AGENDA CAPTION:
Title
Receive a Staff presentation and hold a Public Hearing to receive comments for or against Resolution 2021-126R, approving a fourth amended and restated Development Agreement with Lazy Oaks Ranch, LP and its partial assignees in connection with the La Cima Development near the intersection of Old Ranch Road 12 and Wonder World Drive that changes the number of multi-family units authorized for construction within the first phase to be based off 360 units instead of 15 acres; authorizing the City Manager to execute the agreement on behalf of the City; and providing an effective date; and consider approval of Resolution 2021-126R.
Body
Meeting date: July 6, 2021
Department: Planning & Development Services
Amount & Source of Funding
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Fiscal Note:
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Background Information:
On 2/5/2013, City Council approved a development for the Lazy Oaks Development which was later named La Cima. On 9/16/2014, City Council approved an amendment to the development agreement which provided for the annexation of more than 2,000 additional acres. The second amendment to the agreement occurred on 5/15/2018 which increased the acreage and total number of dwelling units from 2,400 to 2,800. On 8/18/2020, City Council approved a...
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