CC Resolution No. 98-261RESOLUTION NO. 98-261
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
AUTHORIZING EXECUTION OF IMPROVEMENT AGREEMENT BETWEEN
THE CITY AND DEVELOPER DAYTON-HUDSON CORPORATION,
A MINNESOTA CORPORATION, 20745 STEVENS CREEK
BOULEVARD, APN 326-32-055
WHEREAS, there has been presented to the City Council a proposed improvement
agreement between the City of Cupertino and developer, Dayton-Hudson Corporation, a
Minnesota Corporation, for the installation of certain municipal improvements at 20745 Stevens
Creek Boulevard ~ De Anza Boulevard, 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 19~ day of October, 1998, by the following vote:
Vote
Members of the City Council
AYES:
NOES:
ABSENT: NONE
ABSTAIN: NONE
ATTEST:
Cit~
BURNETT, DEAN, JAMES, STATTON, CHANG
NONE
A~PP~OVED: ~, ~-~
~viayor, city of Cupertino ' N~
Resolution No. 98-261
Page 2
EXHIBIT "A"
SCHEDULE OF BOND, FEES, AND DEPOSITS
DEVELOPMENT: Conunercial Building Addition (Target Stores)
Dayton-Hudson Corporation, a Minnesota Corporation
LOCATION: 20745 Stevens Creek Boulevard
A. Faithful Performance Bond: Off-site: $ 21,500,00
TWENTY-ONE THOUSAND FIVE HUNDRED AND 00/100 DOLLARS
B. Labor and Material Bond: Off-site: $ 21,500,00
TWENTY-ONE THOUSAND FIVE HUNDRED AND 00/100 DOLLARS
C. Checking and Inspection Fees: $ 1,975.00
ONE THOUSAND NiNE HUNDRED SEVENTY-FIVE AND 00/100 DOLLARS
D. Indirect City Expenses:
E. Development Maintenance Deposit:
ONE THOUSAND AND 00/100 DOLLARS
F. Storm Drainage Fee: Basin #3
N/A
$ 1,000.00
$19,989,20
NiNETEEN THOUSAND NiNE HUNDRED EIGHTY-NiNE AND 20/100 DOLLARS
G. One Year Power Cost: N/A
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
Signal Light Reimbursement Fee: ($150,000.00 * 33-1/3%) = $50,000.00
N/A
*Developer agrees to pay thirty-three and one third percent (33-1/3%) of actual cost of the
signal light to be installed at the intersection of Stevens Creek Boulevard and Saich Way.
Any excess amount shall be refunded to the developer.