...Title
Consider a resolution authorizing the Mayor to execute a Development Agreement with Frontera Hillside Land, LP for the development of property located at the northeast corner of CR172 and SH45.
...Body
This item serves as both a development agreement and out-of-city water and wastewater services agreement for a 365-unit multi-family project to be built in the city's extraterritorial jurisdiction. The developer will be entitled to a maximum of 183 living unit equivalents ("LUEs") of water and wastewater service plus eight LUEs of water service for irrigation. The agreement requires the developer to pay all developments fees that would be required of an equivalent project built in the city limits, which include the following:
-Water and wastewater connection fees in the amount of $7,833 per LUE for water and wastewater, and $4,912 per LUE for water only for irrigation.
-Roadway improvement fees of $2,296.13 per unit in three-story buildings (which is considered low-rise multifamily) and $1,838.54 per unit in four-story buildings (considered mid-rise residential).
-Parkland fees in the amount of $4,000 per acre.
The developer will be held to certain design and development standards in the agreement, which mirror those of nearby multifamily projects in the city. The maximum building height is four stories, certain exterior wall materials are prohibited to ensure a high-quality finish, and stairwells within buildings are not allowed to be visible from the street. The city's typical landscaping and tree protection standards apply, as do the requirements to obtain a site development permit and subdivision improvement permit.
One unique aspect of this agreement that varies from other similar agreements the city has executed is that the property owner will not be required to annex into the city limits even though the property is currently contiguous. The developer is building this project in partnership with the Texas Housing Foundation, and in accordance wi...
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