HomeMy WebLinkAboutReso 137-01 Lin AI CentralPkwyRESOLUTION NO. 137 - 01
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
ACCEPTING IMPROVEMENTS ON CENTRAL PARKWAY, KEEGAN STREET
AND DUBLIN BOULEVARD AND APPROVING REGULATORY
TRAFFIC CONTROL DEVICES WITHIN THE INSTALLED IMPROVEMENTS
WHEREAS, on March 21, 2000, the Council approved an Improvement Agreement and Right of
Entry for Central Parkway, Keegan Street (Collector B) and Dublin Boulevard with Chang Su 0 Lin
(Jennifer Lin), Frederic Lin and Kevin Lin; and
WHEREAS, the Lins provided security in the form of a Letter of Credit from the Bank of America
in the amount of $6,013,500 to secure the improvements to be constructed, consisting of Central Parkway
from Tassajara Road east to Collector B (in Dublin Ranch Area G), Keegan Street (Collector B) south to
the extension of Dublin Boulevard, & Dublin Boulevard from that point west to Tassajara Road ("Loop
Road"); and
WHEREAS, the improvements to be constructed pursuant to the Improvement Agreement have
been completed to the satisfaction of the Public Works Director and are ready to be accepted; and
WHEREAS, it is appropriate to reduce the amount of the security to 25% of improvement cost
less material cost for the one-year guarantee period required by the Improvement Agreement; and
WHEREAS, the Developer has submitted a maintenance Letter of Credit in the amount of security
agreed to 25% of improvement cost less material cost ($1,002,250) for the one-year guarantee period by
the Improvement Agreement;
NOW, THEREFORE BE IT RESOLVED, the City Council of the City of Dublin hereby resolves:
That the improvements constructed pursuant to the Improvement Agreement and Right of
Entry for Central Parkway, Keegan Street and Dublin Boulevard are hereby accepted;
That the traffic regulatory devices installed by the developer are hereby included in the
City of Dublin Traffic Code, which regulatory devices are as follows:
Ao
Central Parkway and Dublin Boulevard are designated as "Through Streets."
(Traffic Code Chapter 6.08),
All-way stop intersections are designated at Keegan Street and Dublin Boulevard
and at Central Parkway and Keegan Street (Traffic Code Section 6.16.010);
o
The maintenance bond in the sum of $1,002,250 to secure the Lins' (accountee's)
obligations to maintain the improvements constructed pursuant to the Improvement
Agreement and Right of Entry for Central Parkway, Keegan Street (Collector B) and
Dublin Boulevard for a one-year period is hereby accepted.
PASSED, APPROVED AND ADOPTED this 7th day of August, 2001 by the following vote:
AYES:
Councilmembers Lockhart, McCormick, Oravetz, Zika and Mayor Houston
NOES: None
AB SENT: None
ABSTAIN: None
ATTEST:
K2/G/8-7-01/reso-ai-keegan.doc (Item 4.12)
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