Consideration and Approval of Resolution No. 2014-38:  A resolution authorizing the execution of a First Amended and Restated Development Agreement between Pinnacle DevCo, Ltd., and the City of Flagstaff related to the development of approximately 18.6 acres of real property generally located at 800 E Sterling Lane.

1)  Read Resolution No. 2014-38 by title only.
2)  City Clerk reads Resolution No. 2014-38 by title only (if approved above).
3)  Approve Resolution No. 2014-38

State law allows cities to enter into development agreements by resolution.  The proposed First Amended and Restated Development Agreement governs the terms and conditions of the use and development of the subject property.

Subsidiary Decisions Points:
This is the first of two related items.  Should this agreement be approved by the City Council, the associated final plat will be considered for approval.

There are no financial liabilities associated with the approval of this agreement.  However, over the course of the agreements life, approximately $106,000.00 will be contributed by the Developer to the City of Flagstaff to further affordable housing efforts within the city.

No previous City Council discussion has occurred as it related to this agreement.  Previous City Council discussion has occurred as it relates to the overall development of the project as outlined in the background section.
 

 

The City Council may approve, deny, or modify the agreement as necessary to ensure that the development meets the objectives of the Flagstaff Regional Plan 2030, the Zoning Code, and the city's development goals and policies.

In August of 1998, the City Council approved Ordinance No. 1976 that conditionally rezoned the site from Rural Residential (RR) to Medium Residential (MR) for the development of an affordable residential townhouse project consisting of 548 units called Zuni Heights. Concurrently, the Growth Management Guide 2000 land use designation for the site was amended from Medium Density Residential to High Density Residential in order to support the increase in density. Subsequent to the approval of Growth Management Guide amendment and rezoning, platting was not pursued and the site was never developed.

On March 7, 2005, the City Council approved Resolution No. 2005-15 approving a Development Agreement between the City and developer, Resolution No. 2005-16 that amended the Flagstaff Area Regional Land Use and Transportation Plan land use designation for the site from High Density Residential to Medium Density Residential in order to support a reduced density, Ordinance No. 2005-05 that modified the conditions of Ordinance No. 1976 for the development of a single-family residential townhouse project consisting of 206 units called Pinnacle Pines, and a tentative plat for Unit 1 of the subdivision.

On October 21, 2014, the City Council approved the Pinnacle Pines Unit 2 Preliminary Plat for the subdivision of approximately 18.6 acres into 106 single-family residential townhouse lots generally located at 800 E Sterling Lane.

None

The community will receive the following benefits:

• A contribution from the Developer in the amount of $106,000.00 to be used solely for the benefit of affordable housing.
• The ability to use existing Lone Tree Interchange Funds, which were collected as part of the original development agreement, for the funding of current or future transportation infrastructure improvements associated with the Project's impact on the regional transportation system.
• For a period of 10-years, a contribution by the Developer in the amount of $141.26 per lot to be used for the funding of current or future transportation infrastructure improvements associated with the Project's impact on the regional transportation system.
• A public water main connection from the project to the public main located in John Wesley Powell Boulevard.

Inform

The City Council may approve, deny, or modify the agreement as necessary to ensure that the development meets the objectives of the Flagstaff Regional Plan 2030, the Zoning Code, and the city's development goals and policies.