07-25-2005 Council Packet - Laserfiche WebLink

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W COnMr'ii JUL 2 5 2005 REQUEST FOR COUNCIL ACTION CITy OF ORONO Date: July 21,2005 Item No.: j ^ Departmcot Approval: Name: Michael P. Gaffron Title: Planning Director Administrator Approval:Admu Agenda Section: Zoning Item Description: #02-2840 STONEBAY • First Amendment to PUD No. 4 Agreement: Assignment of PUD &om John Terrance Homes LLC to OT Development LLC Lbtof Eihibits A - Agreement Document B - Map of Property being Transferred As noted during the recent final plat approval for Stonebay 3'**, 4“', 5“* and 6*** Additions, the remaining undeveloped rambler and two story townhome lots within Stonebay Phase 1, and all the remaining residential phases (consisting of rambler and 2-story townhome lots and outlots comprising the S'**, 4 , S'** and b"* Additions) are being taken over by the 2!achman group. The two commercial outlots on the soudi side of Kelley Parkway are not part of this transfer. The assignment of the Development Agreement fix>m John Terrance Homes LLC to 3Z Holdings is pursuant to a land purchase agreement between those two entities dated June 13, 2005. “3Z Holdings" is the entity under which Zachman Brothers holds land until it is developed. The successor entity which will actually be doing the development of the remaining Stonebay residential phases is “OT Development, LLC”, represented by Amie Zachman. This is a separate entity from OC Development LLC which is about to commence construction of the Lofts condominiums. The City Attorney has reviewed the attached Agreement drafted by the applicants' attorney, and finds it acceptable in form, and has indicated the terms of the PUD No. 4 Agreement will remain in effect under the new developer. COUNCIL ACTION REQUESTED Motion to Authorize the Mayor and City Clerk to execute the attached First Amendment to Planned Unit Development No. 4 Agreement. ' . • 7 ■'/ ^ ' ■•’ i * iM ini‘feiidtiri*nni mittri J