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6.3. D. - Page 2 <br /> Oracle Corporation is the sole owner of property adjacent to Oracle Parkway. Oracle <br /> Corporation has expressed a desire for and support of stop sign installations in writing <br /> to the city. <br /> Stop sign installations are permanent. Once installed, stop signs should not be <br /> removed because of the potential for confusion. There are some negative impacts <br /> associated with stop sign installation including increased braking and accelerating by <br /> vehicles and increased travel times. If approved, installation of the new stop signs will <br /> begin within three weeks. <br /> ALTERNATIVES <br /> Council may choose to not approve the installation of the proposed stop signs, and <br /> direct staff to investigate other options to address community concerns. <br /> FISCAL IMPACT <br /> The cost of stop sign installation is approximately $2,500.00 per location. Funds are <br /> available for this purpose from the Gas Tax Construction Fund — Traffic Calming which <br /> has an available balance of $196,174.69 as of August 4, 2011. Minor maintenance <br /> costs will be incurred in future years. <br /> ENVIRONMENTAL REVIEW <br /> As the lead agency, City of Redwood City has determined that the installation of stop <br /> signs on Oracle Parkway at approaches to Oracle Building No. 500 and No. 600 meet <br /> the California Environmental Quality Act (CEQA) exemption criteria as set forth in <br /> Section 15301, ("Existing Facilities"). Furthermore, this project has been designed <br /> compliant with the city's standards and the Manual of Uniform Traffic Control Devices. <br /> � i <br /> � � <br /> S. PETER VORAMETSANTI, PE <br /> ACTING CDD MANAGER, CITY ENGINEER <br /> / r � <br /> E�./ _ <br /> BILL EKERN <br /> COMMUNITY DEVELOPMENT DIRECTOR <br /> �• ' � <br /> ROBERT B. BELL <br /> CITY MANAGER <br /> ATTACHMENTS <br /> 1. Resolution <br /> 2. Location Map <br />