Adopt Resolution #22-070 Approving an Amendment to the Development Agreement for Site Improvements at 7912 Sunwood Drive NW (Project No. 22-101); Case of Northstar Marketplace Station LLC

On February 22, 2022, the City Council approved a Site Plan and Development Agreement for a new, multi-tenant retail building at 7912 Sunwood Drive NW (the "Subject Property").  Northstar Marketplace Station LLC (the "Developer") subsequently contacted City Staff with a concern regarding Section 1, Paragraph 7 (Required Improvements Completion Date).  The Developer's concern with the timing of completion is directly correlated with material shortages and supply chain delays, which have impacted some of their other recent projects.  The Developer requested an amendment to this paragraph of the Development Agreement to allow at least an additional six (6) months.

The material shortages and supply line delays are an unfortunate reality currently and are beyond the control of the Developer.  The Developer wants to avoid having their General Contractor pulled off the site (if needed materials were not available) only to have to remobilize at a later date).  Thus, Staff has revised Section 1, Paragraph 7 of the Development Agreement to reflect a required completion date of February 22, 2024 (this provides 12 additional months to complete site improvements).  

The Developer is responsible for all costs associated with this project.

Staff recommends adopting Resolution #22-070 approving an amendment to the Development Agreement for site improvements at 7912 Sunwood Drive NW to provide a completion date of February 22, 2024 for all required improvements.

Motion to adopt Resolution #22-070 approving an amendment to the Development Agreement for site improvements at 7912 Sunwood Drive NW to provide a completion date of February 22, 2024 for all required improvements.