HomeMy WebLinkAboutReso 148-14 Positano Croak Rd Extension RESOLUTION NO. 148 - 14
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
ACCEPTANCE OF IMPROVEMENTS FOR THE
POSITANO PARKWAY/ CROAK ROAD EXTENSION; APPROVAL OF REGULATORY
TRAFFIC CONTROL DEVICES; AND APPROVAL OF IMPROVEMENTS WITHIN THE
FUTURE FALLON VILLAGE GHAD PARCEL FOR PARCEL MAP 10049, POSITANO/
FALLON VILLAGE NEIGHBORHOODS D AND E (BRADDOCK & LOGAN)
WHEREAS, Dublin RE Investors, LLC, a California Limited Liability Company, by
Braddock and Logan Services, Inc., a California Corporation, Its Manager (Braddock & Logan),
the developer of PM 10049, previously entered into a Tract Improvement Agreement, dated July
11, 2011, City Council Resolution No. 113-11, with the City of Dublin to complete improvements
along Positano Parkway and Croak Road with Parcel Map 10049, in accordance with plans and
specifications on file with the City Engineer; and
WHEREAS, the developer originally provided Faithful Performance and Labor &
Materials Bonds, each in the amount of $3,001,416.00 (Bond No. 723868S) issued by Insco
Insurance Services, Inc., to guarantee said improvements; and
WHEREAS, the developer previously completed more than 80% of the required
improvements in accordance with said plan, to the satisfaction of the City Engineer; and
WHEREAS, the original Faithful Performance Bond and Labor and Materials Bond were
previously reduced by City Council Resolution No. 8-14 on February 4, 2014 to $750,354.00
each, equal to 25% of the original bond amounts, to guarantee the installation of the remaining
improvements; and
WHEREAS, the improvements are now complete in accordance with said plans, and any
approved modifications thereto, to the satisfaction of the City Engineer; and
WHEREAS, certain traffic regulatory devices have been installed as part of the tract
improvements; and
WHEREAS, the Faithful Performance Bond and Labor & Materials Bond can be
released, in accordance with the authority contained in §66499.7 of the Government Code of
the State of California, and replaced with a Warranty Bond to guarantee the completed work for
a one-year period; and
WHEREAS, Braddock and Logan Services, Inc. has provided a Warranty Bond in the
amount of $750,354.00, issued by Insco Insurance Services, Inc., to guarantee the
improvements for a one-year period.
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NOW, THEREFORE, BE IT RESOLVED that:
1. The tract improvements at Positano Parkway and Croak Road, Neighborhoods D
and E (Phase 2 Backbone Improvements), required with Parcel Map 10049 are
hereby accepted subject to a one-year guarantee period.
2. The landscape improvements within the future Fallon Village GHAD Parcel, Parcel
2 of Parcel Map 10049, are hereby approved.
3. The submitted Warranty Bond issued by Insco Insurance Services, Inc., in the
amount of $750,354.00 (Bond No. 723868M) for the improvements at Positano
Parkway and Croak Road required with Parcel Map 10049, be accepted as
security for the aforesaid one-year period, said period to commence on this date
and terminate on the 19th day of August, 2015.
4. The Faithful Performance Bond issued by Insco Insurance Services, Inc., (Bond
No. 723868S with bond reduction rider) in the amount of $750,354.00, for the
improvements at Positano Parkway and Croak Road be released.
5. The Labor & Materials Bond issued by Insco Insurance Services, Inc., (Bond No.
723868S with bond reduction rider) in the amount of $750,354.00, for
improvements at Positano Parkway and Croak Road be released in accordance
with the requirements of §66499.7 of the Government Code of the State of
California.
6. 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 installed at the following intersections:
• Positano Parkway and East Cantara Drive
• Positano Parkway and Avanti Avenue
• Positano Parkway and Croak Road
• Croak Road and South Terracina Drive
B. "NO PARKING" signs installed along north and south sides of Positano
Parkway from La Strada Drive to Croak Road.
C. "25 MPH" signing at north side of Positano Parkway between Croak Road
and Avanti Avenue
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PASSED, APPROVED AND ADOPTED this 19th day of August, 2014, by the following
vote:
AYES: Councilmembers Biddle, Gupta, Hart, Haubert, and Mayor Sbranti
NOES: None
ABSENT: None
ABSTAIN: None
iL1Li
Mayor
ATTEST:
City Clerk
Reso No. 148-14,Adopted 8-19-14, Item 4.3 Page 3 of 3