HomeMy WebLinkAboutRelease Scrty - Fairfield Inn Prjct - MMP Properties CITY OF PALM DESERT
PUBLIC WORKS DEPARTMENT
STAFF REPORT
REQUEST: RELEASE IMPROVEMENT SECURITY IN THE AMOUNT OF
$30,976.50 FOR OFF-SITE IMPROVEMENTS TO TECHNOLOGY
DRIVE RELATED TO THE FAIRFIELD INN
SUBMITTED BY: Mark Greenwood, P.E., Director of Public Works
APPLICANT: MMP Properties, Inc.
Jigish Shaw
1150 N. Mountain Ave, Ste. 102
Upland, CA 91786
TRUST DEPOSIT
NUMBER: 5386
DATE: September 7, 2017
CONTENTS: Trust Deposit
Maintenance Deposit
Vicinity Map
Recommendation
By Minute Motion, release improvement security in the amount of
$30,976.50 for off-site improvements to Technology Drive related to the
Fairfield Inn.
Strategic Plan Objective
This action has no impact on the Strategic Plan.
Background
The subject property is located at 74-764 Technology Drive. At the time of grading
permit issuance, a cash deposit in lieu of a faithful performance bond in the amount of
$20,651.00, and a cash deposit in lieu of a labor and materials bond in the amount of
$10,325.50 were submitted for off-site improvements for Technology Drive.
Staff Report
Release Security for Fairfield Inn
Page 2 of 2
September 7, 2017
All improvements related to this deposit are complete. A maintenance deposit in the
amount of $2,065, which is 10 percent of the cash deposit in lieu of a faithful
performance bond, was submitted for maintenance and will be held for one year as
required by the Municipal Code.
Fiscal Analysis
There is no fiscal impact associated with this action.
Prepared By: Depart t e d:
hiv'1�h ( .aec.t��
Christina Canales, Assistant Engineer Mark Gr a ood, P.E.,
Director of ublic Works
�lar�t M. Moore, Director of Finance
Approval:
Lauri Aylaian, City Manager
5386
•
CITY OF PALM DESERT
��,.. r TREASURER'S RECEIPT FOR TRUST DEPOSIT
DATE S1O5Ji LA AMOUNT t 36 q"7 Lc,`j(") _
DEPOSITOR'S NAME P D rmmP Ln C
REASON FOR DEPOSIT F&14)r LLQ P( 1'P(i17 lCtf co D��
-Pay- PP 114-25 (r t'ekd Inn
RECEIVED BY _CI • (0.4 ed
ACCOUNT NUMBER (circle one):
610-0000-228-XX-00
01 Deposit in Lieu of Bond 11 Landscape & Lighting 24 Art Essay Contest
02 Monumentation 13 Rent Review Commission 25 TUMF
03 Monterey 170 14 Candidates Deposit 34 Employee Donations
04 Grading Bond 15 Mitigation Fringe Lizard 39 PM 10 Deposit
05 Demolition Bond 16 Special Events 49 Athena Award
411) Faithful Performance Bond 17 Wine &Art Festival 5010 Community Walk
0 Misc. One-Time Deposit 21 Assessment Dist. Deposit 60 Planning Fee Deposit
08 Multi Species Mitigation 23 Median Const/Landscape
IS THE DEPOSIT REFUNDABLE? YES NO
CONDITIONS TO B MET BEFORE REFUNDING DEPOSIT?
A1- {e Q_1 R.eleia$J b Ptikilic
AMOUNT REFUNDABLE$ C) q p .5(j DATE TO BE REFUNDED
MAIL REFUND TO: m jrdedin Ave Sw 1 102
UptcLr1d , CA g1isie
FINANCE DEPARTMENT USE ONLY
DATE REFUNDED CHECK NO. AMOUNT
NOTE:ATTACH TAPE SHOWING CALCULATION OF INTEREST EARNED,IF ANY.
Doer: Ck
Date: 8/6W1S 80 keceint no: 1827
intal tendered $30976.50
Total nay.ent $30976.50
MIT PAYOR GRN•TRUST ACCT CAN ACCOUNTING PINK NUM CONTROL G ROD.ISSUING DEPT
5592
CITY OF PALM DESERT
-73p1 , TREASURER'S RECEIPT FOR TRUST DEPOSIT
DATE S/I I / 1 1 AMOUNT 2n(.c,<)
DEPOSITOR'S NAME RD WWII' I(IC .REASON FOR DEPOSIT rna.A t14"e 1W1'}C e fe TX'S1-4- POC Fare k Inn
RECEIVED BY C
ACCOUNT NUMBER(circle one):
610-0000-22.8-XX-00
CP Deposit in Lieu of Bond 11 Landscape&Lighting 24 Art Essay Contest
12 Monumentation 13 Rent Review Commission 25 TUMF
03 Monterey 170 14 Candidates Deposit 34 Employee Donations
04 Grading Bond 15 Mitigation Fringe Lizard 39 PM 10 Deposit
05 Demolition Bond 16 Special Events 49 Athena Award
06 Faithful Performance Bond 17 Wine&Art Festival 5010 Community Walk
07 Misc.One-Time Deposit 21 Assessment Dist. Deposit 60 Planning Fcc Deposit
08 Multi Species Mitigation 23 Median Const/Landscape
IS THE DEPOSIT REFUNDABLE? YES ✓ NO
CONDITIONS TO BE MET BEFORE REFUNDING DEPOSIT?
_A +rov'a.Q. b -Public IA)orKs •
AMOUNT REFUNDABLE 12 erS DATE TO BE REFUNDED
MAIL REFUND TO: 11 7 C` ki 1Y)Nrtk.in AY e , f, i02
U 1 IArlri CA 1 7%
FINANCE DEPARTMENT USE ONLY
DATE REFUNDED CHECK NO. AMOUNT
NOTE ATTACH TAPE SHOWING CALCULATION OF INTEREST EARNED,IF ANY.
Opel: CR
Date: 8/11/17 88 Receipt nois2B6157�
Total tendered 52B65.88
Total pay:lent
WHT-PAYOR GRN-TRUST ACC? CAN-ACCOUNTING PINK-NUM CONTROL G ROD-ISSUING DLPT
. . .,,;ik
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FAIRFIELD INN AT 74-764 TECHNOLOGY DRIVE '')'
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Legend
1:4,722
— Circulation Network — Streets
City Boundary 0 Parcels(0712017)
Notes