HomeMy WebLinkAboutReso 172-13 Sorrento West Tr 7642 Milano RESOLUTION NO. 172 - 13
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
ACCEPTANCE OF TRACT IMPROVEMENTS FOR TRACT 7642, SORRENTO WEST
NEIGHBORHOOD 1, "MILANO," (TOLL BROTHERS, INC.) AND APPROVAL OF
REGULATORY TRAFFIC CONTROL DEVICES
WHEREAS, Sorrento at Dublin Ranch I, LP, a California Limited Partnership owned by
wholly-owned subsidiaries of Toll Brothers, Inc., the developer of Tract 7642, previously entered
into a Tract Improvement Agreement dated May 16, 2006, Resolution No. 63-06, with the City
of Dublin, to complete in-tract improvements associated with Tract 7642, in accordance with
plans on file with the City Engineer; and
WHEREAS, the developer originally provided a Faithful Performance Bond and a Labor
and Materials Bond issued by Fidelity and Deposit Company of Maryland, each in the amount of
$875,000.00 to guarantee the installation of these improvements; and
WHEREAS, the original Faithful Performance and Labor and Materials Bonds, each in
the amount of $875,000.00, have been previously reduced to $219,000.00, on April 1, 2008,
Resolution No. 46-08; 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 Faithful Performance Bond and Labor and Materials Bond can be
released, in accordance with the authority contained in Section 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, Toll Brothers, Inc., has provided a Maintenance Bond in the amount of
$219,000.00 issued by Fidelity and Deposit Company of Maryland (Bond No. 08840667M) to
guarantee the improvements for a one-year period.
NOW, THEREFORE, BE IT RESOLVED that:
1. The improvements for Tract 7642 are hereby approved and accepted subject to a
one-year guarantee period; and
2. The Faithful Performance Bond issued by Fidelity and Deposit Company of
Maryland (Bond No. 08840667) originally in the amount of $875,000.00 and
reduced to $219,000.00 for the tract improvements, be released; and
3. The Labor and Materials Bond issued by Fidelity and Deposit Company of
Maryland (Bond No. 08840667) originally in the amount of $875,000.00 and
reduced to $219,000.00 for the tract improvements, be released; and
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4. The submitted Maintenance Bond in the amount of $219,000.00 (Bond No.
08840667M) issued by Fidelity and Deposit Company of Maryland, for the Tract
7642 improvements, be accepted as security for the aforesaid one-year warranty
period, said period to commence on this date and terminate on the 15th day of
October, 2014; and
5. 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. "25 MPH" sign at north side of Rimini Lane west of the intersection of Grafton
Street
B. Left Curve - 20 MPH warning sign at north side of Rimini Lane near Station
12+40
C. "STOP" sign and crosswalk markings at Perugia Street at the intersection of
Rimini Lane
PASSED, APPROVED AND ADOPTED this 15th day of October, 2013, by the following
vote:
AYES: Councilmembers Gupta, Hart, Haubert, and Mayor Pro Tem Biddle
NOES: None
ABSENT: Mayor Sbranti
ABSTAIN: None
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Mayor Pro Tern
ATTEST:
i G� r
City Clerk
Reso No. 172-13,Adopted 10-15-13, Item 4.3 Page 2 of 2