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Home My WebLink AboutResolution No. PZ2024-01KENAI CITY OF KENAI PLANNING AND ZONING COMMISSION RESOLUTION NO. PZ2024-01 A RESOLUTION RECOMMENDING THAT PRELIMINARY PLAT FOR 5 D SUBDIVISION ATTACHED HERETO BE APPROVED. PROPERTY ADDRESS: 103 Birch Street LEGAL DESCRIPTION: Government Lot 170 KPB PARCEL NUMBER: 04317013 WHEREAS, the City of Kenai received a preliminary plat from Edge Surveying and Design, LLC on behalf of the property owner, Five D Investments, LLC for a 5-lot subdivision of Government Lot 170; and, WHEREAS, the preliminary plat does not meet the minimum lot width and minimum lot depth requirements as outlined in Kenai Municipal Code (KMC) Section 14.10.070(d)(2); and, WHEREAS, the applicant submitted an exception request for the lot width and lot depth standards; and, WHEREAS, the existing street names are referenced correctly; and, WHEREAS, the proposed lots will have access from Birch Street and First Avenue, both city - maintained roads; and, WHEREAS, City water and sewer lines are available to the lots; and, WHEREAS, an installation agreement is not required; and, WHEREAS, the Planning and Zoning Commission finds: 1. The exception request does not meet the criteria in KMC Section 14.10.090 Variations and exceptions; and, 2. A revised preliminary plat to a 4-lot subdivision, subject to the listed condition, generally meets KMC preliminary plat requirements and development requirements for the Suburban Residential (RS) zoning district; and, 3. Pursuant to KMC 14.10.070 Subdivision design standards, a revised preliminary plat to a 4-lot subdivision, subject to the listed condition, conforms to the minimum street widths, provides utilities/access easements, provides a satisfactory and desirable building sites, Resolution No. PZ2024-01 Page 2 of 2 and the on -site water and sewer systems will be subject to the regulatory requirements of the Public Works Department; and, 4. Pursuant to KMC 14.10.080 Minimum improvement required, the preliminary plat is a subdivision surrounded by existing or established improvements. Therefore, an installation agreement is not required; and, 5. Pursuant to KMC 14.24.010 Minimum lot area requirements, the preliminary plat meets City standards for minimum lot size in the RS zoning district; and, 6. Pursuant to KMC 14.24.020 General Requirements a revised preliminary plat to a 4-lot subdivision, meets City standards for minimum lot width/depth and access/utility easements. Compliance with the maximum lot coverage, maximum height, and setbacks will be reviewed during the building permit review. NOW, THEREFORE, BE IT RECOMMENDED BY THE PLANNING AND ZONING COMMISSION OF THE CITY OF KENAI, ALASKA: Section 1. That a revised preliminary plat of 5 D Subdivision for a 4-lot subdivision of Government Lot 170 be approved subject to the following condition. Revised the preliminary plat to subdivide Government Lot 170 into four (4) lots with dimensions equal to or greater than the minimum lot width and depth requirements outlined in KMC Section 14.10.070. PASSED BY THE PLANNING AND ZONING COMMISSION OF THE CITY OF KENAI, ALASKA, THIS 24TH DAY OF JANUARY, 2024. J 0Twait, Chbiirperson ATTEST: Meghan ibode u-, deputy City Clerk I I 1 I ' I I 1 I I I 1 I 1 I 1 1 1 I I t [. 1 F4b. 1 � 1 N� t rn I � I I I I I I I +7 1 I f'. 10' � I f a IF OWN b-Savr 01p) sr.t' •r_. sav -_ r sass 20"1' a M FOOT 13M-0E-VW OWCAM M 1 W $III'{5� SZB.77 BMS OF BMWOS PER (RI) KW11'461B BBB.{T 6RCH 57xcfr 09 FON RMT-W-W Oar,,'sw aso WXRZ) V oil z 7u pa XWO 65DA7"M ----------------T----------------- Qml 11.4 ' )(m) lu 1 m4 f I ej I 1 � 4 �1�j' I I • 0 s 9 1 BB ; 10 R pall m S � 4 V Ei 42 1.f s ":Sr 1 STAFF REPORT PLANNING &ZONING DEPARTMENT TO: Planning and Zoning Commission FROM: Linda Mitchell, Planning Director DATE: January 19, 2024 SUBJECT: Resolution No. PZ2024-01 — Preliminary Plat — 5 D Subdivision Request The applicant is proposing a preliminary plat to subdivide Government Lot 170 into five (5) lots. Staff Adopt Resolution No. PZ2024-01 recommending approval of Recommendation Preliminary Plat — 5 D Subdivision for a four (4) lot subdivision of Government Lot 170. Applicant: Edge Surveying and Design, LLC Attn: Jason Young P.O. Box 208 Kasilof, AK 99610 Property Owner: Five