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THE CITY OF <br />i <br />-° N , • -,_ -_"'- CITY COUNCIL AGENDA REPORT <br />~L£~S~4NTONo <br />March 18, 2008 <br />Public Works Department <br />TITLE: CONSIDERATION OF RETENTION OF BOND FROM PONDEROSA <br />HOMES FOR INTERSECTION IMPROVEMENTS AT BERNAL AVENUE <br />AND FIRST STREET/SUNOL BOULEVARD <br />SUMMARY <br />Ponderosa Homes was required to construct improvements at the intersection of Bernal <br />Avenue-First Street-Sunol Boulevard as a condition of the Busch Road development. <br />The initial design for the intersection improvements was completed in 2004, but <br />construction was placed on hold. Ponderosa Homes has requested City Council <br />direction on the project and a return of the bond if the project is not moving forward. <br />RECOMMENDATION <br />Staff recommends that the City Council retain the bond to guarantee the installation of <br />the intersection improvements in the future. <br />FINANCIAL STATEMENT <br />The bond for this improvement is $198,700.00. Return of the bond would require that <br />City funds be used to construct the intersection improvements in the future. <br />