Resolution No. _____________

Board of Supervisors, County of San Mateo, State of California

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Resolution Authorizing Execution of Agreements for the Construction of On-Site and Off-Site Improvements Associated with the Palomar Oaks Subdivision, Redwood City Area

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RESOLVED, by the Board of Supervisors of the County of San Mateo, State of California, that

WHEREAS, the Director of Public Works has recommended that agreements be entered into with Aegis Land and Investment Company/Cinnamon Forest, developer of the Palomar Oaks Subdivision at 1520 Edgewood Road, for construction of on-site and off-site improvements to serve the proposed lots in the subdivision and to mitigate for traffic impacts along Edgewood Road; and

WHEREAS, performance of the required on-site improvement work has been secured by a Faithful Performance Bond in the amount of $962,000 and a Payment Security Bond in the amount of $481,000 to secure payment for labor and materials has been filed with the Director of Public Works; and

WHEREAS, security in the amount of $481,000 shall be filed with the Director of Public Works to guarantee and warranty the work for one year following the completion and acceptance of the on-site improvements; and

WHEREAS, performance of the required off-site improvement work has been secured by a Faithful Performance Bond in the amount of $246,000 and a Payment Security Bond in the amount of $123,000 to secure payment for labor and materials has been filed with the Director of Public Works; and

WHEREAS, security in the amount of $123,000 shall be filed with the Director of Public Works to guarantee and warranty the work for one year following the completion and acceptance of the off-site improvements; and

WHEREAS, an Inspection Deposit has been paid to the Department of Public Works to cover the actual costs incurred by the County for regular and final inspections of the subdivision improvements in accordance with the County of San Mateo Subdivision Regulations; and

WHEREAS, this Board has considered the agreements and the recommendation of the Director of Public Works; and

WHEREAS, this Board concurs in the recommendation of the Director of Public Works.

NOW THEREFORE, IT IS HEREBY DETERMINED AND ORDERED that said Agreements by and between the County of San Mateo and Aegis Land and Investment Company/Cinnamon Forest, are hereby approved, and the President of this Board is hereby authorized to execute the agreement and the Clerk of the Board shall attest to the President’s signature thereto.

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