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 Wanish Park Planned Unit Development, originally approved by the Planning, Building and Zoning Committee in 2008, contains 94 townhome and condominium units with ownership/occupancy age-restricted to individuals 50+ and sets aside approximately 50% in permanent open space.
• On July 13, 2010, per Section 151.191 of the Lake County, Illinois Code of Ordinances, the Planning, Building and Zoning 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 constraints, the original agreement has been extended multiple times and is currently set to expire on December 31, 2021.
• Wanish, LLC is requesting a two-year extension of the agreement to retain the viability of the subdivision approval. This extension will provide the time needed for the property owner to negotiate sale of the property to a developer. The sixth amendment to the agreement extends the expiration date to December 31, 2023. Staff recommends approval of the agreement amendment, as attached.