Title
Consider/Discuss/Act on the First Modification to the Second Amended and Restated Development Agreement Between the City of McKinney and D.R. Horton - Texas, LTD., Blue Star Coit 32, LLC and 206 McKinney, LLC
Summary
MEETING DATE: May 20, 2014
DEPARTMENT: Development Services
CONTACT: Michael Quint, Director of Planning
Mark Hines, PE, Director of Engineering
Barry Shelton, AICP, Interim Deputy City Manager
Mark Houser, City Attorney
RECOMMENDED CITY COUNCIL ACTION:
* Approve the proposed Modification to the Second Amended and Restated Development Agreement governing the Custer West development.
ITEM SUMMARY:
* D.R. Horton - Texas, LTD., Blue Star Coit 32, LLC and 206 McKinney, LLC ("The Applicant") has requested that the City of McKinney execute a modification to the existing amended development agreement which will allow it to construct up to 200 single-family residential structures concurrent with their work towards completion of key roadway construction in the area known as Westridge, including the construction of some additional components of roadways/infrastructure not contained in the current agreement.
* Specifically, the proposed modification requires the applicant to forego the construction of up to 200 single-family residential structures in the area generally located north of Virginia Parkway and east of Coit Road. The referenced 200 residential structures are currently allowed per the existing agreement. However, the proposed modification will allow the construction of up to 200 single family residential units in the areas generally located south of Virginia Parkway and west of Independence Parkway while construction on portions of Virginia Parkway and Independence Parkway are concurrently underway. No more than 200 permits may be issued until the specified portions of Virginia Parkway and Independence Parkway are completed and accepted by the City. Also, these specified portions of roadway must be comp...
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