Title
Public Hearing: Second Amended and Restated Master Plan for Industrial Development Projects (Chapter 100) for the Streets of West Pryor Development; Streets of West Pryor, LLC, applicant
Body
Issue/Request:
This is a public hearing to consider the Second Amended and Restated Master Plan for Industrial Development Projects for the Streets of West Pryor Development (the “Second Amended and Restated Chapter 100 Plan”) primarily to provide a three-year extension on the use of the sales and use tax exemption certificate for the purchase of construction materials for the remaining undeveloped lots through the end of 2027.
This document amends and restates the Master Plan for Industrial Development Projects for the Streets of West Pryor Development sent to taxing jurisdictions on November 28, 2018 (the “Original Chapter 100 Plan”), as previously amended and restated by the Amended and Restated Master Plan for Industrial Development Projects for the Streets of West Pryor Development sent to taxing jurisdictions on April 28, 2021 (the “First Amended and Restated Chapter 100 Plan,” with the Original Chapter 100 Plan, as amended by the First Amended and Restated Chapter 100 Plan being the “Existing Chapter 100 Plan”). This Second Amended and Restated Chapter 100 Plan amends and restates the Existing Chapter 100 Plan in its entirety.
Key Issues:
As stated in the Second Amended Plan, due to difficult market conditions, including high interest rates, high construction costs, and the initial project delays caused by the COVID 19 pandemic, there are three commercial lots in the Commercial Project (defined below) area that remain undeveloped:
- Lot 4A (approximately 0.91 acres) is a proposed drive-through restaurant south of the existing McKeever’s grocery store and medical/retail building, west of the multi- tenant Starbucks building, and bound by NW Lowenstein drive to the south and west.
- Lot 12 (approximately 2.49 acres) and
- Lot 14A (approximately 2.94 acres)...
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