AGENDA CAPTION:
Title
PDA-25-02 (La Cima 8th Amended Development Agreement) Receive a staff presentation regarding an eight amended and restated development agreement with Lazy Oaks Ranch, LP, and its partial assignees in connection with the La Cima Development located near the intersection of Old Ranch Road 12 and Wonder World Drive to align the development agreement with City Resolution 2025-74R and special district legislation which created the La Cima Municipal Management District No. 1. (W. Rugeley)
Body
Meeting date: April 28, 2026
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: N/A
City Council Strategic Initiative: [Please select from the dropdown menu below]
N/A
N/A
N/A
Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
? Arts and Culture - Choose an item.
? Economic Development - Choose an item.
? Environment & Resource Protection - Choose an item.
? Housing + Neighborhoods - Choose an item.
? Land Use + Community Design and Character - Choose an item.
? Parks & Public Spaces + Health, Safety & Wellness - Choose an item.
? Transportation - Choose an item.
? Core Services
? Not Applicable
Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
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Background Information:
The 2022 agreement recognized a single 2,029-acre PID and allowed petitions for additional PIDs. The 2026 amendment expands this framework by formally recognizing three PIDs and adding the La Cima Municipal Management District No. 1, created by special legislation with City consent. It also introduces new conditions related to bond issuance, nonprofit ownership, and maintaining ETJ and annexation authority. Utility financing is similarly expanded in 2026 to allow use of all three PIDs and the MMD, along with added provisio...
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