Park Place-CS 900606UNIVEST DEVELOPMENT COMPANY
June 6, 1990
Alan Ratliff
City Manager
City of Coppell
255 Parkway Boulevard
Coppell, Texas 75019
Dear Mr. Ratliff:
On or about December 12, 1989 the City Council of Coppell approved the Preliminary Plat for
the Park Place Addition, an 88 lot single family subdivision located on the north side of Sandy
Lake Road. As you know the current owner of that land is ABQ Development Corp. which is a
subsidiary of a savings bank in New Mexico which was taken over by the Resolution Trust Corp.
on or around February 1, 1990. Due to the RTC takeover, our contract of sale with ABQ for the
land has experienced significant delays. This has been further complicated by the fact that ABQ
was originally to build Heartz Road as a part of our land contract as well as pursuant to other
obligations between ABQ Development Corp. and the Parks of Coppell Joint Ven!?_e.
In order for us to proceed with our land contract, it has become a condition of this transaction
imposed by the RTC for our company to take over the construction of Heartz Rd. As you know we
have previously met with the City and requested information so we may make an informed
business decision regarding the City's requirement for Heartz Rd., some of which is still in
process.
The purpose of this letter is to formally request that the City Council extend any automatic
termination date of the Park Place Preliminay Plat to December 31, 1990 to allow sufficient
time to complete the land acquisition and submit to the city the required final engineering and
plat. While we do not think that it will take that long for the final platting of Park Place to
commence, I would prefer to not have to ask for further extensions at a later date. Please make
our request known to the Coppell City Council at the earliest available time and let me know if
you need anything further from me, (including appearance at a meeting) other than this letter
formally requesting the Preliminary Plat extension.
Yours very truly,
Univest Development Co.
Michael R. Allen, President
Mark Wolfe
Richard Dooley
Stan Strickman, ABQ Development COrp.
UNIVEST FINANCIAL CORP. ' ALLEN EQUITIES INO
'-~2 C~'T PC' · SLJ!TE ~2!5 . DALLAS TEXAS 752E, · 244 233 57.~
ITEM CAPTION:
SUBMII'I'ED BY:
EVALUATION OF
AGENDA REQUEST FORM
Oil"/ COUNCIL MEI~[Iti(; ,l,~e ?~; lqqn
Consideration of a request to extendthenormal nine month approval
limitation on a preliminary plat (known as Park Place
Addition) until December 31, 1990.
STAFF REP,.: Gary L. Sieb
OT~ REP.:
DATE:
This plat was approved by Council on December 12, 1989. On June 6, 1990,
staff received the attached letter requesting an extension of the approval --
which would normally expire in September -- to December 31, 1990. Although
generally opposed to such extensions, the letter does justify the reason for
the request, and staff would not offer any strong reason to deny the request.
BUDGET AMT.:
CO~ENTS:
AMT. ESTIMATED:
LEGAL REVIEW BY:
AGENDA REQ FOR~
0588DS
R~E~ED BY ~N: