The URL can be used to link to this page

Home My WebLink AboutCC - Narrative RIG BY WATr REAL EVATE • RNANCIALA011 MY • VENTURECAPITAL November 27, 2023 Ms. Sonya Allen,Associate Planner City of Meridian Community Development Department 33 E. Broadway Ave., Ste. 102 Meridian, ID 83642 RE: Watts Meridian Medical Partners Subdivision—Meridian,ID Development Agreement Modification Application Dear Ms. Allen, On behalf of Reves LLC,the current property owner,located at 909 South Allante Place,Boise,ID 83709,1 am pleased to submit the attached application and required supplements for a development agreement modification for the forthcoming Watts Meridian Medical Partners Subdivision via short plat application. Site and Background Information The subject property is approximately 2.53 acres and is currently comprised of one parcel,identified as parcel number F.1 d, J 'I' i 7. £Ore 1-d F, - — a R6819240215 and addressed as 1256 South Rackham Way in Meridian(the"Property'). The Property is located within the Eagle Commons at Overland complex. The site is located, as shown above, directly east of the I-84 on ramp abutting Rackham Way, south of Flatiron Lane,north of vacant land and west of the Wood Spring Suites Meridian located at 1262 S. Rackham Way in Meridian. 4571 South Holladay Blvd.,Holladay,UT 84117—www.rigbbMatts.com Currently the Property is subject to that certain Development Agreement,which is Instrument No. 2016- 106278 recorded in the records of Ada County on November 2,2016(the"Original Development Agreement") entered into by and between City of Meridian,a municipal corporation of the State of Idaho and James L. Kissler, LLC("Prior Owner") on November 1,2016. On April 9,2019,Prior Owner entered into an addendum to the Original Development Agreement which is Instrument No. 2019-028379 recorded in the records of Ada County on April 10, 2019 (the"Amended Development Agreement"and together with the Original Development Agreement,the"Development Agreement")to further modify certain special provisions of the Original Development Agreement including the Proposed Conceptual Development Plan attached as Exhibit A.4 to the Original Development Agreement. This application proposes to further modify the Amended Development Agreement specifically as it relates to"Exhibit A—Conceptual Development Plan"to allow the applicant the opportunity to develop and construct two separate buildings on the Property rather than one single building as was currently proposed by Prior Owner as shown under"Bldg E. Commercial—CG"on Exhibit A of the Amended Development Agreement. Development Agreement Modification The Development Agreement, as amended, includes a provision and an exhibit, see Exhibit A attached hereto and incorporate herein,governing the overall conceptual development of various parcels of which the Property is included and highlighted in red for your convenience. This is the provision and the exhibit that we are requesting to amend solely as it relates to our Property, specifically: 5.1(a) The subject property shall develop in substantial compliance with the conceptual development plan included in Exhibit "A". The applicant requests that this specific condition be revised and modified to allow the Property under consideration to be developed to contain two separate buildings on the Property rather than one single elongated building as was contemplated by the Prior Owner in the Amended Development Agreement and laid out as such as Bldg E on Exhibit A attached thereto. The applicant is currently working with the City on all aspects of a short plat application to allow for the subdivision of the Property into two separate parcels to further accommodate this request to allow for flexibility in the development of the Property with the current land owner. Proposed Revised Condition 5.1 (a) The subject property, other than that certain property located at 1256 S.Rackham Way (the "Excluded Property') and identified as "Bldg E Commercial—CG"on Exhibit A, shall develop in substantial compliance with the conceptual development plan included in Exhibit `A". The Excluded Property shall develop in substantial compliance with that certain conceptual development plan included in Exhibit `B"attached hereto and incorporated herein by reference allowing for two separate buildings. Conclusion It is clear from the Original Development Agreement and its subsequent amendment,that the Prior Owner was making a"best efforts"guess when he filed the Original Development Agreement as to how the property surrounding his Norco facility would develop out over many years. His goals and motivations as it related to the overall development of the surrounding area changed however in 2019 when he submitted 2 to amend the Original Development Agreement to further accommodate his development plans by changing the conceptual development plan of the surrounding land. Following in his footsteps,the applicant requests to be able to do the same given applicant's views/goals of how its Property should be developed which do not align with Prior Owner's views/goals some four years ago. We appreciate your time in reviewing this application and for allowing applicant to bring forth this modification to the development agreement. Should you have any questions or require further information in order to process this application,please feel free to reach out to me directly. I can be contacted at 801- 755-9504 or at adarnkrigbywatts.com. Sincerely, Rigby Watts&Co., Adam I Watts Co-Founder/Partner 3 Exhibit A Amended Development Agreement Conceptual Development Plan EXHIBIT A Conceptual Development Plan a N ✓K 1 A■ ■��rr PI u k � �,�J i I S I I - r-� mi,t 8tlpd 4J 1 V C•nnmil Cd 1 Cer-rtltl LG I �� 1 a [ DflltfDf111fH1i Il fill IlI IIIQ III 111 UI III Q = - r G 3 � � o D q �JtIrCU Lill Itill l{7TC1-11IY4lMU Z L f ��{ �fln[ I ff�� l to ;Ilfll�KI 11 1 1i all $ � r�Tll Jl�1111 `�J 3ll 1 _ c 's ,e �-- I ]i p JFfTiTfTTzT� � � �1 y s 4 Exhibit B Conceptual Development Plan Related Solely to 1256 South Rackham Way -- — - o ---- --� - --�- - FLATIRONLN - - - - 13 �. y M. .. C f,V l G Ill na s9r e�RG�: I r r r r �I 2SB :2,2 PHASE FHA4E ] I_ _ ID a I I I ri IT 1[4 y9rt lei R9a[I _ _ I � 7D' 5