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Add 75 feet to southbound left turn lane Lengthen to 340 feet eastbound left turn lane �asedale perimeter road transition to full left turn lane, full through lane, and a 400 foot right turn lane * County Road B2/NarthBound TH 51 Ramp 4 Optimized cycle lengths, splits and offsets The developer has hired Parsons to design the improvements. The City, State and County will work with their Engineer during construction to ensure the improvements are installed according to approved plans and City, State and County specifications. These improvements, once constructed, will be turned over to the State and County. Policy objectives: In order to facilitate this transition and ensure that the improvements are built to Public standards, we have drafted a Subdivision and Public Improvement Contract that lays out all the responsibilities involved with this proposed street improvements. Upon completion of the project, the developer's engineer must provide the City with As-built plans. They must also provide to the City Engineer a letter certifying that the improvements were constructed according to approved plans and specifications, and request that the City accept the improvements. Once the City Council accepts the improvements, the two-year warranty period starts. Financial implications: All costs associated with construction of the new public improvements necessary for this development will be borne by the Developer. Appropriate surety in the form of a Letter of Credit will be provided for all public improvements in the amount of 125% of the construction cost, $293,000 for a total of $366,250. Once the construction of the improvements has been completed and accepted by the City, this Letter of Credit will be released and replaced by a two-year warranty bond. RECOMMENDED COUNCIL ACTION: Approval of �osedale Redevelopment public improvement contract. Prepared by: Debra Bloom