Title
Consider/Discuss/Act on the First Amendment to the Honey Creek Annexation and Development Agreement between the City of McKinney and McKinney Ranch, LTD, Honey Creek Investments, LLC, and Barcelona 93, LTD
Summary
COUNCIL GOAL: Direction for Strategic and Economic Growth
(1C: Provide a strong city economy by facilitating a balance between industrial, commercial, residential and open space)
MEETING DATE: May 20, 2025
DEPARTMENT: Development Services
CONTACT: Michael Quint, Executive Director of Development Services
RECOMMENDED CITY COUNCIL ACTION:
* Approve the proposed first amendment to the Honey Creek annexation and development agreement.
ITEM SUMMARY:
* On September 17, 2024, the City Council approved an annexation and development agreement governing the approximately 1,650-acre property commonly referred to as Honey Creek, which is generally located east of FM 1461 (Future Lake Forest Drive) and County Road 166 and south of County Road 168 and FM 543.
* Since the execution of said agreement, Staff has been in negotiations with the Developer to modify the obligations surrounding the construction of Laud Howell Parkway. The goal of these negotiations was to expedite the construction of four lanes of the roadway as soon as possible, rather than only two lanes. Typically, arterial roadways are constructed concurrently with the adjacent phase of development. By negotiating to have the entire roadway built with the initial phases of development, the roadway's full capacity will be accessible to the public many years earlier than would otherwise be possible.
* The annexation and development agreement states that the Developer shall construct two lanes, including a six-lane bridge, of Laud Howell Parkway from its current terminus just west of the intersection with Trinity Falls Parkway to the intersection of Lake Forest Drive by no later than December 2027. The remaining two lanes were to be constructed concurrently with the adjacent phases of ...
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