HomeMy WebLinkAboutReso 122-12 Sorrento East Traffic Control Device RESOLUTION NO. 122 - 12
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
ACCEPTANCE OF IMPROVEMENTS FOR TRACT 7651, SORRENTO EAST (SR
STRUCTURED LOT OPTIONS 1 LLC) AND APPROVAL OF REGULATORY TRAFFIC
CONTROL DEVICES
WHEREAS; SR Structured Lot Options 1, LLC„ the developer of Tract 7651, previously
entered into an Improvement Agreement dated July 15, 2008, Resolution No. 132-08, with the
City of Dublin, to complete improvements associated with Tract 7651, in accordance with plans
on file with the City Engineer; and
WHEREAS, the developer provided letters of credit in the amounts of $1 ,342,000 (U.S.
Bank National Association Irrevocable Letter of Credit No. SLCWMIL0294) for improvements
and $50,000 (U.S. Bank National Association, Irrevocable Letter of Credit No. SLCWMIL0295)
for erosion control, as security to guarantee the installation of these improvements; and
WHEREAS, the improvements are complete in accordance with said plans, and any
approved modifications thereto, to the satisfaction of the City Engineer, and
WHEREAS, the letter of credit for improvements in the amount of $1,342,000 was
previously released by City Council Resolution No. 136-09 on October 6, 2009; and
WHEREAS, SR Structured Lot Options 1 LLC, has agreed that the City of Dublin can
retain the letter of credit for erosion control in the amount of $50,000 to guarantee the
improvements for a one-year period.
NOW, THEREFORE, BE IT RESOLVED that:
1. The in-tract improvements for Tract 7651 are hereby approved and accepted
subject to a one-year guarantee period.
2. The traffic regulatory devices installed by the developer within the development
are hereby included in the City of Dublin Traffic Code, said regulatory devices to
include the following:
A. STOP signs and markings have been installed at the following
intersections:
• Lockhart Street and Palermo Way (Four-Way Stop and Crosswalks)
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•
PASSED, APPROVED AND ADOPTED this 17th day of July, 2012, by the following
vote:
AYES: Councilmembers Biddle, Hart, Swalwell, and Mayor Sbranti
• NOES: None
ABSENT: Councilmember Hildenbrand
ABSTAIN: None /kick
ATTEST: Mayor
6 Pc.-
City Clerk
Reso No. 122-12,Adopted 6-17-12, Item 4.2 Page 2 of 2