Title
Committee action to amend an agreement extending the Final Plat approval date for the Wanish Park Planned Unit Development (PUD).
Staff Summary
• The Final Plat for the Wanish Park Planned Unit Development was originally approved by the Planning, Building and Zoning Committee in 2008. The project contains 94 townhome and condominium units with ownership/occupancy age-restricted to individuals 50+ and approximately 50 percent of the site is to remain in open space.
• In light of the economic downturn on July 13, 2010 in accordance with Section 151.191 of the Lake County, Illinois Code of Ordinances, the Committee entered into an agreement with the developer (Wanish, LLC) suspending the County’s approval of the Final Plat for Wanish Park PUD, which enabled the release of the development’s performance assurances. The agreement with the developer included terms for completing or terminating the subdivision process.
• Due to economic conditions, the original agreement was extended on June 13, 2012, on October 2, 2013, on September 1, 2015, and November 22, 2017 to its current expiration date of December 31, 2019.
• Wanish, LLC is requesting an extension of the agreement until December 31, 2021 to retain the viability of the subdivision. This extension will continue to allow a proposed developer sufficient time to explore potential development plans for the property while maintaining the viability of the development under the original plan.
• The fourth amendment approved in 2017 modified the terms of the agreement to require the stormwater management features of the original plan (including calculations) to be updated to reflect the regulatory requirements in effect at the time of permit application.
• The fifth amendment to the agreement extends the expiration date to December 31, 2021.
• Staff recommends approval agreement extension, as attached.