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Home My WebLink AboutItem 4.02 Sorrento East Accpt Imp Tr 7651or 19 82 /ii � 111 DATE: TO: FROM: STAFF REPORT CITY COUNCIL July 17, 2012 Honorable Mayor and City Councilmembers Joni Pattillo City Manager""' CITY CLERK File #600 -60 SUBJECT: Acceptance of Improvements for Tract 7651, Sorrento East (SR Structured Lot Options 1 LLC) and Approval of Regulatory Traffic Control Devices Prepared by Mark Lander, City Engineer EXECUTIVE SUMMARY: SR Structured Lot Options I LLC (Regent) has constructed the tract improvements for Tract 7651 Sorrento East in accordance with the Improvement Agreement for Tract 7651. It is now appropriate for the City to accept these improvements and approve the regulatory traffic control devices. FINANCIAL IMPACT: SR Structured Lot Options I LLC has previously posted a letter of credit provide by U.S. Bank National Association (Irrevocable Standby Letter of Credit No. SLCWMIL0295), in the amount of $50,000 to guarantee completion of erosion control improvements associated with Tract 7651. Erosion control measures are no longer needed and the developer will leave the letter of credit in place for one year in lieu of posting a warranty bond. The City will incur annualized maintenance costs for these improvements, estimated to be $6,989 for street sweeping, and street lighting (monthly), slurry seal (every five years) and asphalt concrete pavement overlay (every 20 years). The median island and planter strip landscaping on Palermo Way will be maintained by the Sorrento East Master Homeowner's Association. RECOMMENDATION: Staff recommends that the City Council adopt the Resolution Accepting Improvements for Tract 7651 and Approving Regulatory Traffic Control Devices. Submitted By Director of Public Works Reviewed By Assistant City Manager Page 1 of 3 ITEM NO. 4.2 DESCRIPTION: SR Structured Lot Options I LLC entered into an Improvement Agreement with the City of Dublin on July 15, 2008, for the construction of street and other tract improvements associated with Tract 7651 (City Council Resolution No. 132 -06), encompassing the Sorrento East development in Dublin Ranch. These improvements included grading of the Kolb Elementary School site and construction of a portion of Palermo Way to provide access to the school (Attachment 1). SR Structured Lot Options provided irrevocable letters of credit to guarantee construction of the improvements as outlined below: PERFORMANCE IMPROVEMENTS AMOUNT/ STATUS (BOND #) Tract Improvements $1,342,000 SLCWM I L02594 Released 10/06/09 Erosion Control $50,000 SLCWMIL02595 To Be Retained The purpose of the Tract 7651 improvements was to provide access to the Kolb Elementary School on Palermo Way. The school construction, originally planned for 2009, was postponed until 2011 by the Dublin Unified School District due to slower population growth during the economic recession. The street improvements had been started by the developer in 2009 and substantially completed that year; however, the City had no desire for the improvements to be completed and accepted as a public street until the school was completed. The developer agreed to enter into a separate agreement with DUSD to complete the street prior to the school construction being completed. The City agreed to release the tract improvement security in the amount of $1,342,000 on October 6, 2009 (City Council Resolution No. 136 -09), and retained the smaller $50,000 erosion control security until full completion of the improvements. Construction of the elementary school was completed in 2011; the developer completed the remaining improvements to Palermo Way and the street is now open to serve the school. The developer has requested that the street formally be accepted by the City. The $50,000 security for erosion control is no longer needed for that purpose and the developer has requested that the City retain the security for twelve months as a warranty guarantee in lieu of posting a warranty bond. Staff concurs with this request, since the street has been in service for almost a full year and any construction defects would have likely become apparent by now. The access to Kolb Elementary School is currently limited to the Palermo Way/ Lockhart Street Intersection, since Palermo Way is gated at the easterly end of the street. Once the street is accepted as a public street, it will be possible (with permission of the remaining Sorrento East developers) to open Palermo Way west to Grafton Street, providing two points of access to the school when it reopens in August. The following regulatory traffic control devices will be accepted and approved as part of this project and added to the City of Dublin Traffic Code: Page 2 of 3 A. STOP signs and markings and crosswalk have been installed at the following intersections: • Lockhart Street and Palermo Way (Four -Way Stop and Crosswalk) NOTICING REQUIREMENTS /PUBLIC OUTREACH: A copy of this staff report has been sent to SR Structured Lot Options. ATTACHMENTS: 1. Reduced Copy of Tract 7651 2. Resolution for the Acceptance of Tract Improvements for Tract 7651 and Approval of Regulatory Traffic Control Devices Page 3 of 3 -JYaa Map 7(D51 map 6K 303 Fp 7�-Fj zx 5, V. EET E -v z oa io 'T, Pa UP Vw zt - -z, % 4 °w F� § i § g iE iE �-z WPM EV of °$:. z 80 H it Hr 1z4 -.1 il: W31:49* �60 "PHI I HH. 21 171' ge ? K-1 0 9 -Bis In Ha '6L 1.. -. 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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) PASSED, APPROVED AND ADOPTED this 17th day of July, 2012, by the following AYES- 1 NOES: ABSENT: ABSTAIN: ATTEST: City Clerk Mayor