Laserfiche WebLink
3 THE CITY OF <br /> rim ... __. CITY COUNCIL AGENDA REPORT <br /> pLEASANTON. <br /> May 5, 2020 <br /> Engineering <br /> TITLE: ACCEPT PUBLIC IMPROVEMENTS FOR TRACT 7968, LOCATED AT <br /> 4171 AND 4189 OLD STANLEY BLVD. <br /> SUMMARY <br /> PUD-82 created 13 lots for single-family homes and a private street on an <br /> approximately 1.2-acre site located at 4171 and 4189 Old Stanley Blvd. On August 21, <br /> 2018, City Council accepted 90 percent of the improvements pursuant to the <br /> Subdivision Map Act and granted the developer's request to release 90 percent of the <br /> improvement security cash deposit from a total of$747,300. All public improvements <br /> are now complete and ready for acceptance. The remaining security cash deposit <br /> submitted by the developer, Kontech USA, Inc. (Kontech), in the amount of$74,730 will <br /> be released following the acceptance of all public improvements and 30 days after the <br /> Notice of Completion is filed. <br /> RECOMMENDATION <br /> 1. Accept the public improvements constructed for Tract 7968 for normal maintenance <br /> and authorize the City Clerk to file a Notice of Completion. <br /> 2. Release the $74,730 cash deposit to Kontech 30 days after the Notice of Completion <br /> is filed. <br /> FINANCIAL STATEMENT <br /> There will be a minimal increase to city expenses for the maintenance of public <br /> improvements. Tax revenue and utility fees generally cover the increased cost to <br /> provide services and maintain infrastructure. <br />