Exhibit 10 - Applicant’s Request for ExtensionSean Mullin, AICP Planning Manager Town of Los Gatos 110 E. Main Street Los Gatos, CA 95030
Re: Justification for Time Extension – 15860–15894 Winchester Blvd and 17484 Shelburne Way
Applications: S-21-008, U-21-010, V-21-003, M-22-008
Dear Sean,
We are requesting a one-year extension of the entitlements for the above-referenced
project. Over the past few years, rising interest rates and tightening capital markets have made
financing new construction challenging.
While recent market conditions favored acquiring existing assets, sentiment is shifting.
With potential interest rate cuts later this year, capital markets are showing renewed interest in
ground-up projects. An extension will allow us to proceed under more favorable financial
conditions and deliver the proposed assisted living and memory care facility responsibly.
Mark Pilarczyk
President, Development
SWENSON
mark@swenson.com
(408)335-5997
777 N. 1st Street, 5 h Floor, San Jose, CA 95112 408.287.0246 A Division of Green Valley Corporation License # 342751
EXHIBIT 10
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