Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Execute a Development Agreement for Erwin Farms Phase 3 Between the City of McKinney, Texas, and CADG Erwin Farms, LLC Generally Modifying the Timing of Roadway Construction and Updating Development Exhibits, Generally Located on the South Side of Bloomdale Road, North of Wilmeth Road, and West of Hardin Boulevard.
Summary
COUNCIL GOAL: Direction for Strategic and Economic Growth
(1A: Establish regional and infrastructure incentives to increase economic growth)
MEETING DATE: December 15, 2020
DEPARTMENT: Development Services
CONTACT: Gary Graham, P.E., Director of Engineering
RECOMMENDED CITY COUNCIL ACTION:
• Approval of the Resolution
ITEM SUMMARY:
• This item authorizes the City Manager to execute a Development Agreement for Erwin Farms Phase 3 with CADG Erwin Farms, LLC, generally to modify the timing of certain required roadway and water line construction for Phase 3 of the single-family development.
• The Texas Department of Transportation (TxDOT) is currently evaluating a route for a multilane limited access roadway (freeway) that would run across the current path of CR 164 (Bloomdale Road) and could impact the proposed development.
• The proposed freeway could impact 34 lots within Erwin Farms Phase 3.
• To allow development of Erwin Farms Phase 3 to move forward while TxDOT concludes its evaluation, this agreement will delay the development of those 34 lots for five years from the date of execution of the agreement.
• If TxDOT’s study concludes that the route of the freeway will not be along Bloomdale Road or TxDOT or Collin County has not purchased the 34 lots from Erwin Farms Phase 3 to preserve the ROW within five years, the developer would be allowed to develop the 34 lots.
• The agreement allows the developer to construct Bloomdale Road in its current location pursuant to a modified set of standards because it is expected the road will be removed when TxDOT constructs the freeway.
• The agreement also allows the developer to escrow funds for the construction of a 12-inch master-planned water line running along the south side of Bloomdale Road. The City will construct the water line after the exact alignment of the freeway is known.
BACKGROUND INFORMATION:
• TxDOT began the US 380 Feasibility Study, which identified Bloomdale Road as a possible corridor for the new freeway well after construction of the Erwin Farms development had begun and the plat had been approved.
FINANCIAL SUMMARY:
• N/A
BOARD OR COMMISSION RECOMMENDATION:
• N/A