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THE CITY OF 9 <br /> CITY COUNCIL AGENDA REPORT <br /> pL£ASANTO\ <br /> August 21 , 2018 <br /> Engineering <br /> TITLE: ACCEPT 90 PERCENT OF THE PUBLIC IMPROVEMENTS FOR TRACT <br /> 7968 LOCATED AT 4171 and 4189 OLD STANLEY BOULEVARD <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 Boulevard. The <br /> property is located as shown on Attachment 1 . The developer, Kontech USA, Inc., has <br /> completed approximately 90 percent of the subdivision improvements. They have now <br /> requested partial release of the improvement security that they provided in the form of a <br /> cash deposit. Staff concurs that approximately 90 percent of the improvements are <br /> complete and ready for acceptance pursuant to the Subdivision Map Act, and concurs <br /> with the request to release 90 percent of the security cash deposit. <br /> RECOMMENDATION <br /> Accept 90 percent of the public improvements constructed with Tract 7968 for normal <br /> maintenance. <br /> FINANCIAL STATEMENT <br /> There will be a minimal increase to the budget for the maintenance of public <br /> improvements. Tax revenue generally covers the increased cost to provide services and <br /> maintain infrastructure. <br />