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staff continue to work with the Grahams, the Park District and any other property owner along <br />existing Vineyard Avenue concerning access from that road to their properties. <br /> <br />The r011 Call vote was as follows: <br />AYES: Councilmembers Dennis, Michelotti, and Vice Mayor Pico <br />NOES: None <br />ABSENT: Councilmember Mohr and Mayor Tarver <br />ABSTAIN: None <br /> <br />Item 6g <br />Extension of subdivision agreement. Presley Companies. Laurel Creek EstateS. (SR95: 199) <br /> <br /> Mr. Lum presented the staff report. <br /> <br /> Ms. Dennis asked if the reversion to acreage would allow the developer to resubmit a <br />new plan. <br /> <br /> Mr. Lum answered yes. <br /> <br /> Brian Utsler, Presley Company representative, stated that the Company intends to build <br />the project. He stated that they are working with the Moller Ranch developers, who own <br />property adjacent to the Presley property, on the water system. It would like to begin to grade <br />the property in the spring, and hoped the Council would grant the extension. <br /> <br /> Rudolph Willey, also a Presley Company representative, stated they are looking forward <br />to the Laurel Creek Project. He stated that they have the financial capability but have been <br />waiting for the market to come back since property values have declined drastically since 1990. <br /> <br /> Ms. Dennis asked what will happen if the market doesn't come back. Does the Presley <br />Company have a contingency plan. Ms. Dennis stated that the Council wouldn't be willing to <br />give an extension indefinitely. <br /> <br /> Mr. Willey stated that one contingency plan was to have custom lots in addition to <br />production houses to offer more than one type of housing unit. He stated that they have also <br />been in discussions with other builders who might go in with them and purchase half the lots, <br />each building a different but complementary product. Mr. Willey stated that if the property is <br />returned to acreage, the Company would suffer a setback and loss of revenue and value. <br /> <br /> Mr. Pico asked if they would request a major modification to the PUD rather than let it <br />go back to acreage, if they wanted to redesign the project? <br /> <br /> Mr. Willey indicated yes. <br /> <br />06/20/95 -17- <br /> <br /> <br />