CC Resolution No. 9962RESOLUTION NO. 9962
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
AUTHORIZING EXECUTION OF IMPROVEMENT AGREEMENT
BETWEEN THE CITY AND DEVELOPER SNK ARIOSO L. P.,
TRACT 8980, WEST SIDE OF WOLFE ROAD ~ PRUNERIDGE
AVENUE-TANDEM SITE
WHEREAS, there has been presented to the City Council a proposed
improvement agreement between the City of Cupertino and developer SNK Arioso L. P.,
for the installation of certain municipal improvements within Tract 8980, west side of
Wolfe Road ~ Pnmeridge Avenue, 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 15* day of September, 1997, by the following vote:
Vote
Members of the Ci_ty Council
AYE S:
NOES:
ABSENT:
ABSTAIN:
Burnett, Chang, Dean, Sorensen, Bautista
None
None
None
ATTEST:
APPROVED:
Resolution No. 9962
Page 2
WHEREAS, pursuant to the provisions of this AGREEMENT, the CITY hereby
established the mounts of bonds, fees, and deposits as set forth in the following
schedule:
SCHEDULE OF BOND, FEES AND DEPOSITS
A. Faithful Performance Bond: $784,800.00
SEVEN HUNDRED EIGHTY-FOUR THOUSAND EIGHT HUNDRED & 00/100 DOLLARS
B. Labor and Material Bond: $784,800.00
SEVEN HUNDRED EIGHTY-FOUR THOUSAND EIGHT HUNDRED & 00/100 DOLLARS
C. Checking and Inspection Fee: $ 39,240.00*
THIRTY-NINE THOUSAND TWO HUNDRED FORTY AND 00/100 DOLLARS
D. Indirect City Expenses:
E. Development Maintenance Deposit:
THREE THOUSAND AND 00/100 DOLLARS
F. Storm Drainage Fee:
N/A
$ 3,000.00*
$ 20,134.00'
TWENTY THOUSAND ONE HUNDRED THIRTY-FOUR AND 00/100 DOLLARS
G. One Year Power Cost: N/A
H. Street Trees: By Developer
I. Map Checking Fee: $ 232.00*
TWO HUNDRED THIRTY-TWO AND 00/100 DOLLARS
J. Park Fee:
SIX HUNDRED
DOLLARS
K.
L.
Zone III $651,240.00'
FIFTY-ONE THOUSAND TWO HUNDRED FORTY AND 00/100
Water Main Reimbursement Fee:
Maps and/or Improvement Plans:
* Abandonment of Becker Lane:
N/A
As specified in
Item #23 of agreement
8901 sq. ft.*$3.00/sq, ft. = $26,703.00*64% = $17,089.92'
To be paid by escrow #01088775-4 per escrow instruction.