AGENDA CAPTION:
Title
Receive a Staff presentation and hold a Public Hearing to receive comments for or against Resolution 2023-21R, approving a first amended and restated Development Agreement with Franklin Mountain San Marcos 1, LP, in connection with the Development Case No. PDA-14-03(A): Cotton Center, for approximately 2,358 acres more or less out of the Williams Petus Survey, Abstract No. 21 and the Thomas Maxwell Survey, Abstract No. 188 and the Thomas Yates Survey, Abstract No. 313, generally located between FM 1966 and State Highway 80 and the San Marcos Regional Airport and State Highway 142; authorizing the City Manager to execute the agreement on behalf of the City; and providing an effective date; and consider approval of Resolution 2023-21R.
Body
Meeting date: January 17, 2023
Department: Planning & Development Services
Amount & Source of Funding
Funds Required: N/A
Account Number: N/A
Funds Available: N/A
Account Name: N/A
Fiscal Note:
Prior Council Action: Click or tap here to enter text.
City Council Strategic Initiative: [Please select from the dropdown menu below]
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Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
☒ Economic Development - Diverse Local Economic Environment
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☒ Land Use - Direct Growth, Compatible with Surrounding Uses
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☐ Core Services
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Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
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Background Information:
The Cotton Center Development Agreement was originally approved by City Council in December, 2016. In December, 2022 City Council authorized negotiations with the current applicant in order to remove 660 acres from Cotton Center which, in the next item, are proposed for inclusion in an amended SMART Terminal Development Agreement.
The terms of Cotton Center are generally the same with the exception of the removal of one park which will be required in SMART Terminal. Vesting for this agreement is based on plat date and the agreement includes terms for dedication and construction of two fire stations when certain milestones of the development are achieved.
Council Committee, Board/Commission Action:
A committee of Mayor Hughson and Councilmembers Gleason and Prather were appointed to review this amendment. No meeting of the committee was deemed necessary and staff received direction to move forward with the request.
Alternatives:
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Recommendation:
Staff recommends approval of the agreement as presented.