Information regarding delays in Town Center development

This information was provided by the Wayland Housing Partnership in conjunction with their press release on the MUOD Warrant Article for Special Town Meeting on 11/18/09.
 
From January 24 2008 Final Master Special Permit on Town Website—Planning Board
 
Commencement of Construction.
a. Commercial Component. Construction of the nonresidential
and non-municipal portion of the MUP (the
“Commercial Component”) shall commence prior to
expiration of the lapse period pursuant to Condition
IV H.3 below (the “Commercial Start Date”), provided
that the Applicant, at its election, may extend the
Commercial Start Date for up to five (5) extensions of
one (1) year each effective upon notice to the Board
stating that construction must be delayed due to
market, leasing, financing, environmental or other
conditions or the unavailability of permits and
approvals or appeals thereof, which conditions or
permitting issue shall be identified in such notice.
The Applicant shall provide such additional publicly
available information with respect to the reason for
any such delay as the Board may reasonably request. In
the event of any such extension, approximately six (6)
months into the extension period, at the Board‟s
request, the Applicant shall provide the Board an
update of the market or other conditions by reason of
which such extension was exercised. Construction of
buildings containing not less than eighty percent
(80%) of the gross floor area of the Commercial
Component shall be commenced not later than two (2)
years after the issuance of a certificate of occupancy
for the food store in Building Envelope V.
Construction of buildings containing not less than
ninety percent (90%) of the gross floor area of the
Commercial Component shall be commenced not later than
three (3) years after the issuance of a certificate of
occupancy for the food store in Building Envelope V.
 
b. Residential Components.
 
(i) Construction of the upper floor(s) dwelling
units to be constructed above first-floor
commercial building space shall commence and
be substantially complete at the same times as
the commercial building space below them.
 
(ii) In Building Envelope II, the first residential
building to be constructed shall be located in
the southeasterly portion of Building Envelope
II adjacent to the Public Green near Street
“B”. Construction of such first residential
building shall commence not later than that
date which is one (1) year after issuance of
the first building permit for construction of
any portion of the Commercial Component (the
“Residential Start Date”). Construction of
all buildings to be constructed in Building
Envelope II shall commence not later than six
(6) years after the Residential Start Date
(the “Final Residential Start Date”).
Notwithstanding the foregoing, the Applicant,
at its election, may extend the Residential
Start Date for one (1), one (1)-year extension
and/or the Final Residential Start Date for
one (1) or more extensions of one (1) year
each, but the Applicant shall not have the
right to so extend the Final Residential Start
Date beyond January 1, 2020. Each such
extension shall be effective upon notice to
the Board stating that construction must be
delayed due to market, sales or leasing
absorption, financing, environmental or other
conditions or the unavailability of permits
and approvals or appeals thereof, which
conditions or permitting issue shall be
identified in such notice. The Applicant
shall provide such additional publicly
available information with respect to the
reason for any such delay as the Board may
reasonably request. In the event of any such
extension, approximately six (6) months into
the extension period the Applicant shall
provide the Board an update of the market or
other conditions by reason of which such
extension was exercised.
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