HomeMy WebLinkAboutItem 06.iSeptember 14, 2011 Item No.
Proposed Action
Staff recommends adoption of the following motion: Move to approve a 100 day extension for
recording the Kingsley Shores final plat.
Adoption of this motion will provide the development team with an additional 100 days to obtain
the necessary financing to allow the Kingsley Shores senior housing project to move forward.
Overview
Kingsley Shores representatives are requesting another 100 day extension for recording the
Kingsley Shores final plat. The City Council approved the Kingsley Shores preliminary and final
plat and related planning actions at their March 7, 2011 meeting. Chapter 10 -2 -3E of the City
Code (the Subdivision Ordinance) requires that a final plat be recorded within 100 days of City
Council approval. The City Council approved an initial 100 day extension to record the Kingsley
Shores final plat at their June 6, 2011 meeting. The final plat of Kingsley Shores will expire on
September 23, 2011 unless the City Council grants an additional extension.
Kingsley Shores is a 101 unit continuing care senior housing development to be located east of the
Charthouse Restaurant on the north side of Klamath Trail, west of Kenwood Trail (CSAH 5).
Planning Department staff recommends that the City Council grant an additional 100 day
extension for recording the Kingsley Shores final plat to January 1, 2012.
Primary Issues to Consider
What are the implications if this final plat extension request is not granted?
The Kingsley Shores preliminary and final plat would become null and void requiring approval of
a new preliminary and final plat.
Supporting Information
September 2, 2011 letter requesting the plat extension
Y
Daryl Marey, P
g Director
SEPTEMBER 19, 2011 CITY COUNCIL MEETING
KINGSLEY SHORES FINAL PLAT EXTENSION
Financial Impact: $ Budgeted: Y/N Source:
Related Documents (CIP, ERP, etc.): Subdivision Ordinance
Notes:
HERBERT J. SIMS & CO.
cApiTAF FIN. \NCINC:
September 2, 2011
Mr. Daryl Morey
Planning Director
City of Lakeville
20195 Holyoke Avenue
Lakeville, MN 55044
Re: Kingsley Shores Senior Living Project
Dear Mr. Morey,
601 Carlson Parkway, Suite 1050, Minnetonka MN 55305 Tel: 952 -449 -5201
I am writing at the request of Charthouse Senior Living, LLC ( "Charthouse ") regarding an extension of the date to record the
Kingsley Shores final plat. As Andy Auger has communicated, the financing is in process but slightly behind the original
schedule. Herbert J Sims, & Co. is currently in the process of arranging financing and we are confident a written commitment to
finance the project will be forthcoming within the next 30 days. Accordingly, Charthouse is requesting an extension of the final
plat recording date.
I would be happy to discuss the financing schedule by telephone if that would be helpful. My direct telephone number is 612-
670 -0830 or I can be reached by email at mlandreville@hjsims.com. As you are no doubt aware, in the current economic
environment, lenders are taking their time to process construction loan requests and the delay does not suggest any doubt about
our ultimate success.
Thank you for your consideration of this matter.
Sincerely,
Mark Landreville
Executive Vice President
Cc: Andy Auger, Charthouse Senior Living, LLC