D Investments, LLC c/o Ken Dunbar Legal Description: Government Lot 170 Property Address: 103 Birch Street KPB Parcel No.: 04317013 Zoning District: General Commercial (CG), subject to change to Suburban Residential (RS) on February 2, 2024 (Ordinance 3383-2023) Surrounding Uses: North — Single -Family Dwelling; South — First Avenue; West — Residential Accessory Lot; East — Single -Family Dwellings SUMMARY The City received a preliminary plat from Edge Surveying and Design, LLC on behalf of the property owner for a replat of Government Lot 170 into five (5) lots. The subject parcels are located near the northwest intersection of First Avenue and Birch Street. The subject parcel is vacant. The applicant and property owner have expressed the proposed subdivision is intended for the development of a small affordable single-family dwelling on each lot. The rezone from General Commercial (CG) to Suburban Residential (RS) zoning district affecting the subject parcel was enacted under Ordinance 3383-2023 on January 3, 2024 with an effective date of February 2, 2024. The review of this preliminary plat was analyzed using the RS zoning district requirements since the proposed use is residential for the subdivision. The proposed preliminary plat meets the minimum lot size requirement of 7,200 square feet. However, the proposed lots do not meet the minimum lot width requirement of 60 feet and minimum depth to not exceed twice the minimum width (i.e., 120 feet). Therefore, the applicant has submitted an exception request for the minimum lot width and depth requirements. Kenai Municipal Code (KMC) Chapter 14.10 Subdivision Regulations states preliminary plats or replats must first be submitted to the City for review and provide recommendation to the Kenai Peninsula Borough Planning Commission. Furthermore, KMC Section 14.10.090 Variations and exceptions states that City Council may vary or modify such requirements in KMC Chapter 14.10 Subdivision Regulations so that the subdivider may develop their property in a reasonable manner, but at the same time, the public welfare and interests of the City and surrounding areas are protected and the general intent and spirit of these regulations preserved. ANALYSIS The proposed 5-lot subdivision meets the minimum lot size requirement of 7,200 square feet for the Suburban Residential (RS) zoning district. The subdivision has access off of Birch Street and First Avenue, both city -maintained roads. City water and sewer lines are available to serve the new lot along Princess Street. Improvements for road and service connections are established; therefore, an installation agreement is not required. The proposed 5-lot subdivision would require two (2) exceptions, a lot width exception and a lot depth exception. Otherwise, the proposed preliminary would not meet all the required subdivision design standards. The applicant has submitted an exception request for the lot width and lot depth. Below is a table with the required lot dimensions for residential lots less than 10,000 square feet and the proposed lot dimensions. Lot Width Lot Depth — Not exceed twice the minimum width 60 feet Not Applicable Not Ranges between 59.24 Applicable and 59.44 feet 120 feet Ranges between 131.77 and 132.09 feet KMC Section 14.10.070(d)(2) states "in platting residential lots containing less than 10,000 square feet, the depth of the block shall not exceed twice the minimum width allowed under the zone district in which the lot is located". The proposed lot size is 7,833.9 square feet. While the proposed lot width and lot depth does not meet the standards, it is not by much, such as the lot width is less than a foot from the minimum standard and the lot depth is approximately 12 feet over the maximum standard. Staff have reviewed all the lots from Fifth Court to First Avenue between N. Spruce Street and Floatplane Road, and there are approximately seven (7) lots that does not meet current standards for minimum lot width and/or minimum lot depth. These existing lots that does not meet current standards were subdivided in the 1960s or 1970s. Resolution No. PZ2024-01 Preliminary Plat 5 D Subdivision Page 2 of 4 When requesting for variations and exceptions to the KMC Chapter 14.10 Subdivision Regulations, the tract to be subdivided is of