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Mr. Roush responded that conditions would be imposed on the design review approval to make certain security is provided. Ms. Dexmis inquired what else could be done other than requiring a bond. Mr. Roush said the City could require some mount of money on deposit to provide motivation to get the project done in a timely manner. It was moved by Mr. Pico, seconded by Ms. Ayala, to: (1) accept as an informal report the audit of project conditions and agreements; (2) approve the Final Map and improvement plans for Tract 7158; (3) authorize execution of the Subdivision Agreement by the City Manager; (4) accept all parcels of land and easements as offered for dedication; (5) approve the acceptance of cash guaranties and performance bonds for outstanding mitigation items; and (6) approve the acceptance of immediate cash payment for outstanding traffic mitigation items in- lieu of a deferred improvement agreement, except for Vineyard Corridor roadway improvements, which will be covered by a deferred improvement agreement; and adding that Signature Properties post a $2 million cash bond or equivalent to guarantee the completion of the Ruby Hill winery and that that cash bond would be replaced at the time Wente or other owner of the property provides performance and payment bonds for completion of the winery; and removing the proviso that the $145,000 for the traffic signal at Ruby Hill Boulevard/Vineyard Avenue would be repaid to Signature Properties at the end of five years after the final build out of the project. The roll call vote was as follows: AYES: Councilmembers - Ayala, Dennis, Michelotfi, and Pico NOES: Mayor Tarver ABSENT: None ABSTAIN: None Mr. Roush asked if a surety bond instead of cash would be acceptable if a bonding company were willing m provide one? Mr. Pico said because staff is estimating it will be a short period of time befbre Wente can provide its bond, he felt it would be easier to have a cash deposit or letter of credit from Signature. There are 26 units in this final map and he did not feel this was an onerous requirement. He would be willing to address a modification if Signature had another option. Ms. Michelotti referred to other requirements some of which had cash and some had surety bonds. What is the difference? She was very uncomfortable asking for $2 million up ~'ont. Pleasanton City Coundil 17 10/03/00 Minutes