Discussion and possible action to approve a Replat of Lake Pleasant Towne Center, Parcels 6 and 7, and combine them as Lot 1A, located on the Northwest corner of Happy Valley Road and Lake Pleasant Parkway subject to stipulations.

The purpose of this Replat is to combine two existing parcels as part of the Lake Pleasant Town Center commercial subdivision into one parcel. This development is within the City’s water and sewer service area.

The Site Plan was reviewed by the City and completed on June 9, 2020 and no changes were made to the proposed Site Plan.

A: The Replat has been approved through the Development and Engineering Department. An option would be to not accept the proposed Replat; although it should be noted that not approving the Replat will prevent the Developer from developing this land.

B: The other option would be to formally approve the Replat and allow this parcel to be developed.

Staff recommends the approval and subsequent recordation of the attached Replat subject to the following stipulations:

1. All civil plans must be approved by the City of Peoria (City) prior to recordation of the Replat.
2. An approval of design from the Development and Engineering Department for the necessary improvements in accordance with the City Subdivision Regulations, as determined by the City Engineer, must be obtained prior to recording the Replat.
3. The developer must provide a financial assurance in the amount agreed upon by the City Engineer and an Agreement to Install for construction of the infrastructure improvements in accordance with the City Subdivision Regulations, prior to recordation of the Replat.
4. In the event that the Replat is not recorded within 60 days of Council approval, the Replat will become void. The developer may request re-approval from the City, with the understanding that the City has the option of imposing additional requirements or stipulations.

No fiscal impact.