such unusual size or shape or is surrounded by such development or unusual conditions that the strict application of the requirements contained in the regulations would result in real difficulties, substantial hardship or injustice. Staff finds that the minimum lot width and minimum lot depth requirements would not impose a substantial hardship or injustice. The existing substandard lots within the surrounding areas were created prior to the adoption of Kenai's Zoning Ordinance. Therefore, staff does not find that the rationale of existing nonconforming lots of similar dimensions as the proposal is consistent with the criteria to approved or support an exception to the design standards in accordance with KMC Section 14.10.090. Staff is recommending the proposed preliminary plat be revised to reduce the number of lots from five (5) to four (4). The lot depth is not going to change and with the lot depth of approximately 132 feet, a lot width must be equal to or greater than 66 feet. If the number of lots is reduced to four (4), the lot dimension standards can be met without any exceptions. Staff finds that a revised preliminary plat to a 4-lot subdivision meets the following Title 14 of Kenai Municipal Code (KMC) sections and aligns with the intent of the Kenai Zoning Code. 1. Pursuant to KMC 14.10.070 Subdivision design standards, the preliminary plat for a 4-lot subdivision, subject to the listed condition, conforms to the minimum street widths, provides utilities/access easements, provides a satisfactory and desirable building sites, and the on -site water and sewer systems will be subject to the regulatory requirements of the Public Works Department. 2. Pursuant to KMC 14.10.080 Minimum improvement required, the preliminary plat is a subdivision surrounded by existing or established improvements. Therefore, an installation agreement is not required. 3. Pursuant to KMC 14.24.010 Minimum lot area requirements, the preliminary plat meets City standards for minimum lot size in the RS zoning district. 4. Pursuant to KMC 14.24.020 General Requirements, the preliminary plat for a 4-lot subdivision meets City standards for minimum lot width/depth and access/utility easements. Compliance with the maximum lot coverage, maximum height, and setbacks will be reviewed during the building permit review. STAFF RECOMMENDATION Staff finds that the proposed preliminary plat for 5 D Subdivision to subdivide Government Lot 170' into five (5) lots does not meet the general standards of Kenai Municipal Code (KMC), Chapter 14.10 Subdivision Regulations and Chapter 14.24 Development Requirements Table and the requested exceptions to the lot width and lot depth does not meet the criteria outlined in KMC Section 14.10.090 Variations and exceptions. However, staff finds that a revision to the preliminary plat to subdivide Government 170 into four (4) lots with dimensions equal to or greater than the minimum lot width and depth requirements outlined in KMC Section 14.10.070 Subdivision design standards meet the general standards of Kenai Municipal Code (KMC), Chapter 14.10 Subdivision Regulations and Chapter 14.24 Development Requirements Table and hereby recommends that the Planning and Zoning Commission recommends approval of Resolution No. PZ2024-01 for a four (4) lot subdivision of Government Lot 170 to Kenai Peninsula Borough, subject to the following condition. Resolution No. PZ2024-01 Preliminary Plat 5 D Subdivision Page 3 of 4 1. Revised the preliminary plat to subdivide Government Lot 170 into four (4) lots with dimensions equal to or greater than the minimum lot width and depth requirements outlined in KMC Section 14.10.070. ATTACHMENTS Aerial Map Preliminary Plat, 5 D Subdivision Requested Exceptions Application with Certificate of Plat and Supplement Document Ordinance 3383-2023 Resolution No. PZ2024-01 Preliminary Plat 5 D Subdivision Page 4 of 4 KENAI Resolution PZ2024-01 Preliminary Plat 5 D Subdivision 103 Birch Street Date Printed, 1I19??,1)41 N Map for Reference Only NOT A LEGAL DOCUMENT 0 75 150 300 Feet _ u FM R1GR-W-YAW O[OICAM MS PUT jppIV45-E 329.77 BWS OF BUAM PER (RI) MOV11'4WW W.47 BVRCH5MU Od FOW M"-W-W Q1oP11WO e5mm-AR2I pov1136Y mRA]'X0.11 pmvn'uti &SL3V)0A1 ------------------------- ------- ---- --------------- I A I I I !, q 9,4 pit F 1►gg�e g; $$ Rq�dI994 V @eG P dif F,,;, 1€ s 1 o a l T. I I Rl V F— FR y s co Cv� €3 € oil It 5D Subdivision Exception to KMC 14.10-070(d)(2). In platting residential lots containing less than ten thousand (10,000) square feet, the depth of the block should not exceed twice the minimum width allowed under the zone district in which the lot is located. Findines: 1. Lots exceed the 2:1 depth to with ration by 12 feet, with a current design ratio of 2.2:1. 