Title
Consider a resolution authorizing the Mayor to execute a First Amendment to the Development Agreement with LSBD Round Rock 118, LLC.
Body
This is an amendment to a development agreement originally executed in July 2022 in association with a resolution of no objection to allow a multifamily developer (LSBD Round Rock 118, LLC) to construct an affordable apartment complex on County Road 118 in the city's extraterritorial jurisdiction. The agreement stipulated that the development must comply with the regulations of the MF-2 (Multifamily - medium density) zoning district. The staff review of the preliminary site development permit application revealed some aspects of the site design that are important to the developer to be out of compliance with the MF-2 district. City staff and the developer worked closely to revise parts of the site to allow the developer to largely achieve their vision while ensuring a thoughtful design. Most notably, while the MF-2 district prohibits parking in the street yard, the amendment will allow it in order to maximize the internal common green space for residents of the family-oriented development.
The result of the discussions and site revisions are contained within this amendment, which mandates alternate design standards which the development must abide. Specifically, the amendment declares the following:
-Parking in the street yard is permitted.
-A landscape buffer to screen the street yard parking is required and must contain significantly more landscaping than similar landscape buffers elsewhere in the city.
-The landscape buffer must be in a dedicated easement immediately adjacent to the right of way.
-The public utility easement that is typically dedicated along the right-of-way must be moved to the other side of the landscape buffer (internal to the site).
-The minimum building setback along the eastern property line is reduced from 10 feet to 5 feet.