Agenda - Council - 09/13/2016 - Laserfiche WebLink

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OW t hi lon: To work together ko respotibiy grow oar community, and to provide quality, cost -affective, and efckent government tet does. CC Regular Session Meeting Date: 09/13/2016 Submitted For: Patrick Brama, Administrative Services By: Patrick Brama, Administrative Services 4. 6. Information Title: Approve Lifestyle Construction Services Purchase Agreement Amendment/ Extension Request Purpose/Background: PURPOSE Lifestyle Construction Services Purchase Agreement Amendment/ Extension Request. BACKGROUND The City entered into a purchase agreement for the sale of roughly 3-acres of city owned land to Lifestyle Construction (Bill Gleason) on May 31, 2016 for what is commonly referred to as the "U-shaped" residential parcel located in The COR. This agreement was set to close by September 26 (10 days after the September 16 inspection period deadline). Site History/Site Information/ Property Listing For detailed information on this site, please see 05/10/2016 Council regular meeting agenda (review of purchase agreement). Developer/Proposed Project For detailed information on the developer and proposed project, please see 05/10/2016 Council regular meeting agenda (review of purchase agreement). Project Update Mr. Gleason (the developer) has run into a handful of challenges in site design (which, were expected due to the properties of this site). As a result, he has taken longer to complete the entitlement process than originally expected (i.e. City site plan review process). He is still proposing a 12-unit, rambler style, detached, single family, association -type product. Staff recently met with Mr. Gleason, and his project engineer. It appears the project is moving forward --staff is expecting a sketch plan review in October. REQUEST (purpose of case) Mr. Gleason needs to extend the "inspection period" within the attached purchase agreement. As the agreement reads, he is only allowed one 30-day extension (to October 16, 2016). However, Mr. Gleason needs a 60-day extension (to November 16, 2016). He has indicated he is willing to place an additional $2,500 in escrow for the extension (as contemplated by the original agreement for a 30-day extension). Observations/Alternatives: NA Funding Source: