Golden Acres Subdivision is a proposed subdivision that would create 4 lots on approximately 39.4 acres of land for commercial and multi-family residential uses.  The property is located on the northwest corner of 62nd Street West/Molt Road and Rimrock Road. City Council granted conditional approval of the preliminary plat of Golden Acres Subdivision on February 23, 2009. Section 23-303.I. of the City Subdivision Regulations stipulates that the conditional approval of minor preliminary plats shall be in force for not more than three years unless extended by City Council to a period of time mutually agreed-upon by Council and the subdivider. The three year preliminary plat approval period will expire on February 23, 2012, and the subdivider has requested an extension to that approval period for 36 additional months (three years).

The City Council may:

• Approve the request to extend the preliminary plat approval for 36 months; or
• Deny the request.

Section 23-303.I. lists seven criteria for City Council to consider when evaluating a request for a preliminary plat approval extension request. They are as follows:
1.  Changes to the subdivision regulations since the original approval and whether the subdivision as originally approved is essentially compliant with the new regulations.
2.  Progress to date in completing the subdivision as a whole and any phases.
3.  Phasing of the subdivision and the ability for the existing development to operate without the delayed development.
4.  Dependence of infrastructure development on the subdivision.
5.  Duration of the requested extension.
6.  Demonstrated ability of the subdivider to complete the subdivision.
7.  Such other factors or criteria as deemed material in the discretion of the governing body.

Planning staff's evaluation of these criteria is included in Attachment 2. 

Platting and subsequent development of four lots for commercial and multi-family residential development would increase the tax revenues for the City. Allowing the subdivider additional time to market the property and prepare the final plat documents for approval and recording should not have any direct financial impact to the City.

Planning staff recommends that the City Council approve the request for an extension of the preliminary plat approval date for Golden Acres Subdivision for three years, and set the new expiration date to February 23, 2015.