HomeMy WebLinkAboutNORTH COLLEGE PROPERTIES PUD - FINAL - 48-87A - CORRESPONDENCE - MEETING COMMUNICATIONTO: Joe Frank, Assistant Planning Director
.FROM: Ted Shepard, Project Planner e
RE: Enforcement of the North College P.U.D.
December 2, 1987
On December 2, 1987, I met with Peter Barnes on the future enforcement of
the improvements associated with the North College Properties P.U.D.
Peter is still holding a certificate of occupancy until the zoning viola-
tions associated with the land use are resolved. The following timetable
is anticipated in enforcing the improvements:
December 14, 1987, P & Z approval.
December 28, 1987, expiration of the appeal period.
_ January 1, 1988, issuance of a temporary G.O. for a one month period.
February 1, 1988, improvements must be completed or secured with a letter
of credit.
Peter has setae concerns regarding the mechanics of the letter of credit.
First, he would. prefer a letter of credit that would expire in approxi-
mately six months as apposed to the typical two year time frame. He is
working with Paul Eckman on an ordinance revision that would allow this.
Second, the letter of credit must, in the case of lack of performance, be
reimbursable to the City in a timely manner. Some banks have been issuing
letters of credit that are not reimbursable to the City until the improve-
ments have been installed. This would require the City to do improvements
out of some department's operating budget which is unacceptable.
It is anticipated that North College Properties will require a letter of
credit. I plan on contacting Mr. Rutherford (Stewart's and Associates) and
Mr. Klingensmith (Expert Auto Sales) before the December 14, 1987 P & Z
hearing to discuss these concerns.
cc: File #48 - 87A