Title
Consider/Discuss/Act on a Third Amendment to the 2012 Trinity Falls Master Development Agreement with Trinity Falls Holdings, LP
Summary
COUNCIL GOAL: Direction for Strategic and Economic Growth
MEETING DATE: October 17, 2017
DEPARTMENT: Development Services
CONTACT: Michael Quint, Executive Director of Development Services
Barry Shelton, AICP, Assistant City Manager
Mark Houser, City Attorney
RECOMMENDED CITY COUNCIL ACTION:
* Staff recommends approval of the proposed agreement amendments.
ITEM SUMMARY:
* After the November 2, 2016 approval of the Second Amendment to the Trinity Falls Development Agreement, the owner/developer of the Trinity Falls MUD (Trinity Falls Holdings, LP) approached Staff later that month to discuss additional amendments to the master development agreement pertaining to its proposed purchase of an additional 271 acres of land (the "Frazier Tract") to be annexed into the Trinity Falls MUD 2. The desired amendments would also be aimed at increasing the number of lots available for development, adding new residential product types not currently allowed in Trinity Falls, and clarifying other existing provisions.
* As such, the owner has worked with Staff on a third amendment to the 2012 Trinity Falls Development Agreement, allowing for the development of 1,024 additional single family residential lots, and adding certain commercial, and school/park sites on the "Frazier Tract" within the MUDs while also clarifying the parties' obligations, particularly in the fire services provisions in the Agreement. The proposed amendment also modifies and refines several other provisions of the previous agreement pertaining to the entirety of the MUD land area (both existing and potential future land) which are described below. The Third Amendment would not go into effect unless and until the Frazier Tract is purchased and annexed into MUD 2. If the Frazier Tract is not annexed by November 1, 2017, the Third Amendment is null and v...
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