Action 4.
Regular Board of Supervisors Meeting
Community Development
- Meeting Date:
- 04/25/2017
- Title:
- Extension request of the Assurance Agreement for The Oaks Subdivision
- Submitted By:
- Paul Esparza, Community Development
- Department:
- Community Development
- Division:
- Planning & Zoning
Presentation:
PowerPoint
Recommendation:
Approve
Document Signatures:
BOS Signature Required
# of ORIGINALS
Submitted for Signature:
Submitted for Signature:
1
NAME
of PRESENTER:
of PRESENTER:
Paul Esparza
TITLE
of PRESENTER:
of PRESENTER:
Planning Manager
Docket Number (If applicable):
S-04-03
Mandated Function?:
Not Mandated
Source of Mandate
or Basis for Support?:
or Basis for Support?:
Information
Agenda Item Text:
Approve an extension request of the Assurance Agreement for The Oaks Subdivision with Pioneer Title Agency, Inc., as Trustee under Trust No. 319061 for Castle & Cooke Arizona, Inc as Beneficiary of Trust No. 319061 to May 9, 2020.
Background:
This is a request from Castle and Cooke Arizona, Inc. for an extension of the Assurance Agreement for the completion of improvements for The Oaks Subdivision, Phases 2 thru 5.
The Oaks Subdivision consists of 113 lots on 503-acres, is zoned RU-4, and is located east of State Route 92 at Three Canyons Boulevard, within the Southern San Pedro Valley Area Plan and the Sierra Vista Sub-watershed. The project is served by the Bella Vista Water Company and has an average lot size of 4.45-acres. Phase I of this project was completed in February 2008 with 29 lots released. Eighty-four (84) lots remain secured under the Assurance Agreement.
The Board of Supervisors approved the final plat on May 1, 2007, and both the Final Plat and the Assurance Agreement were recorded on May 9, 2007. On September 13, 2011, the Board approved an extension of the assurance agreement to May 9, 2014. On May 20, 2014, the Board approved a second extension of the assurance agreement to May 9, 2017. If this request is approved, the Assurance Agreement would be extended to May 9, 2020.
On December 6, 2016, the Board approved text amendments to Section 501.01 Assurance Agreement in the subdivision regulations which includes five factors that the Board may consider in their decision to grant an assurance agreement extension. The responses for this request are provided in bold italics:
1. Whether the property taxes on the subject parcel(s) are current. Yes, verified by staff.
2. If the subdivision is phased, whether the subdivision infrastructure improvements for at least 20% of the proposed phases have been completed. If it is not phased, whether at least 25% of the subdivision infrastructure improvements have been completed. There are 5 phases in this project. Twenty-nine (29) of the 113 total lots have been improved. This represents 26% completion of the subdivision improvements. In addition, all offsite improvements have been completed including the well and water storage facility for the entire subdivision and the new Three Canyons Gate.
3. The number of extensions previously granted. A maximum of three extensions, not exceeding a total of ten (10) years since either the original approval of the assurance agreement or the most recent release of a lot, whichever has occurred later. Two prior extensions were granted in 2011 and 2014.
4. The economic conditions or other circumstances that are affecting the developer’s ability to complete subdivision improvements. The first phase was completed slightly before the beginning of the “Great Recession” and three lots were sold in that period. Since that time only two lots have been sold though the market does seem to be rebounding slightly based on current interest. The property was named “The Oaks “ for all of the unique oak trees on the property. The fire in 2011 destroyed about 50% of the trees and it is only now beginning to green up. The fire uniquely impacted the desirability of lots at this location.
5. Has the character of the area or physical factors such as drainage, floodplain, water issues or circulation patterns changed significantly since plat approval that compliance with current County Subdivision and/or Zoning Regulations is necessary. No
If the request is approved, the Extension of Assurance Agreement, the contract between Cochise County, the Trustee, and the Beneficiaries, is presented for the Chairman's signature.
The Oaks Subdivision consists of 113 lots on 503-acres, is zoned RU-4, and is located east of State Route 92 at Three Canyons Boulevard, within the Southern San Pedro Valley Area Plan and the Sierra Vista Sub-watershed. The project is served by the Bella Vista Water Company and has an average lot size of 4.45-acres. Phase I of this project was completed in February 2008 with 29 lots released. Eighty-four (84) lots remain secured under the Assurance Agreement.
The Board of Supervisors approved the final plat on May 1, 2007, and both the Final Plat and the Assurance Agreement were recorded on May 9, 2007. On September 13, 2011, the Board approved an extension of the assurance agreement to May 9, 2014. On May 20, 2014, the Board approved a second extension of the assurance agreement to May 9, 2017. If this request is approved, the Assurance Agreement would be extended to May 9, 2020.
On December 6, 2016, the Board approved text amendments to Section 501.01 Assurance Agreement in the subdivision regulations which includes five factors that the Board may consider in their decision to grant an assurance agreement extension. The responses for this request are provided in bold italics:
1. Whether the property taxes on the subject parcel(s) are current. Yes, verified by staff.
2. If the subdivision is phased, whether the subdivision infrastructure improvements for at least 20% of the proposed phases have been completed. If it is not phased, whether at least 25% of the subdivision infrastructure improvements have been completed. There are 5 phases in this project. Twenty-nine (29) of the 113 total lots have been improved. This represents 26% completion of the subdivision improvements. In addition, all offsite improvements have been completed including the well and water storage facility for the entire subdivision and the new Three Canyons Gate.
3. The number of extensions previously granted. A maximum of three extensions, not exceeding a total of ten (10) years since either the original approval of the assurance agreement or the most recent release of a lot, whichever has occurred later. Two prior extensions were granted in 2011 and 2014.
4. The economic conditions or other circumstances that are affecting the developer’s ability to complete subdivision improvements. The first phase was completed slightly before the beginning of the “Great Recession” and three lots were sold in that period. Since that time only two lots have been sold though the market does seem to be rebounding slightly based on current interest. The property was named “The Oaks “ for all of the unique oak trees on the property. The fire in 2011 destroyed about 50% of the trees and it is only now beginning to green up. The fire uniquely impacted the desirability of lots at this location.
5. Has the character of the area or physical factors such as drainage, floodplain, water issues or circulation patterns changed significantly since plat approval that compliance with current County Subdivision and/or Zoning Regulations is necessary. No
If the request is approved, the Extension of Assurance Agreement, the contract between Cochise County, the Trustee, and the Beneficiaries, is presented for the Chairman's signature.
Department's Next Steps (if approved):
If approved, the Chairman will sign the Assurance Agreement and it will be recorded with a new expiration date of May 9, 2020.
Impact of NOT Approving/Alternatives:
The subdivision improvements for Phases 2 thru 5 of The Oaks Subdivision would remain uncompleted.
To BOS Staff: Document Disposition/Follow-Up:
After the recorded Assurance Agreement is returned to the Board office, please send the original document to the Planning Dept. for placement in the subdivision file.