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Home My WebLink About#18 - Boulder Ponds Time Extension STAFF REPORT DATE: July 2nd, 2019 CONSENT MOTION TO: City Council FROM: Ben Prchal - City Planner AGENDA ITEM: Final Plat recording deadline time extension for Boulder Ponds 4th Addition REVIEWED BY: Ken Roberts – Planning Director BACKGROUND: The City Council adopted Resolution 2018-108 approving the Boulder Ponds 4th Addition final plat for a 95 unit congregate housing unit (senior housing) on September 18, 2018. The applicant, Trident Development, had submitted a request for a time extension to record the final plat and received approval from City Council on March 5th 2019 through resolution 2019-016. That approval gave them a recording deadline of July 17, 2019. The applicant has submitted another request which outlines the current timeline that they are trying to achieve. For the previous extension, Staff recommended approval and will do so again. The applicant is hoping to keep their final plat approval valid which is why the City received another request to extend their final platting period. ISSUE BEFORE COUNCIL: The City Council is being requested to consider whether or not to extend the final plat recording deadline for the Boulder Ponds 4th addition, for a second time. In this case, they are requesting a recording date of no later than August 31st, 2019. PROPOSAL DETAILS/ANALYSIS: Applicants: Trident Development, LLC, 3601 18th Street South, St. Cloud, MN 56301 Property Owners: OP4 Boulder Ponds, LLC, 11445 Viking Drive, Ste 350, Eden Prairie, MN 55344 Location: Outlots B and C, Boulder Ponds, PID#s 34.029.21.33.0023 and 34.029.21.33.0024 Request: Final Plat Recording Time Extension Existing Land Use: Vacant property Existing Zoning: HDR – High Density Residential Comprehensive Plan Guidance: Commercial/Medium Density Residential History PUD General Concept Plan approval: 12/17/2013 by Resolution 2013-109; Preliminary Plat and PUD Plans approval: 9/16/2014 by Resolution 2014-073; Boulder Ponds Zoning Map and PUD Amendment: 12/6/2016 by Ord. 08-149; Boulder Ponds 4th Addition Final Plat approval: 9/18/2015 by Resolution 2018-108; Deadline(s) for Action: Application Complete – 2/8/2019 60 Day Deadline – 4/9/2019 Platting Extension – 6/17/2019 Applicable Regulations: Chapter 153.10 B. (4) Recording of final plat Platting extensions are not uncommon between developments, whether it is for a preliminary plan review deadline or a final plat recording deadline. There have been plat time extension requests for the Boulder Ponds development as a whole but this would be the second time extension request for this phase/project within the development. Page 2 Section 153.10 (4) of the City code does require final plats to be recorded within 120 days of approval. Given that they have already received an extension the 120 day timeline will no longer apply. The developer states in their attached narrative that they are continuing to work with the lender, Title Company, general contractor, and investors. The closing is scheduled to take place on July 17, 2019 and closing is important to the developer as it provides the cash required to pay the City for development fees and other various other government permit/fees. The developer strongly feels that closing before July 17 of 2019 is going to be problematic on its own but any delay would jeopardize their ability to meet the required recording date. FISCAL IMPACT: None. OPTIONS: The City Council should consider the following options: 1) Extend the final plat recording deadline to August 31st, 2019. 2) Reject the final plat recording time extension request. This would require them to have the plat recorded by July 17th 2019 or go through another full City review of the final plat. RECOMMENDATION: Staff is recommending that the City Council approve the request to extend the Final Plat recording deadline for the Boulder Ponds 4th Addition Congregate Housing project as part of tonight’s consent agenda. If removed from the consent agenda, then Staff recommends the City Council approve the request with the following motion: “Move to adopt Resolution No. 2019-046, extending the Final Plat recording deadline for the Boulder Ponds 4th Addition to August 31st, 2019.” ATTACHMENTS: 1. Resolution 2019-016 2. Trident Development Extension Request Letter 3. Resolution 2018-108 CITY OF LAKE ELMO WASHINGTON COUNTY STATE OF MINNESOTA RESOLUTION NO. 2019-046 A RESOLUTION APPROVING THE SECOND TIME EXTENSION FOR THE RECORDING OF THE FINAL PLAT DEADLINE OF THE BOULDER PONDS 4TH ADDITION WHEREAS, the City of Lake Elmo is a municipal corporation organized and existing under the laws of the State of Minnesota; and WHEREAS, Trident