1d. Extend Time to File Development Contract and Final Plat Mylars for Boulder Cove Project No. 06-15
CITY OF
CHANHASSEN
7700 Market Boulevard
PO Box 147
Chanhassen, MN 55317
Administration
Phone: 952.227.1100
Fax: 952.227.1110
Building Inspections
Phone: 952.227.1180
Fax: 952.227.1190
Engineering
Phone: 952.227.1160
Fax: 952.227.1170
Finance
Phone: 952.227.1140
Fax: 952.227.1110
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Phone: 952.227.1120
Fax: 952.227.1110
Recreation Center
2310 Coulter Boulevard
Phone: 952.227.1400
Fax: 952.227.1404
Planning &
Natural Resources
Phone: 952.227.1130
Fax: 952.227.1110
Public Works
1591 Park Road
Phone: 952.227.1300
Fax: 952.227.1310
Senior Center
Phone: 952,227.1125
Fax: 952.227.1110
Web Site
www.ci.chanhassen.mn.us
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MEMORANDUM
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TO: Paul Oehme, Director of Public Works/City Engineer ", r
FROM: Alyson Panske, Assistant City Engineer W' t /;!. ·
DATE:
August 13,2007
SUBJECT:
Extend Time to File Development Contract and Final Plat Mylars for
Boulder Cove- Project No. 06-15
(Simple Majority Vote Required)
On September 25, 2006, City Council approved the final plat, development contract and
construction plans for the Boulder Cove development. On November 13,2006 City Council
extended the time to file the final plat to May 1, 2007 due to unresolved issues with the legal
description of the parent parcel. On April 3, 2007 the developer sent staff an email stating
that these issues remain unresolved and requested that the time to file the final plat be
extended to August 1,2007.
On July 24, 2007, the developer sent staff a letter requesting that the time to file the final plat
be extended to August 1, 2008 to allow him sufficient time to secure financing for the
project.
The developer acknowledges that the cash fees collected with the final plat will be updated
to reflect those in effect at the time the development contract is to be filed.
Once construction on the project is about to commence, staff will send a notice to residents
adjacent to the project.
Staff recommends that City Council extend the time to file the Boulder Cove Development
Contract and Final Plat to August 1,2008 contingent upon payment of cash fees in effect at
the time of filing.
Enclosure:
Letter from Roger Derrick date July 24,2007.
c:
Roger Derrick, Cottage Homesteads at Boulder Cove
G:\ENG\PROJECTS\A-E\Boulder Cove\extend filing time 08-13-07.doc
The City 01 Chanhassen · A growing community with clean lakes, quality schools, a charming downtown, thriving businesses, winding trails, and beautiful parks. A great place to live, work, and play.
Cottag Homesteads at Boulder Cove, LLC
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Cottage Homesteads at Boulder Cove, LLC
7300 Metro Blvd., Suite #360
Edina, MN 55439
952.830.0161
Fax: 952.831.1215
July 24, 2007
REceIVED
JUL 2 6 2007
CITY OF CHANHASSEN
Ms. Shanneen AI-Jaff
City of Chanhassen
Planning Department
7700 Market Blvd
PO Box 147
Chanhassen MN 55317
Dear Ms. AI-Jaff,
Cottage Homesteads at Boulder Cove, LLC, is requesting a one-year extension, until August 1,
2008, for the filing of the final plat of Boulder Cove.
The current problems in the residential real estate market are causing banks to be more cautious
when committing to land development loans. The lender we had in place when we purchased the
property two years ago is no longer making loans. We are talking to other lenders who are
interested in financing Boulder Cove, but they want to see "pre-sales."
As you know, in order to file the plat we must give the city security of nearly $1 million and pay
fees of more than $200,000.00. We need a lender in place in order to do that.
We are developing our plans to initiate a pre-sale marketing campaign, and hope to obtain the
necessary pre-sales between now and next spring/summer so that we can go ahead and close with
the lender, file the plat, and build our project.
Thank you for your consideration.
~elY,
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Cottage Homesteads at Boulder Cove, LLC