Regolution No. 9961
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: $503,000.00
FIVE HUNDRED THREE THOUSAND AND 00/100 DOLLARS
B. Labor and Material Bond: $503,000.00
FIVE HUNDRED THREE THOUSAND AND 00/100 DOLLARS
C. Checking and Inspection Fee: $ 25,150.00'
TWENTY FIVE THOUSAND ONE HUNDRED FIFTY AND 00/100 DOLLARS
D. Indirect City Expenses:
E. Development Maintenance Deposit:
THREE THOUSAND AND 00/100 DOLLARS
F. Storm Drainage Fee:
N/A
$ 3,000.00*
$ 5,688.00*
FIVE THOUSAND SIX HUNDRED EIGHTY-EIGHT 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. Park Fee: Zone II N/A
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
* To be paid by escrow//01088775-1 per escrow instruction.