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HomeMy WebLinkAboutTM 28818-4 - Release CD - Marriott Ownership Rsrt .,F�, �_, �, CITY OF PALM DESERT PUBLIC WORKS DEPARTMENT STAFF REPORT REQUEST: Release the Certificate of Deposit for Marriott Ownership Resort (Tract Map 28818-4) in the Amount of$6,763 SUBMITTED BY: Mark Greenwood, P.E., Director of Public Works APPLICANT: Marriott Ownership Resort, Inc. 7400 Shadow Ridge Road Palm Desert, CA 92260 CD Number: 0012007349 Palm Desert National Bank 73-745 EI Paseo Palm Desert, CA 92260 DATE: March 12, 2009 CONTENTS: CD Vicinity Map Recommendation: By Minute Motion, release the Certificate of Deposit (CD) for Marriott Ownership Resort (Tract Map 28818-4) in the amount of$6,763. Discussion: Tract Map 28818-4 is located within the Marriott Shadow Ridge project east of Monterey Avenue between Gerald Ford Drive and Frank Sinatra Drive. At the time of grading permit issuance, Marriott Ownership Resort, Inc., submitted a CD in the amount of $6,763 for on-site grading. All grading is complete for this phase, has been inspected, and found to be acceptable. The normal one-year maintenance bond is not required because a year has passed since the completion of grading. Staff Report Release the CD for Marriott Ownership Resort, TR 28818-4 in the Amount of$6,763 Page2of2 March 12, 2009 Therefore, staff recommends that City Council authorize the City Clerk to release the CD for Marriott Ownership Resort, TR 28818-4, in the amount of$6,763. Submitted By: Depart ent ead: * �; YI�V 1 � � - ���'l'(/�'�' t Christina Canales Mark Gr nwood, P. . Assistant Engineer Director of Public Works Approv . omer Croy Pau S. Gibson ACM for De el ment Services Finance Director � �= CITY COUNCILACTIO� J ohlmuth AQPtzOv�;n ✓ _ [��?���;Ea _�__ i Manager Ri:CI�.IVEi) (s�����,;�� _._____ MEF,'I'ING llATE � a-L� AYFS: � � �? ��e, �'.- __.._ /cc NOFs: Nnn� - _ A[3SENT: F'� � ABSTAIN:��_ �- v�:R�Ftrn t�v: �R-.�+�-1 ��i Originai on Fi1e with City Clerk's Of#ice G:IPubWorkslStaff Reports120091March 12105 Release CD for Marriott TR 28818-41SR TR 28818-4 Bond Release(Marriott).docx , ,:. �:,.: ; , � m �r�i � � �> � '�, � � p a. ' CiS `cr] � .�'. ; ,. ' � '� c� t�. A � � �. ; �r1 �U p ;� e`) ;� ::. ; t,�` M ,.� :: a � � � o °o , o � EJ,� � � �.�, c,r fl3 `' . o � . � F... p W � ' �' L�[ � Q � � � L3C � �: : E�E a � � o Q Q � � � � � � i . • '� , c�. t.,.a. .. � `r� '� z � �� y�,� � .z o�s. �.' Q ��. � � � . . � .. � - :� �E.�.. ..w. .: � . .�, : L] :, � � "�ui .�? 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