Submitted By
Emily A. Egan, Development Services Director
Reviewed By
Erin E. Baynes, Assistant to the Village Manager
Agenda Item Title
Title
An Ordinance Granting an Extension of Time to Complete Construction of the Planned Development at 640-728 Madison Street (Pete's Market) to Sixteen Months after the Permit Date as Defined in the Sixth Amendment of the Redevelopment Agreement
End
Overview
Overview
This request is to allow sufficient time for the commercial development to be completed. This item is in conjunction with ORD 24-143 regarding a Sixth Amendment to the Redevelopment Agreement. End
Recommendation
Recommendation
Approve the Ordinance to allow an extension of time for the completion of the previously approved Planned Development construction. The Applicant requests an extension from June 30, 2024, to sixteen (16) months after the "Permit Date" as defined in the Sixth Amendment of the Redevelopment Agreement.
Background
The Village Board approved this Planned Development with Ordinance 21-16 at their February 16, 2021 meeting. The Village Board approved an extension of the Planned Development at their January 17, 2023 meeting with Ordinance 23-2.
The applicant and developer of the Subject Property have experienced delays in beginning construction due to COVID-19 pandemic, supply chain issues, and relocation of underground utility work which impacted the development and completion of design drawings.
Fiscal Impact
The applicant will owe a fee to the Village in the amount of $2,000 for an extension of the Planned Development Ordinance.
DEI Impact
N/A
Alternatives
The Board can choose not to Adopt the Ordinance.
1. This would make the current Planned Development Ordinance null and void.
2. Any new such proposal would be required to proceed through the Planned Development application process.
Previous Board Action
The Village Board approved this Planned Development at their February 16, 2021 meeting.
The Village Board approved...
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