ST8804-CS 900606 JUN - 7 i990
UNIVEST DEVELOPM[N'~ COMPANY
June 6, 1990
Alan Ratliff
Cily Manager
Cily of Coppell
255 Psrkway Boulevard
Coppell, Texas 758,,,19
Re: Preliminary Piat Park Place ^dditior'~
Dear Mr, Raft;fi:
On or about December 12, 1989 the City Council of Coppeil ~ppro~,ed the Preliminary Plal for
the Park Place Addition, an 88 ici single fami:y subdivlsioq located on the north side of Sandy
Lake Road, As you know the current owner of that land i$ ABQ Developmen~ Corp. which is a
subsidiary of a savings bank in New Mexico ~h~ch was taken over by t~e Resolution Trust Corp.
on or around February, 1, 1990, Due to the RTC takeover, ou: contract of sale with ABQ for the
[and has experienced slgnific&n! del~,'s. This has been further complicated by the fact lhat ABQ
was originally lo build t-leartz Road as a pad of Our land Contract as weq as pursuant lo other
obligations between ABQ Deveiopmenl Corp. arid the Parks of Coppell Joint Venture.
In order for us to proceed with our land contract, il has become a condition of this transaclion
imposed by the RTC for our company to take ovcr the construction of Hearlz Rd, As you know wa
have previously me! with ~f',e City and requested Informatlon so we may make an informed
business declsion regarding the City's req~iremer¢, for Headz Rd., some of which is still In
process.
The purpose of this !e~ler Is to formally req;.¢est that the City Council extend any automatic
termination date of the Park P!aoe Preliminay Plat to December 31, 1990 to allow sufficient
time to complete tho land acquisition and submit to the city the required final engineering and
plat. While we do not think that it wi;i take th&t long for the final platting of Park Place to
commence, I would prefer to nc.,i have 1o ask for further extensions a~. a later date. Please make
our request known to lhe Coppe!l Oily Council a! the earliest available time Fi[nd let me know if
you need anything further fo'con me, (i,*.clodin(~ appearance at a meeting) other lhan Ibis loller
formally requesting ,,he Preliminary, Plat e×lension.
Yours very truly,
Unlvest Development Co,
Michael R. Allen, Pre&idcnl
Mark Wolfe
Richard Doo!ey
Stan St;ickman, ABQ Deve!opmen[ Corp.