Agenda - Council - 10/23/2007 - Laserfiche WebLink

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CASE #q REQUEST FOR EXTENSION TO SUBMIT FINAL PLAT FOR SUMMERSET MEADOWS SUBDIVISION; CASE OF SUMMERSET MEADOWS LLC By: Patrick Trudgeon, AICP, Community Development Director 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 Armstrong Blvd. Under City Code, a final plat must be submitted no later than one year after preliminary plat approval. 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 applicant. On September 20, 2006, the developer, Summerset Meadows LLC sent a request to the City Council to extend the time limit for a submittal of a final plat until October 25, 2007. In their 2006 letter, the developer indicated the need to revaluate the site plan given the considerable decline in the marketability of multi - family units and the introduction of the Ramsey Crossing commercial development on the eastern side of the Summerset Meadows subdivision. On September 20, 2007, the City received a letter from the developer requesting another one- year extension for a final 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 developer is requesting that they have until October 25, 2008 to submit the final plat for Summerset Meadows. The following items are included for your review: a) Site Location Map b) Letter from Summerset Meadows LLC dated September 20, 2007 requesting a one -year extension. c) Letter from Summerset Meadows dated September 29, 2006 requesting a one -year extension. d) Approved Preliminary Site Plan for Summerset Meadows e) Resolution granting a one -year extension to Summerset Meadows LLC to submit a final plat for the Summerset Meadows subdivision. Funding Source: All staff costs associated with the review of land use applications is paid for by the applicant. 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. Two months ago the City extended the final plat submittal for the Skyline Point subdivision for one year. -137-