CC Resolution No. 9675 RESOLUTION NO. 9675
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
AUTHORIZING EXECUTION OF IMPROVEMENT AGREEMENT
BETWEEN THE CITY AND DEVELOPER FORGE-HOMESTEAD
LIMITED, HOMESTEAD ROAD AT FRANCO COURT
WHEREAS, there has been presented to the City Council, a proposed
improvement agreement between the City of Cupertino and developer Forge-Homestead
Limited, for the installation of certain municipal improvements on Homestead Road at
Franco Court, 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 5th day of August, 1996, by the following vote:
Vote Members of the City Council
AYES: Bautista, Chang, Dean, Sorensen, Burnett
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST: APPROVED:
Ci~~ s?~a~ C~~upe~no~
Mayor, City of
EXHIBIT A
SCHEDULE OF BOND, FEES AND DEPOSITS
DEVELOPMENT: Apartments
Forge-Homestead Limited
LOCATION: Homestead Road at Franco Court
A. Faithful Performance Bond: $198,405.00
ONE HUNDRED NINETY-EIGHT THOUSAND FOUR HUNDRED FIVE & 00/100 DOLLARS
B. Labor and Material Bond: $198,405.00
ONE HUNDRED NINETY-EIGHT THOUSAND FOUR HUNDRED FIVE & 00/100 DOLLARS
C. Checking and Inspection Fee: $ 3,320.25
THREE THOUSAND THREE HUNDRED TWENTY & 25/100 DOLLARS
D. Indirect City Expenses: N/A
E. Development Maintenance Deposit: $ 3,000.00
THREE THOUSAND & 00/100 DOLLARS
F. Storm Drainage Fee: Basin 3 $ 2,667.34
TWO THOUSAND SIX HUNDRED SIXTY-SEVEN & 34/100 DOLLARS
G. One Year Power Cost: 225.00
TWO HUNDRED TWENTY-FIVE & 00/100 DOLLARS
H. Street Trees: By Developer
I. Map Checking Fee: N/A
J. Park Fee: Zone I $383,179.89
Acct #: 480-416-011
THREE HUNDRED EIGHTY-THREE THOUSAND ONE HUNDRED SEVENTY-NINE & 89/100 DOLLARS
K. Water Main Reimbursement Fee: N/A
L. Maps and/or Improvement Plans: As specified in
Item 23 of
Agreement
TRAFFIC LIGHT REIMBURSEMENT: $ 21,420.00