2. All lots are over 7,200 square feet, minimum area per code. 3. The parent parcel dimensions limit the design options to create 5 parcels. 4. The exception to this code allows for 5 parcels to be created instead of 4 parcels. Developer plans to build small affordable homes on each of the 5 lots. With the limited supply of small affordable homes, one more parcel means one more family can own a home in the City of Kenai. RFCFIVED r CITY OF ' Preliminary Plat OCT Submittal For r� Plan g dt ENAI City of Kenai Planning and Zoning Department 210 Fidalgo Avenue Kenai; AK 99611 (907) 283-8200 oohing planning@kenaicity www. ke na i _ ci Wp la n n i ng s Name: Edge Survey and Deskgn, Jason Young Mailing Address: PO Box208 City: I Kesibf I State: I AK jZjP Code: 199610 Phone Number(s): 907-283-9047 Email: jasonQedgesurvey.net Name: 5 D Investments LLC. - Ken Dunbar Mailing Address: PO Box 969 1 City: I Kenai State: I AK I Zip Code: 199611 Phone Number(s): 1-907-947-3000 Email: kdunbar@kendunbarandsons.com Kenai Peninsula Borough Parcel #: 104317013 Current City Zoning: General Commercial Use: El Residential ❑ Recreational ❑ Commercial ❑ Other: Vacant 8 On Site ❑ City ❑ Community Water: Sewer. El On Site ❑ City ❑ Community 5 D Subdivision Preliminary Plat Name: Revised Preliminary Plat Name: Vacation of Public Right -of -Way: ❑ Yes a No Street Name (d vacating ROW): Exceptions Required and Requested: None Comments: ". T I I I9 R Certificate to Plat (1) 24" x 36" Plat d (2)11" x 17" Plats Signature: — Date: Print Name: Ken Dunbar TitwBusiness: Stewart TU& of the nai ftnin=4 Inc. 36681 Kenai Spur Hwy., Unit B Soldotna, AK 99669 Tel: (907) 260-8031 Fax: (907) 260-8036 CERTIFICATE TO PLAT Edge Survey and Design, LLC. PO Box 208 Kasilof, AK 99610 Attention: Jason Young Gentlemen: This is a certificate as of October 08, 2023 at 8:00 A.M. for a plat out of the following properly: File Number: 23492 Premium: $250.00 Tax: Government Lot 170, Section 31, Township 6 North, Range 11 West, Seward Meridian, Kenai Recording District, Third Judicial District, State of Alaska. The Company certifies that record title is vested in Five D Investments LLC an estate in fee simple, free from all liens, encumbrances, and objections except for as follows: 1. RESERVATIONS and exceptions as contained in U.S. Patent, and/or acts authorizing the issuance thereof. 2. RESERVATIONS AND EXCEPTIONS as contained in Mineral Patent from the United States of America to the State of Alaska Recorded: September27, 1982 Volume/Page: 1941764 FURTHER, no other examination of the excepted title to minerals has been made herein and no insurance nor responsibiCd therefore is implied or assumed. 3. TAXES AND ASSESSMENTS, if any due the tarring authority indicated Taxing Authority: City of Kenai 4. TAXES AND ASSESSMENTS, if any, due the taxing authority indicated: Taxing Authority: KENAI PENINSULA BOROUGH 5. EASEMENT for electric lines or system and/or telephone Ides together with right to enter, maintain, repair and clear shrubbery: Recorded: December 31, 1963 Volume/Page: Misc. i1P205 and Assigned by Instrument recorded December 31, 1963 in Misc. Book 11 at Page 188. 6, AN OIL AND GAS LEASE affecting the above interest under the terms, covenants and conditions therein provided: Lessor State of Alaska Le J. Benjamin Johnson Recorded: March 7, 2011 Serial No.: 2011-002197-0 FURTHER, no other examination of the excepted title to minerals has been made herein and no insurance nor responsibility therefore is Implied or assumed. Certificate to Plat Ke1 File No.: 23492 7. A RIGHT-GFWAY, not to exceed 33 feet in width for roadway and public utilities purposes to be located along the South and East boundaries of said land, as disclosed in Patent recorded December 30, 1958 in Book 10 at Page 108, 8, RIGHT, TITLE AND INTEREST of the public and/or