Title
Resolution to Approve Plymouth Green Crossings PUD Amended Development Agreement, 3391 Plymouth Road
Memorandum
Attached is a resolution to approve the Amendment to the Plymouth Green Crossings PUD Development Agreement. The development agreement will amend the payment schedule for the affordable housing contribution. Approval of this resolution will extend the payment period until December 31, 2012.
Background Information
The Plymouth Green Crossings PUD was approved in 2005. The project included residential units, which were not permitted by the previous zoning district (Research). As required in Chapter 55 (Zoning), PUD’s which propose residential units in excess of what is allowed under the previous zoning district are required to provide affordable housing units or a payment in lieu of providing these units on-site. The petitioner agreed to make a $315,000 payment to the Affordable Housing Trust Fund in lieu of providing 5.25 on-site units. In 2008, the petitioner proposed amending the original development agreement to allow the affordable housing contribution to be paid incrementally instead of in a lump sum. Council approved this amendment.
The petitioner had originally designed and marketed the residential units on the site for condominiums. Construction began as Pfizer announced it was leaving Ann Arbor and the strength of the region’s economy began to decline. After months of unsuccessfully attempting to sell condominium units, the petitioner decided to begin leasing them. The inability to sell the units reduced the petitioner’s cash flow and the ability to pay the affordable housing contribution. The petitioner has paid $60,000 to date.
Staff Recommendation
The proposed amendment to the Plymouth-Green Crossings development agreement spreads payments over the next three years. The Office of Community Development has indicated support for the proposed payment schedule. Staff recognizes the unique economic constraints facing develo...
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