07. Impr. Agrmnt. 10855 N. Stelling Rd.DRAFT
RESOLUTION N0.08-118
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
AUTHORIZING EXECUTION OF AN IMPROVEMENT AGREEMENT
BETWEEN THE CITY AND DEVELOPER, STEELING PALMS OF CUPERTINO,
LLC, 10855 N. STEELING ROAD, APN 326-07-037
WHEREAS, there has been presented to the City Council a proposed improvement
agreement between the City of Cupertino and developer, Stelling Palms of Cupertino, LLC,
10855 N. Stelling Road, APN 326-07-037, and said agreement having been approved by the City
Attozney, and Developers 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 19th day of August 2008, by the following vote:
Vote Members of the C~ Council
AYES:
NOES:
ABSENT:
ABSTAIN:
ATTEST:
City Clerk
APPROVED:
Mayor, City of Cupertino
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Resolution No. 08-118
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EXHIBIT "A"
SCHEDULE OF BOND, FEES, AND DEPOSITS
DEVELOPMENT: Stelling Palms of Cupertino, LLC
LOCATION: 10855 N. Stelling Road, APN 326-07-037
A. Faithful Performance Bond: $ 91,910.88
NINETY-ONE THOUSAND NINE HUNDRED TEN AND 88/100 DOLLARS
B. Labor and Material Bond: $ 91,910.88
NINETY-ONE THOUSAND NINE HUNDRED TEN AND 88/100 DOLLARS
C. Checking and Inspection Fee: $ 4;595.54
FOUR THOUSAND FIVE-HUNDRED NINETY-FIVE AND 54/100 DOLLARS
D. Development Maintenance Deposit:
TWO THOUSAND AND 00/100 DOLLARS
$ 2,000.00
E. Storm Drainage Fee: Basin 2 $ 2,550.15
TWO THOUSAND FIVE- HUNDRED FIFTY AND 15/100 DOLLARS
F. Street Light -One-Year Power Cost: N/A
G. Map Checking Fee: $7,298.00
SEVEN THOUSAND TWO-HUNDRED NINETY-EIGHT AND 00/100 DOLLARS
H. Park Fee: ZONE III $153,000.00
ONE HUNDRED FIFTY-THREE THOUSAND AND 00/100 DOLLARS
I. Reimbursement Fee
N/A
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