4.14 SR 06-17-2024 - Laserfiche WebLink

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City of Elk - River To City Council Meeting Date June 17, 2024 Item Description Extend Land Use Approvals: Plat and Conditional Use Permit (PUD) - Broadway on 10 Apartment Project Request for Action Item Number 4.14 Prepared By Zack Carlton, Community Development Director Reviewed by Zack Carlton Cal Portner Tina Allard Action Requested Approve, by motion, a one-year extension of the date to record the plat and PUD agreement (P 21-05 and CU 21-10) and begin construction of the proposed multifamily development. If Approved, the new date for expiration of approvals will be July 6, 2025. Background/Discussion On July 6, 2021, the City Council approved the preliminary plat and PUD for the Broadway on 10 development projects. The approval is good for two years from the date of Council action. Due to the market conditions since the original approval, the developer had submitted a written request for a one-year extension in 2023, which was granted by the City Council on June 20, 2023. The developer has continued to market the project and has been working with partners to bring the project forward. However, due to the timing of the negotiations and continued market uncertainty, the applicant has requested an additional one-year extension. The City Council has traditionally granted extension requests and allowed the developer to move forward with their project under the original approved conditions and standards. The developer would now have until July 6, 2025, to begin their project. Staff recommends granting this request but would not support any additional extensions to previous approvals. Financial Impact None Mission/Policy/Goal Meet changing needs - agile. Support the growth and development of the community. Attachments Applicant's Extension Request The Elk River Vision A avelcoming community zvitb revolutionary and spirited resourcefulness, exceptional service, and community p p W E H E 0 A T engagement that encourages and inspires prosperity INM 372