CC Resolution No. 03-052- RESOLUTION NO. 03-052
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
AUTHORIZING EXECUTION OF IMPROVEMENT AGREEMENT
BETWEEN THE CITY AND DEVELOPER, REPUBLIC PROPERTIES, INC.,
22551, 22561, 22571, 22581 RICARDO ROAD, APNS 356-03-051,052, 053,054
WHEREAS, there has been presented to the City Council a proposed improvement
agreement between the City of Cupertino and developer, Republic Properties, Inc., for the
installation of certain municipal improvements at 22551, 22561, 22571, and 22581 Ricardo Road
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 17th day of March 2003, by the following vote:
Vote
Members of the CiW Council
AYES:
NOES:
ABSENT:
ABSTAIN:
Chang, James, Kwok, Sandoval, Lowenthal
None
None
None
ATTEST:
City Cle~krk ~/t~c~
Mayor, City of Cupertino
Resolution No. 03-052
Page 2
DEVELOPMENT:
LOCATION:
EXHIBIT "A"
SCHEDULE OF BOND, FEES, AND DEPOSITS
Republic Properties, Inc.
22551, 22561, 22571, 22581 Ricardo Road,
APNs 356-03-051,052, 053,054
A. Faithful Performance Bond: On-site: $ 41,227.25
Off-site: $ 32,085.25
FORTY-ONE THOUSAND TWO HUNDRED TWENTY-SEVEN AND 25/100 DOLLARS
THIRTY-TWO THOUSAND EIGHTY-FIVE AND 25/100 DOLLARS
B. Labor and Material Bond: On-site: $ 41,227.25
Off-site: $ 32,085.25
FORTY-ONE THOUSAND TWO HUNDRED TWENTY-SEVEN AND 25/100 DOLLARS
THIRTY-TWO THOUSAND EIGHTY-FIVE AND 25/100 DOLLARS
C. Checking and Inspection Fees: $ 3,666.00
THREE THOUSAND SIX HUNDRED SIXTY-SIX AND 00/100 DOLLARS
D. Development Maintenance Deposit
ONE THOUSAND AND 00/100 DOLLARS
$ 1,000.00
E. Storm Drainage Fee: N/A
F. One Year Power Cost: N/A
G. Street Trees: By Developer
H. Map Checking Fee: N/A
I. Park Fee: N/A
J. Water Main Reimbursement: N/A
K. Maps and/or Improvement Plans: As specified in
Item #21 of agreement