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Item 4B - Call-up Airport Road Use Review Extension PresentationItem 4B Call Up Consideration for Development Agreement Extension Use Review Approval Residential in Industrial at 3289 Airport Blvd. City Council August 17, 2021 •Use Review (Residential in Industrial) was unanimously approved in February 2017 •Property ownership changed in second quarter 2018 •Technical Document Application filed in November 2018 •Three rounds of review •Challenges with storm drainage had to be resolved •Technical Document approved in November 2019 •First three permits issued •First staff level extension on agreement issued February 2020 for six months •Second staff level extension on agreement issued August 2020 for six months •Construction nearing completion on three buildings •Applicant requested Planning Board level extension for good faith completion •Planning Board unanimously approved request for extension on Aug. 5, 2021 Process Location of Velo Condominiums Use Review for Velo Condominiums Use Review for Velo Condominiums Completed CompletedCompleted Criteria for approval of extension (A)Criteria for Demonstrating Reasonable Diligence: An applicant may show that it has exercised reasonable diligence by providing evidence that it has done substantial work towards completing the project. Such evidence may include, without limitation, drafting plans for building permit or technical document review, applications for building permits or other permits that are required prior to the issuance of building permits, site preparation and grading, or commencement of the construction of a portion of the project. (B)Criteria for Demonstrating Good Cause: An applicant may show good cause as to why an extension should be granted by providing evidence that includes, without limitation, the following: a demonstration of the applicant’s ability to complete the project within the extension; the extension is needed because of the size of the project or phasing of the development; or economic cycles and market conditions prevented the construction of the project during the original approval period. (C) Additional Conditions: As part of a hearing to consider an extension, the planning board may impose additional conditions on the applicant in order to ensure compliance with any amendments to Title 9, "Land Use Regulation," B.R.C. 1981, enacted after the date of the original approval. Criteria for approval of extension (A)Criteria for Demonstrating Reasonable Diligence: An applicant may show that it has exercised reasonable diligence by providing evidence that it has done substantial work towards completing the project. Such evidence may include, without limitation, drafting plans for building permit or technical document review, applications for building permits or other permits that are required prior to the issuance of building permits, site preparation and grading, or commencement of the construction of a portion of the project. •Applicant completed and received approval of the Technical Document Review plans •Building Permits applications were completed and approval of building permits for all five buildings; •Three of the five buildings have been completed •Applicant entered into contracts for 22 of the 40 units in the three completed buildings. Criteria for approval of extension (A)Criteria for Demonstrating Good Cause: An applicant may show good cause as to why an extension should be granted by providing evidence that includes, without limitation, the following: a demonstration of the applicant’s ability to complete the project within the extension; the extension is needed because of the size of the project or phasing of the development; or economic cycles and market conditions prevented the construction of the project during the original approval period. •Purchase of property from previous owner •Restructuring of financing and contracts for for-sale units rather than rental including on -site affordable units •Challenges due to Covid-19 pandemic emergency with construction supplies and subcontractor availability during the shutdowns Criteria for approval of extension (C) Additional Conditions: As part of a hearing to consider an extension, the planning board may impose additional conditions on the applicant in order to ensure compliance with any amendments to Title 9, "Land Use Regulation," B.R.C. 1981, enacted after the date of the original approval. •Since the Use Review approval; no Use Review criteria were added or changed that would impact this application. •Any additional criteria could add expenses that would jeopardize the viability of the on -site affordable and for-sale units. •Staff finds the project remains consistent with the Use Review Criteria of section 9-2-15(3) and the Conditional Use Review criteria of section 9-6-4(f), B.R.C. 1981 without imposing additional conditions. Questions for Staff?