Title
Consider a resolution authorizing the Mayor to execute a Development Agreement with 705 Limmer Loop JV, LLC for the development of property located at 705 Limmer Loop.
Body
This is a combined out of city wastewater service agreement and development agreement to facilitate the construction of about 200 townhomes on the property located at 705 Limmer Loop. Traditionally, when the city has agreed to provide utility service to customers outside city limits, the property has been in the city's extraterritorial jurisdiction (ETJ) and also within the boundaries for which the city holds a certificate of convenience and necessity (CCN), granting the city sole rights to provide a given tract with the specified utility service. This tract is unique in that it is neither in the city's ETJ, nor is it in the city's CCN area. Until recently it was in Hutto's ETJ, but the property owner submitted a petition to the city of Hutto seeking release from that city's ETJ. The city of Hutto did not act within the state mandated deadline of 45 days, so under the regulations set forth in Texas Senate Bill 2038 it was effectively released. Additionally, the property is not within any wastewater service provider's CCN. However, the city of Round Rock has a wastewater main immediately in front of this property, so when the developer requested access to the main, city staff began negotiating the terms of this agreement.
In exchange for the city providing up to 142 living units equivalents (LUEs) of wastewater service, the developer is required to do the following:
-Pay a wastewater connection fee in the amount of $414,782.00, the same amount that the wastewater impact fees would be if the property was in the city limits,
-Pay roadway impact fees in the amount of $724,474.00, a similar amount to the fees that would be collected if developed inside city limits,
-Pay parkland dedication fees at the rate of $4,000 per acre, for a total of almost $80,000, which is the same that would be required of a property located inside city limits, and
-Develop the property in accordance with the Townhouse (TH) zoning district and several other city development standards, and provide third party inspections and letters attesting to the compliance thereof.
The negotiated agreement will help the developer supply much needed housing in the area without having to construct a wastewater package plant adjacent to the city, while ensuring quality development and providing the city with financial resources to accommodate the impact of the additional population that will be utilizing our services in one form or another.