HomeMy WebLinkAboutPZ - Narrative PRESERVE
WEST
CAPITAL
February 21, 2025
Bill Parsons
City of Meridian
Community Development Department
33 E. Broadway Ave #102
Meridian, ID 83642
RE: CUP Extension Application — Case No. H-2021-0006, TEC-2025-0001
Dear Bill,
This letter is to request a two-year extension of CUP Case No. H-2021-0006, which was initially
approved April 1, 2021 and previously extended through April 1, 2025. We are currently
requesting a two-year extension to expire on April 1, 2027.
We are requesting this extension due to delays caused by adverse market conditions, including
increased construction costs and limited tenant interest. The property was originally purchased
with the intent of leasing to Starbucks, but they ultimately decided not to proceed. Since then,
we have actively marketed the site and now have strong interest from a reputable regional credit
union looking to build a new branch. Their plan includes a drive-through, which is essential to
their operations.
We have worked diligently to identify a qualified tenant that aligns with the property's potential
and the community's needs, and we sincerely appreciate your consideration of this extension.
Sincerely,
MGM Meridian 2 LLC
Mike Maffia
www.preservewestcapital.com