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The Honorable Dominic Yagong, Chairman <br />and Members of the County Council <br />Page 4 <br />retention of quality agricultural lands dedicated to agricultural use in perpetuity to <br />increase opportunities for diversified agriculture, it would be more prudent to review new <br />change of zones under such goals or objectives. In this situation, the applicant merely <br />seeks an extension of time to complete a project previously approved for development. <br />Various changes in land ownership have not facilitated the timely completion of this <br />project, and the unstable economy has battered the real estate market which, in a long run, <br />has had a negative impact on this development. The financial markets have also been <br />negatively impacted, and lenders are more cautious and financing more difficult to obtain. <br />Thus, the inability to complete the project in a timely matter is by no means the fault of <br />the applicant, as unpredictable forces cannot be foreseen. The applicant has stated that all <br />existing conditions will be satisfied, and hopes to see the project to fruition if granted an <br />extension of time. <br />Agencies consulted had no major concerns on the request. The Department of <br />Water Supply has stated that the water commitment for this project (Subdivision No. 95- <br />119) expired on September 30, 2006 and recommends the remittance of additional funds <br />to effect a water commitment for the proposed subdivision. <br />Based on the above findings, the proposed amendment to Ordinance No. 95 98 is <br />not contrary to the original reasons for approval of the change of zone. The Planning <br />Director proposes that existing conditions in the ordinance be revised to reflect the <br />current standard language for conditions of approval and recommends that a favorable <br />recommendation be forwarded to the County Council. <br />For your favorable consideration, an amendment to Ordinance No. 95 98 is transmitted. <br />