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REQUEST FOR <br />• • • r <br />NOVEMBER 25, 2013 <br />TITLE: <br />PUBLIC HEARING — SECOND AMENDMENT TO <br />DEVELOPMENT AGREEMENT NO. 1990.03 TO <br />ALLOW AN EXTENSION OF TIME FOR A PORTION <br />OF THE LAKE CENTER OFFICE PARK AT 3500 <br />WEST LAKE CENTER DRIVE <br />Prepared by _Vince Free oso - <br />• <br />APPROVED <br />❑ As Recommended <br />❑ As Amended <br />❑ Set Public Hearing For <br />DENIED <br />• Applicant's Request <br />• Staff Recommendation <br />CONTINUED TO <br />Executive Director Planning Manager <br />RECOMMENDED ACTION <br />Recommend that the City Council adopt an ordinance approving the second amendment to <br />Development Agreement No. 1990.03. <br />DISCUSSION <br />Request of the Applicant <br />Justin McCusker of C.J. Segerstrom & Sons is requesting approval of a second amendment to the <br />previously approved Development Agreement No. 1990 -03 in order to extend the term of the <br />development agreement for an additional 10 years. <br />Project Location and Site Description <br />The subject sites are located within the Lake Center Office Park, a master planned office complex <br />which is comprised of properties generally located on both sides of Lake Center Drive and Susan <br />Street. The Lake Center Office Park encompasses approximately 33 -acres of land that is currently <br />developed with commercial, office and school uses as well as several large vacant parcels. The three <br />vacant parcels that are the subject of this application total 10.455 acres and are located south of Lake <br />Center Drive on both the east and west sides of Susan Street. Two additional developed parcels <br />owned by the applicant are also subject to this application. <br />The site is surrounded by a combination of commercial, office, educational and industrial uses to the <br />north, south, east and west (Exhibits 1, 2 and 3). <br />Proiect Description <br />The applicant is requesting approval to extend the term of the previously approved development <br />agreement for the Lake Center Office Park by an additional 10 years. Currently, the development <br />agreement is set to expire in October 2015. No new development is proposed at this time for the <br />Lake Center Office Park. EXHIBIT A <br />75A -3 <br />