Title
Consider/Discuss the Terms of a New 45-Year Development Agreement in Association with the Pending Municipal Annexations Generally Located in the Northwest Sector of McKinney
Summary
COUNCIL GOAL: Direction for Strategic and Economic Growth
MEETING DATE: November 6, 2017
DEPARTMENT: Development Services - Planning Department
CONTACT: Jennifer Arnold, Planning Manager
Aaron Bloxham, Planner II
Brian Lockley, AICP, CPM, Director of Planning
Michael Quint, Executive Director of Development Services
RECOMMENDED CITY COUNCIL ACTION:
* Consider/discuss and provide direction to staff regarding development agreements associated with pending annexations generally located in the northwest sector of McKinney.
ITEM SUMMARY:
* During the September 19, 2017 City Council Meeting, Council approved Resolution No. 2017-09-182, authorizing the City Manager to execute development and annexation agreements in association with the proposed annexation of land generally located in the Northwest Sector of McKinney.
* However, approval during the September 19 meeting only authorized the City Manager to execute the following:
o Section 43.035 Agreements ("10-Year Agreements") with property owners who have an agricultural, wildlife management, or timber land ad valorem tax exemption on their property, which agreement would defer annexation for a period of up to 10 years; and
o Section 212.172 Agreements ("3-Year Agreements") with property owners who do not have an agricultural, wildlife management or timber land ad valorem tax exemption on their property. In general, these agreements do not defer annexation, but provide for a reimbursement equal to a parcel's payment of its city ad valorem taxes for a period of three years following annexation (save and except any rollback taxes).
* After completing the Public Hearing process, the Council directed staff to prepare a new and single agreement that could be offered, subject to City Council approval, to all property...
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