government agencies in and to any portion of said land included within the boundaries of Birch Street and First Avenue. Stewart Title of the Kenai Peninsula, Inc. Authorized Signator NOTE: We will update this certificate to comply with Kenai Peninsula Borough Ordinance 90-38 upon notification from surveyor. CerUUcM W Plat KB1 Fib No.: 23492 OPERATING AGREEMENT OF FIVE D INVESTMENTS LLC This Operating Agreement is made and entered effective as of the 271h day of July 2023, by and between KENNETH L. DUNBAR, PATRICIA E. DUNBAR, CLAYTON J. DUNBAR, and IMMETH M. DUNBAR (each sometimes referred to herein individually as "Member" and collectively as "Members"). The Members have caused to be formed an Alaska Limited Liability Compaq and desire to set forth certain operation provisions as provided herein. The Members hereto agree as follows: 1. The name of the Company is Five D Investments LLC (sometimes referred to herein as the "Company"). 2. The Members hereby agree to form and operate the Company under the terms and conditions set forth herein, and as provided in the Company's Articles of Organization. Except as otherwise provided herein and the Articles of Organization, the rights and liabilities of the Members shall be governed by the Alaska Revised Limited Liability Act, AS 10.50, as amended (the "Act"), 3. A failure to observe any formalities or requirements of this Operating Agreement, the Articles of Organization for"the Company or the Act shall not be grounds for imposing personal liability on the Members for liabilities of the Company. 4. The Members have formed the Company under the Act, and expressly do not intend hereby to form a joint venture or a partnership under either the Alaska Uniform Partnership Act or the Alaska Uniform Limited Partnership Act, or a corporation under the Alaska Corporations Code. The Members do not intend to be partners one to another, or partners as to any third party. The Members hereto agree and acknowledge that the Company is to be treated as a partnership for federal -and state income tax purposes. 5. The Company has been organized for the purpose of engaging in activities related to real property auud any other lawful activity. 6. Subject to the provisions of this Operating Agreement and the Act, the Company shall have the following powers: (a) To conduct and operate the business of the Company and to execute documents and instruments relating to the Company business, including, but not limited to agreements, notes, leases, contracts and other documents. (b) To obtain short or long-term borrowings as reasonably necessary for the business of the Company. (c) To procure and maintain insurance covering the various risks to which the Company or its operations may be subject. FIVE D MUMSTMEWS LW PAGE 1 OF 6 (d) To open bank accounts in the name of the Company, designate the authorized signatuues therefor and make deposits and withdrawals from Company accounts -on the signatures of one or more designated individuals. (e) To pay expenses incurred in perfomring the business and purposes of the Company. (f) To employ, discharge and pay the compensation of accountants, lawyers, and others wbose services are required or necessary. (g) To prosecute or defend, as the case may be, suits, arbitration or administrative proceedings asserted against or brought on behalf of the Company. (h) To acquire and dispose of real and personal property and interests therein. (i) To do all things necessary, incidental or convenientto the exercise of the foregoing powers or to the accomplishment of the Company's purposes. 7. This Operating Agreement is entered into among the Company and the Members for the exclusive benefit of the Company, its Members and their successors and assigns. This Operating Agreement is expressly not intended for the benefit of any creditor of the Company or any other person. Except and only to the extent provided by applicable statute, no such creditor or third party shall have any rights under the Operating Agreement or any agreement between the Company and any Member with respect to any contribution or otherwise. 