Conservation Issues of the Ventana Chapter | monterey county
New Financial and Compliance Woes for Monterey Bay Shores Resort
Mega resort/condo project planned for these coastal dunes faces new challenges. (Photograph: Steve Zmak)
The controversial mega resort and condominium project proposed for 39 beachfront acres in Sand City has hit another snag. New York lenders Fourth Third LLC and Medley Capital are contesting in court that the developer Ed Ghandour of SNG defaulted on the balance of a $29.5 million loan on June 15 and are requesting control of the property. The Court will be deciding in the near future whether to appoint a receiver to oversee the stalled project. Another update includes a November 14 letter written to the Mr. Ghandour by the California Coastal Commission (attached here) citing deficiencies in the submitted compliance documents and a list of missing "critical plan elements" for the Coastal Development Permit issued at the April CCC meeting which remains on hold.
Sierra Club and other environmental groups oppose the project on several grounds including the presence of Smith's blue butterfly, Monterey spineflower and potential risks to the rare coastal population of Western snowy plover which has been nesting on the site for years.