HomeMy WebLinkAboutRelease Impvmt Security PP 06-11 - Wachovia BankREQUEST:
SUBMITTED BY:
APPLICANT:
DATE:
CONTENTS:
Recommendation:
CITY OF PALM DESERT
PUBLIC WORKS DEPARTMENT
STAFF REPORT
Release the Improvement Security for PP 06-11 (Wachovia Bank) in the
Amount of $42,235, and Accept the 10 Percent Maintenance Security in
the Amount of $2,816
Mark Greenwood, P.E., Director of Public Works
CA6123 CITY COUNCILA�TION
APPROVED
RECEIVED
DENIED
OTHER
MEETING DATE
AYES. Pence Fe( asoi, Finfr-iy,-K�!/y;�Di eJ
NOES: N 11(1w
ABSENT: N
AtiN1AlN: n,r�4'.-
VERIFIED BY: % 1[4 I �G1
Original on File with City Clerk'S Office
By Minute Motion, release the improvement security for PP 06-11 (Wachovia
Bank) in the amount of $42,235, and accept the 10 percent maintenance security
in the amount of $2,816.
Discussion:
Wachovia Bank
ATTN: Margo Rouette,
15750 Alton Parkway
Irvine, CA 92618
February 26, 2009
Trust Deposit
Vicinity Map
At the time of grading permit issuance, the applicant submitted security in the form of a cash
deposit in the amount of $28,157 for faithful performance, and $14,078 for labor and materials
for grading and sidewalk improvements. All work has been completed in accordance with the
approved plans, and the work has been inspected and found to be acceptable. Maintenance
security for 10 percent of the faithful performance amount has been submitted in the form of a
cash deposit in the amount of $2,816 to be held for one year.
Therefore, staff recommends that City Council release the faithful erformance bond and accept
the maintenance security for PP 06-11.
.�I A I
Submitted By:
C)kill\5\-{ n A (Cuvv.CuC
Christina Canales
Assistant Engineer
Depalead:
Mark Green ood, P.E.
Director of ublic Works
Homer Croy Paul S. Gibson
A ces Finance Director
M for aevelop ��- ► S-
McCarthy
ity Manag
LATE
CITY OF PALM DESERT
TREASURER'S RECEIPT FOR TRUST DEPOSIT
AMOUNT. -t..
DEPOSITOR'S NAME € er *4:1,. <-41*. 44A '94
REASON FOR DEPOSIT
RECEIVED BY t
ACCOUNT NUMBER (circle one):
610-0000-228-XX-00
Deposit in Lieu of Bond
Monumentation
03 Monterey 170
Grading Bond
Demolition Bond • •
04
1•1
13
14
15
16
Faithful Performance Bond 17
7 Misc. One -Time Deposit 21
08 Multi Species Mitigation 23
A.
Landscape & Lighting 24
Rent Review Commission 25
Carididates Deposit 34
Mitigation Fringe Lizard 39
Special Events 49.
Wine & Art Festival 5010
Assessment Dist. Deposit 60
Median Const/Landscape
IS THE DEPOSIT REFUNDABLE? YES • io". • NO
CiONDMONS TO. BE MET BEFORE REFUNDING DEPOSIT?
: -L; Y1
Art Essay Contest
TUMF
Employee Donations
PM10 Deposit
Athena Award
Community Walk
Planning Fee Deposit
AMOUNT REFUNDABLE-q,2 •' DATE TO BE REFUNDED
MAIL REFUND TO: # -`tr. •••i0 '4"
• . "74:„et - • •
FINANCE DEPARTMENT USE ONLY
DATE REFUNDED CHECK NO. AMOUNT
NOTE: ATTACH TAPE SHOWING CALCULATION OF INTEREST EARNED, IF ANY.
ef,f
1;),) f4y:eipt T3P;
3,,i; Z41 t
WHT-PAYOR GRN - TRUST ACCT CAN - ACCOUNTING PINK - NUM. CONTROL G.ROD - ISSUING DEPT.
DATE:
2/6/2009
LOCATOR MAP
WACHOVIA BANK
73051 HIGHWAY 111
1 inch = 250 feet