8. All Company property shall be owned by the Company as an entity and no Member shall have any ownership interest in such property in the Member's individual name or right, and each Member's interest in the Company shall be personal property for all purposes. Except as otherwise provided in this Operating Agreement, the Company shall hold all Company property in the name of the Company and not in the name or names of any Member. 9. The principal office of the Company shall be located in or around Anchorage, Alaska, or at such other place designated by the Members. The Company's mailing address and registered office address is c/o Reeves Amodio LLC, 500 L Street Suite 300, Anchorage, Alaska 99501. The Company's registered agent at such address is Thomas Amodio. The Company may have other places of business at any other place or places as the Members may from time to time deem advisable. 10. The initial capital contributions of the individual. Members and their respective percentage interest in the Company shall be as follows: Kenneth L. Dunbar 25.% Patricia E. Dunbar 25% Clayton J. Dunbar 25 % Kenneth M. Dunbar 25 % Any additional capital contributions shall be upon mutual agreement of the Members. The Company shall establish and maintain a capital account for each member in accordance with treasury regulations issued under Section 704 of the Code. F.aEcept as may otherwise be required by applicable law or as otherwise set out herein, net profits, net losses, and other items of income, gain, loss, deduction and credit shall be apportioned among the Members in proportion with their PIW D iNVESTMEWO LLC PAGE 2 of 6 respective percentage interests in the Company. From time to time, a majority of the Members may determine in their reasonable judgment to what extent, if any, the Company's cash on hand exceeds the current and anticipated needs, including, without limitation, needs for operating expenses, debt service, acquisitions, reserves, and mandatory distributions, if any. To the extent such excess cash is determined to exist, the excess cash shall be distributed to the Members in accordance with their percentage interests. 11. The Company shall be managed by its Members, unless the Members unanimously agree otherwise. Any member may sign on behalf of the Company in all of its business affairs, matters, and transactions with any parties or entities, including but not limited to financial imdtutiom and governmental entities. The Members shall make decisions requiring a vote by majority vote on the basis of their percentage interests. 12. The death, incompetence, withdrawal, expulsion, or ban1wuptcy, or the occurrence of any other event which terminates the continued membership of a Member in the Company, shall not cause a dissolution of the Company. Unless -the remaining Member or Members elect otherwise, the Company shall continue as a limited liability company. 13. Tax Matters.. 13. 1 Should there be any controversy with the Internal Revenue Service or any other taxing authority involving the Company, the Managing Members may expend such funds as they deem necessary and advisable in the interest of the Company to resolve such co=oversy satisfactorily, including, without being limited thereto, attorneys' and accounting fees. Kenneth Dunbar is hereby designated as the initial "Tax Representative" as referred to in Section 6223 of the Code (relating to designation of a "Partnership Representative % and is specially authorized to exercise all of the rights and powers now or hereafter granted to the Tax Representative under the Code. Any cost incurred in the audit by any governmental authority of the income tax returns of a Member (as opposed to the Company) shall not be a Company expense. The Members agree to consult with and keep eacb other advised with respect to (i)any income tax audit of a Company income tax return, and (ii) any elections made by the Company for federal, state or local income tax purposes. The Members agree that all decisions made by the Tax Representative hereunder wW be made in a manner consistent with applicable federal and state tax laws, with the intent of maximig return on investment hereunder. 15.2 For any tax year where it is permitted, the Managing Members may elect out of the new rules set forth in Sections 6221 through 6241 of the Code as amended by the Bipartisan Budget Act of 2015 ("New Tax Rules'). If the Managing Members opt not to elect out of the New Tax Rules, the Managing Members shall have the following rights to the same extent they applied before the New Tax Rules became effective: (a) the right to approve or to participate in tax -related actions of the Tax Representative; and (b) the right to be notified by the Tax Representative regarding tax -related events. 