CC Resolution No. 04-360
RESOLUTION NO. 04-360
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
AUTHORIZING EXECUTION OF IMPROVEMENT AGREEMENT
BETWEEN THE CITY AND DEVELOPERS, ROYAL REALTY AND HOMECOMERS RRC
INC" 22800 MERCEDES ROAD, APN 342-33-045
WHEREAS, there has been presented to the City Council a proposed improvement
agreement between the City of Cupertino and developer, Royal Realty and Homecomers RRC
Inc" for the installation of certain municipal improvements at 22800 Mercedes Road and said
agreement having been approved by the City Attorney, 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 I9h day of July 2004, by the following vote:
Vote
Members 2.fthe çgy Council
AYES:
NOES:
ABSENT:
ABSTAIN:
James, Kwok, Lowenthal, Sandoval, Wang
None
None
None
ATTEST: .
~~
City Clerk
APPROVED:
Resolution No. 04-360
Page 2
EXHIBIT "A"
SCHEDULE OF BOND, FEES, AND DEPOSITS
DEVELOPMENT:
Royal Realty and Homecomers RRC Inc,
LOCATION:
22800 Mercedes Road
APN 342-33-045
A, Faithful Performance Bond:
FOURTEEN THOUSAND FIVE HUNDRED AND 00/100 DOLLARS
$ 14,500,00
B, Labor and Material Bond:
FOURTEEN THOUSAND FIVE HUNDRED AND OO/IOO DOLLARS
$ 14,500,00
C, Checking and Inspection Fees: $ 2,385,00
TWO THOUSAND THREE HUNDRED EIGHTY-FIVE AND 00/100 DOLLARS
D. Development Maintenance Deposit
ONE THOUSAND AND 00/100 DOLLARS
$ 1,000,00
E, Storm Drainage Fee: $ 1,444,80
ONE THOUSAND FOUR HUNDRED FORTY-FOUR AND 801100 DOLLARS
F, One Year Power Cost:
G, Street Trees:
H, Map Checking Fee:
NA
By Developer
N/A
1. Park Fee: Zone II $15,750,00
FIFTEEN THOUSAND SEVEN HUNDRED FIFTY AND 00/100 DOLLARS
J,
Water Main Reimbursement:
N/A
K,
Maps and/or Improvement Plans:
As specified in
Item #2 I of agreement