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OMMUNITYGROWTH City Of <br /> I N S T I T U T E Pequot _ <br /> Experts in Small Town Planning <br /> `- STAFF REPORT <br /> Application: Final Plat of CIC 1079,Wilderness Resort Villas <br /> Applicant: Wilderness Resort Villas, LLC <br /> Agenda Item:3(a) <br /> Background Information: Wilderness Resort Villas was approved for a Conditional <br /> Use Permit and Preliminary Plat by the City Council in May of 2oo8. The applicant is <br /> now submitting the Final Plat,which is that last stage in the subdivision process. <br /> Since the July meeting we have received the vacation submittals for review by the City <br /> Council and the independent plat check has been completed. We are still waiting for the <br /> title work to be completed, which will need to be finalized by the City Attorney following <br /> the vacation. It has already been preliminarily accepted,pending the vacation. <br /> The development being proposed continues to be a rent-back ownership situation where <br /> investors purchase individual cabins. Both the cabin and the land immediately under <br /> the cabin are sold. The remaining common space is owned by all cabin owners and is <br /> managed by the resort association. <br /> The individual cabins are managed as a resort with all resort features and amenities <br /> including an on-site resort manager. This arrangement continues in perpetuity with all <br /> future investors. <br /> Applicable Regulations: To obtain final plat approval, an applicant must fulfill the <br /> final plat requirements contained in the Ordinance and must also meet any conditions <br /> Pequot Lakes Staff Report 3(a)-1 <br /> August 21,2008 <br />