To: Honorable Mayor and Members of Town Council
Through: Tara Vargish, Assistant Director, Development Services
From: Donna Ferguson, Senior Planner, Development Services
Title
Resolution Approving the First Amendment to the Oaks of Castle Rock Development Agreement [located southeast of downtown Castle Rock, near and south of Plum Creek parkway, east of South Lake Gulch Road and west of Ridge Road]
Body
______________________________________________________________________
Executive Summary
Property owners, Castleview, LLC and Castle 13 LLC, are requesting to amend a Development Agreement (DA) for a residential neighborhood known as the Oaks of Castle Rock (Oaks) which is located south of Plum Creek Parkway between Lake Gulch Road and N. Ridge Road. (Figure 1). The amendment seeks to further define existing roadway and traffic control improvement obligations related to Plum Creek Parkway which are due by the Oaks to the Town. A Development Agreement is a legally binding contract between the property owner and the Town which requires review and approval by Town Council after review and a recommendation by Town staff. This request was continued from April 16, 2019 to allow time for Town Council to review the related traffic impact study.
Budget Impact
The proposed amendment to the DA will not have an impact on the budget.
Staff Recommendation
Staff recommends approval of the resolution approving the first amendment to The Oaks of Castle Rock Development Agreement.
Proposed Motion
I move to approve the Resolution as introduced by title on first and final reading.
Attachments
Staff Report
Attachment A: Resolution
Exhibit 1: Proposed Development Agreement Amendment
Attachment B: Map of planning areas
Attachment C: Traffic impact study