Agenda - Council - 10/14/2008 - Laserfiche WebLink

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Observations: The current state of the real estate market has- caused many developers to substantially delay their residential projects and in some. cases completely abandon their projects. The previous extension requests were acceptable. However, it has been 3 years since preliminary plat approval of Summerset Meadows and now the City is in the midst of the 2008 Comprehensive Plan update. Over the next 6 months, the City hopes to finalize the 2005 Plan update. Depending on the outcome of the 2008 Plan update and any. subsequent amendments being considered for 2008, development standards or community expectations may change. Therefore, it is staff s opinion that the guidelines and regulations in effect when the development was approved in 2005 may be subject to change in the near future. Additionally, a 2 year extension added to a 2 year recording time frame potentially delays the project until 2012. In Staff s opinion, the request for a 2 year extension is asking the City for a significant reliance on a preliminary plat approved in 2005. Recommendation: City Staff recommends approval of a six month extension to April 25, 2009 for the developer to submit a final plat application. Council Action: Motion to adopt Resolutions #08-107—granting a month (or) _____ year extension to Summerset Meadows, LLC to submit the final plat application for the Summerset Meadows subdivision. -or- Motion to deny any additional extensions for Summerset Meadows, LLC to submit the final plat application for the Surnrnerset Meadows subdivision. Review Checklist: ! City Administrator City Attorney Community Development Director CC: 10/14/08 -268-