4B, Traverse Business Center Extension No. 3

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MEMORANDUM DATE: June 13, 2011 TO: Honorable Mayor & City Councilmembers Patrick Klaers, City Administrator FROM: Meagan Beekman, City Planner SUBJECT: Planning Case #06-040 Applicant: CMK Arden Holdings (Chesapeake Companies) Property Location: 4200 Round Lake Road Request: Building Permit Extension Requested Action Approve Amending Section 3.0 Subd B.1 of the Final Planned Unit Development (PUD) Permit for the Traverse Business Center to Extend the Building Permit Deadline for Phase I and II to July 30, 2014, and the Final PUD deadline for Phase III to July 30, 2015. Background On October 29, 2007, the Arden Hills City Council approved the Master PUD for the Traverse Business Center and the Final PUD permit for Phases I and II. The PUD gave approval to CMK Arden Holdings (Chesapeake Companies) for the Traverse Business Center to construct up to 500,000 square feet of building space at the property located in the northeast corner of Interstates 35W and 694. The Master and Final PUD application was reviewed in Planning Case 06-040. Section 3.0 Subd B.1 of the Final PUD Permit required CMK to obtain building permits for Phase 1 of the development on or before July 30, 2008; building permits for Phase II by July 30, 2011; and obtain Final PUD approval for Phase III by June 30, 2012 (Attachment A). Due to market conditions and other factors, CMK has been unable to sign a tenant (Attachment B). Therefore, CMK is requesting a third amendment to the approved development agreement that would allow an extension of the building permit deadline for Phase I and II to June 30, 2014, and for Phase III to June 30, 2015, this is permissible with Council approval. City of Arden Hills City Council Meeting for June 13, 2011 C:\DOCUME~1\MEAGAN~1.BEE\LOCALS~1\Temp\ELF20110609_100416\06-13-11 - Regular Meeting - Traverse Extenstion 3 - Memo.doc Page 1 of 2