Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Execute a Development Agreement with Honey Creek Joint Venture II and a Development Agreement with McKinney Ranch, LTD, and Honey Creek Investments, LLC, Acknowledging Public Improvement Obligations and Requirements Necessary for Development of the Respective Tracts, Generally Located on the North and South Sides of FM 543 and on the East and West Sides of CR 201
Summary
COUNCIL GOAL: Direction for Strategic and Economic Growth
MEETING DATE: June 6, 2017
DEPARTMENT: Development Services
CONTACT: Brandon Opiela, Development Manager
RECOMMENDED CITY COUNCIL ACTION:
* Approval of the Resolution
ITEM SUMMARY:
* This item authorizes the City Manager to enter into a Development Agreement with Honey Creek Joint Venture II ("Agreement No. 1") for approximately 313 acres of land and a Development Agreement with McKinney Ranch Limited, LTD and Honey Creek Investments, LLC ("Agreement No. 2") for approximately 1,470 acres of land, which are both a part of the Cross "F" Planned Development, and currently governed by "PD" - Planned Development District Ordinance 1703 (attached).
* PD 1703 requires that a development agreement be executed between the Developer and the City of McKinney, prior to the occurrence of any platting or development on any portion of the property. As such, the respective Owners have requested approval of a development agreement to allow for the development of the properties.
* Both Agreement No. 1 and Agreement No. 2 have similar language stipulating that the future development of the properties will follow the City's Zoning Ordinance and land development ordinances, and requires the Owners to fund and construct roadway, utility, and other public improvements (including the dedications necessary for said improvements), as set forth in the City's Subdivision Ordinance, that are necessitated by the development of the property.
* As stated above, both agreements c...
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