AGENDA CAPTION:
Title
7:00PM Receive a Staff presentation and an applicant presentation, and hold a Public Hearing to receive comments for or against Resolution 2016-164R, authorizing the City Manager or his designee to execute a Development Agreement with Walton Texas, LP, Walton Silver Crossing, LP, Walton TX Austin Land LP, Walton TX Martindale, LP, and Walton TX Martindale, LP 2 for approximately 2,358 acres of land in the City of San Marcos’ Extraterritorial Jurisdiction; and providing an effective date; and consider approval of Resolution 2016-164R.
Body
Meeting date: December 6, 2016
Department: Planning and Development Services Department
Funds Required: N/A
Account Number: N/A
Funds Available: N/A
Account Name: N/A
CITY COUNCIL GOAL: N/A
COMPREHENSIVE PLAN ELEMENT(s): N/A
BACKGROUND:
The City Council approved a Consent Agreement for the creation of the Cotton Center Municipal Utility District (“Cotton Center”) in December 2014. The Consent Agreement provided that Walton and the City enter into a Development Agreement to govern land use and other aspects of development in the District.
This is a request by Walton Development, LLC for approval of the Development Agreement. The Development Agreement proposes the 2,358-acre mixed-use development of Cotton Center located within the northeast portion of the City’s ETJ, just east of the Airport. The agreement includes a 45-year term as allowed by State Law, which is the anticipated build-out period for the entire development and proposed land uses.
The mixture of uses proposed includes approximately 6,246 single-family homes, 1,875 multifamily units, 127 acres of commercial use, 49 acres of office, 220 acres of industrial, and 550 acres of open space and parkland.
As required by the Land Development Code, attached is the draft agreement for final consideration by the City Council. Staff recommends approval.