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17-1220_SOUTH COAST INVESTORS II, LLC_Check Request for Deopsit ReductionCity of San Juan Capistrano CHECK REQUEST Administrative Services Department Address Check to: Name: South Coast Investors II, LLC Address: 31866 Camino Capistrano San Juan Capistrano, CA 92675 Check Amount Requested 362,898.00 Account No.: 0-00000-23302-00000-238 CHECK TOTAL:362,898.00 Invoice Number: B15-0872 Invoice Date: 5/23/2016 Check stub to contain the following: Grading Surety deposit reduction Check Requested By: Employee: Deena Berens, Development Services Department: Public Works & Utilities Date: 12/20/2017 Department Approval: Steve May, Public Works & Utilities Director_ Transmittal Instructions:pReturn Check To: Mail: 17 Other (specify) JAY lky,i p For Administrative Services Use Only Vendor Number: al, 4 35.99- Warrant Number: Date: Approved:I LY: MEMORANDUM DATE: December 12, 2017 TO: Ben Siegel, City Manager FROM: Steve May, Public Works a Ttil'ties Director I Joe Parco, City Enginee F, Hossein Ajideh, Senior Civi Enginee x v c•--` ? Prepared:Joe Mankawich,Associate Engineer t' f ti) SUBJECT: Rough Grading Cash Deposit Reduction—Plaza Banderas J' The purpose of this memo is to inform you that the developer, South Coast Investors II LLC, has substantially completed the rough grading improvements for the Plaza Banderas Hotel Site and are requesting reduction of the cash deposit for such improvements. The Grading Surety Agreement for the project provides for the City Engineer's determination of such requests. Review of the request by the Public Works & Utilities Department has resulted in the following approved reduction: Cashier's Check Obligee Description Original Princliple Percent New Number Amount Name Complete Amount City of San South Coast Rough Grading for the Plaza Banderas00099003007Juan Hotel Site 420,450.00 Investors II Capistrano LLC 86% $57,552.00 The remaining cash deposit will provide warranty for the grading performed, and insure there are adequate funds available for repairs to water quality BMP's should they be required. The holding of this security is particularly important to insure that the site is properly maintained during the upcoming winter storm season. Staff recommends holding off full release of the rough grading surety until work on the hotel structure commences. The Public Works Department will forward this request to the City Clerk for processing of a letter to the developer's surety delineating the reduction of the security. Should you have any questions please contact me. Attachments: 1. Grading Surety Agreement 2. Request for Reduction Letter 3. Rough Grading Certification 4. Rough Grading Permit Sign-off Cc: Joel Rojas,Development Services Manager Tom Toman,Assistant Public Works Director y George Alvarez, Project Manager 1‘ r,,jviCITY OF SAN JUAN CAPISTRANO 32400 Paseo Adelanto SAN JUAN CAPISTRANO, CA 92675 949)493-1171 Paid By SOUTH COAST INVESTOR: Contractor FRIESS PROPERTY INVES' 32332 CAMINO CAPISTRANO SAN JUAN CAPISTRANO CA 82675 Permit Number 815.0872 Site Address Receipt Number 50990 31892 EL CAMINO REAL Paid Date 5/23/2016 Check No 99003007 Description Payment Method CHECK Plaza Banderas Hotel-(Inn at the Mission)-Rough Gradin Fees GRADING REFUNDABLE DFPOS 90.00000-23302.00000438 420.450:00' FEE TOTAL 420,450.00 7_ Jt-..A a M1' r gay"d= % F l 1_.[ nr,1 I nit L'Ain.: l'Arn ninl 16ktrU V! f P.1)111TI,N.^.1 IYP"•t111, f U I t. 11-24 •11111/.. allies CASHIER'S CHECK 0099003007imoo) Reorittar SOUTH COAST SO/Una N.LLC Operator i - u24W70 ws014092 May 23,2015 PAY TO:ME ORDER or ***CITY OF SAN JUAN CAPISTRANO*"e Four hundred twenty thousand four hundred ffity dollars and no cents*" "$420,450.00" P.m Adams Mae i MLR FARGO BANK KA. 9 vaer aomsoco j 32212 CAMINO COAST/WV SAN JUAN CAPRMW10, MTh 11 FOR RIGWRIVI CALL MC)306-3122 r00 9900 300 Te 1: I 2 L000 248i:4136 50 5 30 3Ir 7,„ ,,77Th PI° Ji t South Coast Investors II, LLC 31866 Camino Capistrano San Juan Capistrano,CA 92675 949)496-1316 October 12, 2017 Hossein Ajideh City of San Juan Capistrano 32400 Paseo Adelanto San Juan Capistrano, CA 92675 Re: Request for 90% Release of Rough Grading Security Deposit Dear Hossein, On behalf of South Coast Investors II, LLC, I am writing to request the 90%release of our rough grading security deposit. We have received approval on our as-built rough grading plans and delta rough grading plans, submitted our geotechnical report and rough grading certification from our civil engineer, and performed a final inspection. The rough grading security deposit was in the amount of$420,450.00. The City is to keep 10%of the deposit, which amounts to$42,045.00, in addition to the following: Stabilized construction entrance $8,000.00 Inlet protection 4,000.00 Gravel bags 2,560.50 Gravel bags velocity reducer 946.50 Total: 15,507.00 Thus, the City would retain $57,552.00 and return $362,898.00 to South Coast Investors II, LLC. We would like to have the security deposit released as soon as possible. Please let me know if there is anything we can do to expedite the process. I can be reached by phone at (949) 606-4260 and by email at igriffith@missioncommercial.com. Sincerely, CY1A\V Jake Griffith L- 4 TH: 'lf Go es _ t. k+- ATTACHMENT 2