Agenda - Council - 06/09/2009 - Laserfiche WebLink

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CASE # J REQUEST FOR EXTENSION TO SUBMIT FINAL PLAT FOR SUMMERSET MEADOWS SUBDIVISION; CASE OF SUMMERSET MEADOWS LLC By: Tim Gladhill~ Associate Planner Background: On October 25, 2005, the City Council granted preliminary plat approval to Summerset Meadows, a residential subdivision located south of Alpine Drive and west of ~strong Blvd. Under City Code, a final plat must be submitted no later than one year after preliminary plat approval, which ih this case would be October 25,2006. In order for the preliminary plat to be valid after the one year time limit, the City Council can grant a time extension to the developer. On September 20, 2006, the developer, Summerset Meadows LLC sent a request to the City Council to extend the time limit for submittal of the final plat until October 25, 2007. Council granted the one year extension. On September 20, 2007, the City received a letter from the developer requesting another one- year extension for the fmal plat to be submitted. The letter states that the reason they would like another extension is due to the decision of the City not to pursue the Ramsey Crossings project, which included the eastern part of the Summerset Meadows subdivision, as well as the uncertainty in the residential market that is forecasted to continue into 2008. The City granted another one year extension to October 25, 2008 to submit the final plat for Summerset Meadows. The City received a letter from the developer dated September 2, 2008 requesting another extension to file for final plat approval. However, this time the request is for an additional two years. The continuing challenges presented in the Twin Cities residential market is. the reason for the request. Ultimately, City Council approved a six month extension until the City could complete its Comprehensive Plan Update. On April 22, 2009, the City received a letter requesting another one year extension due to the uncertain outlook for the Twin Cities Housing Market through 2009. The Applicant is concerned that loss of entitlement to the project could jeopardize the ability to finance future development. . Funding Source: All staff costs associated with the extension request are the responsibility of the developer. 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 almost four years since preliminary plat approval of Summerset Meadows and now the City is in the midst of the 2008 Comprehensive Plan update. The draft plan that was sent to adjacent jurisdictions for review showed a change in land use designation in areas encumbered by this preliminary plat.