Consideration of a Resolution Approving Amendment One to the Lincoln School Addition, Tracts B and C Purchase and Development Agreement
On April 17, 2018, the City entered into a Purchase and Development Agreement with New Peak Construction, LLC for the purchase and residential subdivision development of Tracts B and C of the Lincoln School Addition. Within the agreement, it was required that the final plat of the subdivision be approved by the City Council within twelve months from the execution of the agreement, therefore, expiring on April 17, 2019.
On April 8, 2019, New Peak Construction Company, LLC submitted a written request for an amendment to the Purchase and Development Agreement to allow for a one-year extension for the approval of the Final Plat due to unforeseen circumstances.
Suggested Motion: I move to approve the Resolution granting and authorizing the execution of Amendment One to the Purchase and Development Agreement with New Peak Construction Company, LLC to allow for a one-year extension to receive subdivision final plat approval, expiring on April 17, 2020.