AGENDA CAPTION:
Title
Consider approval of Resolution 2019-11R, approving an agreement regarding conveyance of right of redemption and waiver of agricultural valuation with Highpointe Trace, LLC and UMB Bank, N.A. in connection with the Trace Public Improvement District; authorizing the City Manager or his designee to execute such agreement on behalf of the City; and declaring an effective date.
Body
Meeting date: January 15, 2019
Department: City Manager Office
Amount & Source of Funding
Funds Required: N/A
Account Number: Click or tap here to enter text.
Funds Available: Click or tap here to enter text.
Account Name: Click or tap here to enter text.
Fiscal Note:
Prior Council Action: The City Council approved the Amended Trace Public Improvement District Financing agreement and the Acquisition and Reimbursement agreement on September 18, 2018 and they also amended the Trace Public Improvement District Term Sheet on August 7, 2018. An amended and updated Service and Assessment Plan was approved on October 15, 2018.
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Workforce Housing
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Background Information:
Highpointe Communities has approximately 420 acres of land, generally located on the east side of IH-35, south of Posey Road, and also bordered by Old Bastrop Highway, at the
southern edge of the City of San Marcos. The property is primarily for residential housing along with a component o...
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