HomeMy WebLinkAbout1991-12-10 - AGENDA REPORTS - TRACT 48117 TIME EXTENSION (2)AGENDA REPORT
City Manager ApprovaA
Item to be presents ddGGby /
CONSENT CALENDAR
DATE: December 10, 1991
SUBJECT: TRACT NO. 48117 - TIME EXTENSION
DEPARTMENT: Community Development
BACKGROUND
The subject tract was approved by the Planning Commission on November 6,
1989. It was approved in conjunction with a condition to participate in the
establishment of a funding mechanism to ensure the completion of Golden Valley
Road from the Antelope Valley Freeway (State Route 14) to Sierra Highway.
This condition was imposed upon four other developers so that the City could
be assured that we would not have piecemeal road construction but rather a
continuous roadway link between existing thoroughfares regardless of which
developments are -constructed first.
Over the past two years, staff and the five developers have been attempting to
work out the details of an assessment district which would be in place in
order to satisfy that condition as well as to conform to . the City's public
financing policy. for development. With the recent drop in development
activity, it has been very difficult for this consortium of five developers to
provide the necessary assurances to conform to this policy.
The developer of Tract No. 48117 has constructed approximately one-half of the
improvements for their project over this two-year period. They had locked in
their construction loans and were well along in the development process before
the difficulty with the funding agreement surfaced. The issue regarding. the
funding agreement has still not been resolved.
Although the Director of Community Development is empowered by the subdivision
ordinance to grant time extensions for tentatively approved maps, we feel that
this is such a complex project when considering the assessment district that
we would like the Council's concurrence in allowing this extension of time to
March 10, 1992 for this particular map. Hopefully, this will provide a
sufficient time frame to resolve the issues regarding the construction of
Golden Valley Road.
RECOMMENDATION
Concur with the Deputy City Manager/ Community Development Director's decision
to grant a sixty-day time extension to file the filed map for Tract No. 48117.
dls:562 APPROVED
Agenda Item:
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