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9 <br /> THE CITY OF <br /> PLE ASANTON. CITY COUNCIL AGENDA REPORT <br /> July 15, 2014 <br /> Community Development <br /> Engineering Division <br /> TITLE: ACCEPT PUBLIC IMPROVEMENTS PERFORMED BY CARONE AND <br /> COMPANY, INC. FOR THE STAPLES RANCH STONERIDGE DRIVE AND <br /> SANTA RITA ROAD INTERSECTION IMPROVEMENTS PROJECT, CIP <br /> NO. 115034 <br /> SUMMARY <br /> This project consists of roadway improvements identified in the adopted Environmental <br /> Impact Report for the Stoneridge Drive Specific Plan Amendment/Staples Ranch <br /> Project (Staples Ranch EIR) at the Santa Rita Road/Stoneridge Drive intersection, <br /> including roadway widening to accommodate free right turn lanes, new traffic signals <br /> and signage, as well as additional turn and thru traffic lanes as identified in the report <br /> and its attachments. This project also incorporated a bus stop pullout (CIP 105034) <br /> located in the project area. Construction of this project is complete and ready for <br /> acceptance by City Council. <br /> RECOMMENDATION <br /> 1. Accept the project improvements. <br /> 2. Authorize the City Clerk to file a Notice of Completion for the project. <br /> 3. Authorize payment of the retention in the amount of $53,210.21 to Carone and <br /> Company of Concord, California thirty days after the recordation of Notice of <br /> Completion. <br /> 4. Authorize the transfer of the project balance of $612,527 to the Stoneridge Drive <br /> Specific Plan Fee Reserve. <br /> FINANCIAL STATEMENT <br /> Funding for this project totaled $1,939,817 as outlined in Attachment 1. Expenditures <br /> totaled $1,327,290, leaving a balance of $612,527. Staff recommends transferring the <br /> remaining funds to the Stoneridge Drive Specific Plan Fee Reserve. <br />