Laserfiche WebLink
1 <br /> <br />ECONOMIC DEVELOPMENT ADVISORY COMMITTEE <br />AGENDA ITEM 3A <br /> <br /> <br />STAFF ORIGINATOR: Michael Grochala, Community Development Director <br /> <br />EDAC MEETING DATE: October 3, 2024 <br /> <br />TOPIC: Lino Retail 2.0, Java Companies <br /> Amendment to Purchase Agreement <br /> Rezoning, Preliminary Plat, CUP <br /> <br /> <br />BACKGROUND <br /> <br />In September of 2023, the City entered into a purchase agreement with Java Companies for the <br />sale of 2.24 acres located at the corner of Lake Drive and 77th Street. The sale was contingent <br />on Java Companies purchasing the house, located immediately south of 77th Street, and <br />dedicating right-of-way for the relocation of 77th Street. <br /> <br />Java has assembled the parcels, including two existing residential parcels south of the proposed <br />realigned road, and is now pursuing development approvals including: <br /> <br />1) Rezoning of the property south of existing 77th Street from NB, Neighborhood Business <br />to GB, General Business. The rezoning is proposed to allow for auto repair related uses <br />(only allowed south of the new road by agreement) and drive through on a multi-tenant <br />building. Property to the north is zoned GB and existing bank to the south is GB. <br />2) Preliminary Plat Approval for a 3-lot commercial subdivision. This is generally a <br />rearrangement of the existing lots and provides dedicated right-of-way for the new <br />Marketplace Drive extension and along Lake Drive. <br />3) Conditional Use Permit for a rapid oil change business (Auto Repair). <br />4) Site and Building Plan approvals for each of the buildings. <br /> <br />Java has also requested an amendment to the purchase agreement to provide 4 additional 60- <br />day extensions. Staff is proposing this be limited to 3 extension (180 days). Java is currently in <br />its last extension which will expire prior to preliminary plan approval by the City Council. This is <br />currently scheduled for November at the earliest. <br /> <br />Staff will provide an overview of the project plans at the meeting. <br /> <br />EDAC CONSIDERATION <br /> <br />Staff is requesting recommendation from EDAC regarding the proposed purchase agreement <br />amendment.