The purpose of the Final Plat is to reconfigure the four existing parcels into four new parcels to be developed for commercial use which will include two hotels. The development is within the City’s sewer and water service area.

The site plan (SP22-15) was reviewed by the City and approved in March 2023.  No significant changes were made to the proposed Final Plat. By splitting the parcel into the reconfigured four parcels, it will allow the developers to proceed with development according to the approved site plan.

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

1. All civil plans must be approved by the City of Peoria (City) prior to recordation of the Final Plat.

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 Final Plat.

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 Final Plat.

4. In the event that the Final Plat is not recorded within 60 days of Council approval, the Final Plat 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.