13.3. The Managing Members shall, at Company expense, cause the Company to prepare and file a Form 1065 US Partnership Return of Income and all other tax returns required to be filed by the Company for each fiscal year of the Company. FIVE D 1NVES ANNO LLC PAGE 3 OF 5 14. No Member shall have the right to transfer or assign that Member's membership interest to a non-member without the written consent of the non -transferring Member(s). - 15. No Member shall have, solely by virtue of such Member's status as a Member in the Company, any personal liability whatever, whether to the Company, to any Members, or to the creditors of the Company, for the debts or obligations of the Company or any of its losses beyond the amount committed by such Member to the capital of the Company, except as otherwise required by the Act 16. 'This Operating Agreement shall be effective as of July 27, 2023. 17. Definitions. The following teems used in this Operating Agreement shall have the meanings specified below: 17.1 "Act" means the Alaska Revised Limited Liability Act, AS 10.50, as amended from time to time. 17.2 "Agreement" or "Operating Agreement" means.this Operating Agreement of the FIVE D INVESTMENTS, LMT'ED LIABILITY COMPANY, as it may from time to time be amended. 17.3 "Articles of Organization" means the Articles of Organization pursuant to which the Company was formed, as filed with the Department of Commerce and Economic Development, State of Alaska, on July 6, 2023, as may be amended from time to time. 17.4 "Code" means the United Stag Internal Revenue Code of 1986, as amended. References to specific Code Sections or Treasury Regulations shall be deemed to refer to such Code Sections or Treasury Regulations as they may be amended from time to time or to any successor Code Sections or Treasury Regulations if the Code Section or Treasury Regulation referred to is repealed. 17.5 "Company" means the FIVE D INVESTMENTS LIMITED LIABILITY COMPANY as created and governed by this Operating Agreement, the Act and the Articles of Organization. 17.6 "Company Property" means all the real and personal (tangible and intangible) property owned by the Company, and all leasehold or like interests therein. 17.7 "Interest" or "Company Interest" means the ownership interest of a Member in the Company at any particular time, including the right of such Member to any and all benefits to which such Member may be entitled as provided in this Operating Agreement, the Articles of Organization, and in the Act, together with the obligations of such Member to comply with all the term and provisions of this Operating Agreement, the Articles of Organization, and the Act 17.8 "Member(s)" means the Members set forth in Section 10, or their respective successors or permitted assigns. FIVE D INVESr1 EMM LLC 17.9 `Net Income" or 'Wet Loss" means taxable income or loss (including items requiting separate computation under Section 702 of the Code) of the Company as determined using the method of accounting chosen by the Members and used by the Company for federal income flax purposm 17.10 "Percentage Interest" means the percentage interest of each Member as set forth in Section 10, as from time to time adjusted 18. Miscellaneous. 18.1 This Operating Agreement may be amended or modified from time to time only by a written instrument adopted and executed by all of the Members. 18.2 This Operating Agreement shall be govemed by the laws of the State of Alaska, without giving effect to principles or provisions thereof relating to choice of law or conflict Of laws. 18.3 This Operating Agreement shall be binding upon the successors, assigns, heirs, executors, personal representatives, and other legal representatives, as the case may be, of the Members as provided herein. 18.4 The failure by any party to object to a default under or breach of this Agreement or insist upon the strict performance of any duty or obligation of any other party shall not constitute a waiver, either express or implied, of the right to do so in the future. 