CC Resolution No. 08-145 Improvement Agreement, Villa Serra ApartmentsRESOLUTION NO. 08-145
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
AUTHORIZING EXECUTION OF AN [MPROVEMENT AGREEMENT
BETWEEN THE CITY AND DEVELOPER, VILLA SERRA APARTMENTS, A
CALIFORNIA LIMITED PARTNERSHIP, 20800 AND 20900 HOMESTEAD ROAD,
APN(S) 326-09-056, 326-09-029, 326-09-047, AND 326-09-048
WHEREAS, there has been presented to the City Council a proposed improvement
agreement between the City of Cupertino and Developer, Villa Serra Apartments, a California
Limited Partnership, 20800 and 20900 Homestead -Road, APN(s) 326-09-056, 326-09-029, 326-
09-047, and 326-09-048 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 3rd day of November 2008, by the following vote:
Vote
Members of the C~ Council
AYES: Sandoval, Mahoney, Santoro,
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
_~
City Clerk
Wang, Wong
APPROVED:
~v V11 ~~
MayorMayor, City of Cupertino
Resolution No. 08-145
Page 2
EXHIBIT "A"
SCHEDULE OF BOND, FE:ES, AND DEPOSITS
DEVELOPMENT: Villa Serra Apartments, a California Limited Partnership
LOCATION: 20800 and 20900 Homestead Road
APN(s) 326-09-056, 326-09-029, 326-09-047, and 326-09-048
A. Faithful Performance Bond: $472,780.00
FOUR HUNDRED SEVETY-TWO THOUSAND :SEVEN HUNDRED EIGHTY AND 00/100
DOLLARS
B. Labor and Material Bond: $472,780.00
FOUR HUNDRED SEVETY-TWO THOUSAND SEVEN HUNDRED EIGHTY AND 00/100
DOLLARS
C. Checking and Inspection Fee: $23,639.00
TWENTY-THREE THOUSAND SIX-HUNDRED THIRTY-NINE AND 00/100 DOLLARS
D. Development Maintenance Deposit:
TWO THOUSAND AND 00/100 DOLLARS
$2,000.00
E. Storm Drainage Fee: Basin 2 $35,424.66
THIRTY-FIVE THOUSAND FOUR HUNDRED TWENTY-FOUR AND 66/100 DOLLARS
F. Street Light -One-Year Power Cost:
G. Map Checking Fee:
H. Park Fee: ZONE III
I. Reimbursement Fee
N/A
N/A
N/A
N/A