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City of Missoula, Montana Item to be Referred to City Council Committee Committee: Plat, Annexation and Zoning Committee Item: Request to delay Chickasaw Place development agreement Date: August 17, 2009 Prepared by: Carla Krause, Special Services Administrator Initiated by: WGM Group representing George Lake, et al Action Required: Consider granting a request for a 6-month extension for the execution of the annexation development agreement for Chickasaw Place Subdivision. Recommended Motion: Staff has no recommendation at this time. Timeline: Referral to committee: August 17, 2009 Committee discussion: August 19, 2009 Council acts to set hearing: No hearing required Public Hearing: None Background and Alternatives Explored: The WGM letter requesting a 6-month delay for completion of the execution of the annexation development agreement for Chickasaw Place sites variables in economics and items that need consideration by both the City and developer related to the proposed project. Significant among the items were: 1. Development Agreement includes property owners as well as the developer; most development agreements are with the developer only. 2. Additional costs contributing to change in viability of the project. 3. Economic climate and uncertain land values impacting marketability of the homes. Only Council has the authority to grant or deny the request to delay the development agreement requirement for the 6-month period. The resolution of annexation placed no specific deadline on completing the development agreement, but successful annexation was conditioned upon a development agreement being executed. If the delay is approved, the annexation and subdivision approval remain in full force and effect. If denied, the annexation and subdivision approval will become null and void and the property will revert to its original status and zoning in the County.