CC Resolution No. 98-132RESOLUTION NO. 98-132
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
AUTHORIZING EXECUTION OF IMPROVEMENT AGREEMENT
BETWEEN THE CITY AND DEVELOPER OPTIMUM INVESTMENTS LLC, A
CALIFORNIA LIMITED LIABILITY COMPANY, 21870 LOMITA AVENUE;
APN 357-15~004
WHEREAS, there has been presented to the City Council a proposed improvement
agreement between the City of Cupertino and developer, Optimum Investments LLC, a
California Limited Liability Company, for the installation of certain municipal improvements at
21870 Lomita 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, THEREFORi~, 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 1st day of June, 1998, by the following vote:
Vote
Members of the City Council
AYE S:
NOES:
ABSENT:
ABSTA1N:
BURNETT, DEAN, JAMES, STATTON, CHANG
NONE
NONE
NONE
ATTEST:
CityClerk~~
Mayor, City of Cupertino
-- Resolution No. 98-132
Page 2
DEVELOPMENT:
LOCATION:
EXHIBIT "A"
SCHEDULE OF BOND, FEES, AND DEPOSITS
Single Family Home
' Optimum Investments LLC
21870 Lomita Avenue, APN 357-15-004
A. Faithful Performance Bond:
ELEVEN THOUSAND FOUR HUNDRED AND 00/100 DOLLARS
B. Labor and Material Bond:
ELEVEN THOUSAND FOUR HUNDRED AND 00/100 DOLLARS
C. Checking and Inspection Fees: $ 1,918.00
ONE THOUSAND NINE HUNDRED EIGHTEEN AND 00/100 DOLLARS
D. Indirect City Expenses: N/A
E, Development Maintenance Deposit: $ 1,000.00
ONE THOUSAND AND 00/100 DOLLARS
F. Storm Drainage Fee:' Basin #3 $ 270.00
TWO HUNDRED SEVENTY AND 00/100 DOLLARS
G. One Year Power Cost: $ 75.00
SEVENTY-FIVE AND 00/100 DOLLARS
$11,400.00
$11,400.00
H. Street Trees: By Developer
I. Map Checking Fee: N/A
J. Park Fee: N/A
K. Water Main Reimbursement: N/A
L. Maps and/or Improvement Plans: As specified in
Item #23 of agreement