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<br />of the estate lot (lot 18) until the model homes are ready to be sold, To insure that the <br />parking lot is removed and berm landscaping is completed, staff has required the <br />developer to enter into a deferred improvement agreement and post a bond in the <br />amount of $25,000, <br /> <br />RECOMMENDATION <br /> <br />The public improvements are ready for formal acceptance by the City and the developer <br />has posted the required one-year warranty bonds, Staff recommends that City Council <br />accept for formal maintenance the public improvements for Tract 7407, Bordeaux <br />Estates, which includes streets, water system, sewer system and street lighting within <br />the public right-of-way, <br /> <br />FISCAL IMPACT <br /> <br />There will be an annual increase of approximately $5,400 in anticipated maintenance <br />costs when public improvements are accepted, due to increased public roadway and <br />utility maintenance costs, <br /> <br />Respectfully submitted, <br /> <br />~ (;:) fL. <br /> <br />Rob Wilson <br />Director of Public Works <br /> <br />~~ <br /> <br />DaVId P. Culver <br />Director of Finance <br /> <br />7~3 <br /> <br />Steve Bocian <br />Assistant City Manager <br /> <br />Attachments: Vicinity Map <br /> <br />SR 06:212 <br />Page 3 of 3 <br />