AGENDA CAPTION:
Title
Consider approval, by motion, authorizing negotiations with Franklin Mountain San Marcos I, LP to amend the (SMART Terminal) Chapter 380 Economic Development Incentive and ETJ Development Agreement previously approved by City Council to among other things, remove references to the incentive for the Katerra project and include acreage previously approved under the Cotton Center Development Agreement, and consider the appointment of a Council Committee to review the aforementioned Development Agreement, if desired.
Body
Meeting date: August 2, 2022
Department: Planning & Development Services
Amount & Source of Funding
Funds Required: N/A
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Funds Available: N/A
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Fiscal Note:
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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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Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
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Background Information:
On December 6, 2016 City Council approved a development agreement for approximately 2,358 acres for a project called Cotton Center.
On March 19, 2019 City Council approved a Chapter 380 Economic Development Incentive and ETJ Development Agreement for approximately 889 acres for a project called SMART Terminal.
The current applicant has acquired the SMART Terminal land, approximately 660 acres of Cotton Center, and an additional 511 acres adjacent to these proposed developments and wishes to create a cohesive agreement to cover the entire acreage. The applicant is proposing to remove all references to the Chapter 380 Economic Development Incentives previously approved for the Katerra project within the SMART Terminal.
The development agreement will layout applicable development standards and timing for annexation and zoning as well as approved and prohibited uses. The proposed zoning and uses align with Heavy Commercial & Heavy Industrial, however there is not an end user for the property at this time.
This development will expand the City’s wastewater CCN, and part of the project is already within the City’s water CCN.
Development Agreement Process Summary
1. Application submitted to staff.
2. Initial Authorization for negotiation by City Council.
3. Negotiations between Applicant, Staff, and Council Committee (if appointed).
4. Final Draft Development Agreement presented to City Council for Consideration. City Council may accept, accept with modifications, or reject the Development Agreement.
5. Execution and Recordation of the Final Agreement.
Council Committee, Board/Commission Action:
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Alternatives:
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Recommendation:
Staff recommends authorization of the Development Agreement in order to further consider and negotiate in accordance with Section 2.4.3.6.