18.5 The invalidity or unenforceability " of any particular provision of this Agreement shall not affect the remaining provisions hereof, and, in any such event, this Agreement shall be construed and interpreted in all respects as if such invalid or unenforceable provision were omitted. 18.6 Section headings have been insetted solely for the convenience of the parties and shall not be considered a part of this Operating Agreement for interpretation or construction. 18.7 For the convenience of the parties hereto, this Operating Agreement may be executed, including by facsimtie signature, in one or more counterparts, each identical to the other, so long as the counterparts in a set contain the signatures of all the parties to this Operating Agreement. IN WITNESS WHEREOF, the Members have executed this Operating Agreement effective as of the date first written above. Kenneth L. Dunbar Patricia E. Dunbar R p yr o PAGE 5 OF 6 Clayton J. iY6 nbar FIVE D nMSTMENTS LLC rnneth M. Dunbar PAGE 6 CF 6 r KENAI CITY OF KENAI ORDINANCE NO.3383-2023 Sponsored by: Administration AN ORDINANCE AMENDING THE OFFICIAL ZONING MAP BY REZONING ALL PARCELS WITHIN THE LETZING 1985 SUBDIVISION (PLAT NO.85-55) AND GOVERNMENT LOT 170 FROM GENERAL COMMERCIAL (CG) TO SUBURBAN RESIDENTIAL (RS) ZONING DISTRICT. WHEREAS, all parcels within the Letzing 1985 Subdivision plat and Government Lot 170 are currently zoned General Commercial (CG); and, WHEREAS, the City of Kenai received a rezone application from the majority of property owners in accordance with KMC 14.20.270 Amendment procedures; and, WHEREAS, the CG zoning district allows for the widest range of commercial and industrial uses compared to other commercial zoning districts and the existing CG zone is not a compatible land use for this area since there are existing residential uses to the north and east of the proposed rezone area and an existing single-family dwelling in the proposed rezone area; and, WHEREAS, the proposed rezone to RS would align with the current low to medium density residential character of the neighborhood; and, WHEREAS, the land use classification is Mixed -Use, which envisioned a compatible mix of residential and commercial uses but It is desired by the property owners and supported by nearby residents that it should be rezoned to residential; and, WHEREAS, the rezone is consistent with the Imagine Kenai 2030 Comprehensive Plan and aligns with the Land Use Plan and addresses Goal 1 — Quality of Life: Promote and encourage qualify of life in Kenai; and, WHEREAS, at their regularly scheduled meeting held on November 8, 2023, the City of Kenai Planning and Zoning Commission voted unanimously to recommend the subject properties be rezoned from General Commercial to Suburban Residential zoning district. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, AS FOLLOWS: Section 1. Amendment of City of Kenai Offici@l Zoning Maw: That City of Kenai, Official Zoning Map is hereby amended as follows. Rezone all parcels within the Letzing 1985 Subdivision plat (Plat No. 85- 55) and Government Lot 170 from General Commercial (CG) to Suburban Residential (RS) zoning district. Section 2. Severabllity: That If any part or provision of this ordinance or application thereof to any person or circumstances is adjudged invalid by any court of competent jurisdiction, such judgment shall be confined in its operation to the part, provision, or application directly involved in all controversy in which this judgment shall have been rendered, and shall not affect or impair the validity of the remainder of this title or application thereof to other persons or circumstances. The City Council hereby declares that it would have enacted the remainder of this ordinance even without„ such part, provision, or application. New Te)d Underlined; [DELETED TEXT BRACKETED] Ordinance No. 3383-2023 Page 2of2 Section 3. Effective Date: That pursuant to KMC 1.15.070(f), this ordinance shall take effect 30 days after enactment�- ENACTED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA' HIS 3RD DA F JANUARY, 2024. �/ ATTEST: l ichole Ws4nelr, MMC, City Clerk Henry Knacks(edt, r' Introduced: Enacted: Effective: New Te)d Underlined; [DELETED TEXT BRAcKErED] Vice May December 20, 2023 January 3, 2024 February 2, 2024