Development, LLC, 3601 18th Street South, St. Cloud, MN 56301, submitted an application to the City of Lake Elmo (City) for a Final Plat for a 95-unit assisted living and memory care building on Lots B and C of the Boulder Ponds development (PIDs: 34.029.21.33.0023 and 34.029.21.33.0024); and WHEREAS, on August 27th, 2018, the Lake Elmo Planning Commission reviewed and recommended approval of the Boulder Ponds Final Plat and PUD Plans for the 4th addition; and WHEREAS, on September 18, 2018, the Lake Elmo City Council adopted Resolution 2018-108, approving the Boulder Ponds Fourth Addition Final Plat and PUD Plans; and WHEREAS, on March 5th, 2019, the Lake Elmo City Council adopted Resolution 2018-016, approving the first platting time extension for the Boulder Ponds Fourth Addition Final Plat and PUD Plans; and WHEREAS, Trident Development, LLC. submitted a request for a 45 day time extension to the Final Plat recording deadline of August 31, 2019 for the approved plat to allow for additional time to prepare final funding and closing; and NOW, THEREFORE, BE IT RESOLVED THAT the City Council does hereby approve an extension solely to the Final Plat recording deadline for the Boulder Ponds 4th Addition, and does hereby extend the Final Plat recording deadline to August 31st, 2019 subject to the following condition(s): 1. That all of the conditions outlined in resolution 2018-108 are satisfied before the City releases the Final Plat for recording. Passed and duly adopted this 2nd day of July, 2019 by the City Council of the City of Lake Elmo, Minnesota. ____________________________________ Mike Pearson, Mayor ATTEST: ____________________________________ Julie Johnson, City Clerk Page 1 of 2 3601 18th Street South ● Suite # 103 ● St. Cloud, MN 56301 Phone: 320.258.4438 ● 320.252.3603 June 12, 2019 Ben Prchal, City Planner Members of the City Council City of Lake Elmo 3880 Laverne Avenue North Lake Elmo, MN 55042 PROJECT: BOULDER PONDS FOURTH ADDITION FINAL PLAT/ DEVELOPMENT AGREEMENT REQUEST: 45-DAY EXTENSION TO RECORDING DEADLINE Mr. Prchal and members of the Lake Elmo City Council: On September 18, 2018, Boulder Ponds Senior Living LLC (the “Developer”) received final plat approval from the Lake Elmo City Council for the 95-unit Boulder Ponds Senior Living project located just northeast of Interstate 94 and County Road 13 (on Jade Trail). The deadline for recording said plat, and the corresponding development agreement, is July 17, 2019. Progress continues to be made on this project: • Closed on purchase of the subject property in December of 2018 • Completed detailed construction plans and submitted a building permit application on May 10, 2019 • Recently approved for financing; now drafting loan/ organizational documents in preparation for closing • Appraisal required for closing recently ordered • Project placed on general contractor’s construction schedule (Lyon Contracting) Based on discussions with the lender, title company, general contractor, and investors, closing is scheduled for July 17. Loan closing is important to the Developer as it provides the cash required to pay city development fees and various other government permits/ fees. Closing earlier than July 17 is problematic: • Loan/ organizational documents will take 4-5 weeks to finalize, execute, and prepare for closing • Remaining government approvals/ permits are expected to take 3-4 weeks for approval (building permit, county food services permit, NPDES permit, etc.). • Appraisal expected to be completed in 4 weeks • Lyon Contracting is unavailable to commence construction until late July as they are currently wrapping up projects in Brooklyn Park, Winona, and Chaska (click here). Page 2 of 2 If a delay to the scheduled loan closing date would occur, we would not have enough time to request an extension from the City Council (as it can take 1.5-2.5 weeks to go through the Council approval process, and we wouldn’t know an extension was needed until 1-5 days before closing). As a result, we believe it would be prudent to obtain a short extension now (45-days) to avoid any potential issues as closing approaches. If you would like to verify any of this information with the lender, title company, or general contractor, we are happy to arrange. We would also be happy to provide you with the detailed closing checklist from our lender. Your consideration is appreciated. Please let me know if you have any questions. Speaking on behalf of our development team, we are eager to close on this project and excited to begin construction in Lake Elmo very soon. Respectfully, Patrick E. Brama Trident Development, LLC (763) 412-7609, patrickb@tridentdevelopmentmn.com 3601 18th Street S., #103, St. Cloud, MN 56301