HomeMy WebLinkAboutPM 31515 - Shaw Palm Desert & University VillageCITY OF PALM DESERT
PUBLIC WORKS DEPARTMENT
STAFF REPORT
REQUEST: Release Improvement Security for PM 31515
SUBMITTED BY: Mark Greenwood, P.E., Director of Public Works
APPLICANT: Shaw Palm Desert 1, LLC &
The University Village Partnership
7400 Country Club, Suite H2
Palm Desert, CA 92211
Bonding Company
Insurance Company of the West
Bond No.: 2136868
DATE: June 14, 2007
CONTENTS: Vicinity Map
Recommendation:
By minute motion, authorize the City Clerk to release the subject
improvement security for Parcel Map 31515 in the amount of
$1,778,975.00.
Discussion:
Parcel Map 31515 is located at the southwest corner of Gerald Ford Drive and
Cook Street. At the time of grading permit issuance the subject securities were
posted with the City for grading and off -site street and landscaping
improvements.
Subsequent to the posting of security, the Community Facilities District 2005-1
(CFD) was formed. PM 31515 lies within the CFD. Because the CFD wasn't
formed at the time of grading permit issuance the developer posted security for
the entire site. An agreement with the City of Palm Desert and the CFD is now in
place to facilitate the construction of the streets and the landscaped areas that
were originally bonded by Shaw Palm Desert LLC and the University Village
Partnership, and the required securities were posted for said improvements by
the CFD.
Release Improvement Security
June 14, 2007
Page 2 of 2
All grading and off -site improvements for which the developer is responsible have
been completed. The remaining improvements are the responsibility of the CFD.
There is one-year guarantee of maintenance written into the agreement between
the CFD and their contractors.
Therefore, staff recommends releasing said security and waiving the one-year
maintenance bond.
Submitted By:
W/L'.
Mark Green •o:, P.E. Ja
Director of Public Works
Approval:
I-omer Croy
ACM for De
Carlos L. Ort
City Manage
/cc
Paul Gibson
ment Services Finance Director
CITY COUNCIL TION:
APPROVED 1 DENIED
RECEIVED OTHER
MEETING DATE (p • gLi-.C)~j
AYES: i'f15671 p.sb71 R►'le(-%t-j,6p'e ei arril K//
NOES: , r. -
ABSENT: k do) ( -
ABSTAIN: _
VERIFIED BY: gyp/ ((yam\
t)riginal on File wj)th City Clerk's Office
G:1PubWorkslLand Developmentl(PM) Parcel Maps1PM 31515106-14-07 Release Improvement Security for PM315151PM 31515-bond release.doc
44
DATE:
6/01/2007
LOCATOR MAP
PARCEL MAP 31515
0
200
FEET
400