| Agenda Item: | 8.
| | Agenda Title: | Discuss and consider action on a Development Agreement between the City of Bee Cave and WS-COS Development, LLC, WS-COS Investments, LLC, (collectively, “Wheelock”), the Lazy Nine Municipal Utility District No. 1A, and Matthews-Barnes Brothers Investment, LP, for development and future annexations related to property in the Extraterritorial Jurisdiction.
| Council Action:
| Discuss and Consider Action
| | Department: | Administration
| | Staff Contact: | Patty Akers
|
1. INTRODUCTION/PURPOSE
The purpose of this agenda item is for the City Council to discuss and consider action on a Development Agreement between the City of Bee Cave and WS-COS Development, LLC, WS-COS Investments, LLC, (collectively, “Wheelock”), the Lazy Nine Municipal Utility District No. 1A, and Matthews-Barnes Brothers Investment, LP.
2. DESCRIPTION/JUSTIFICATION
a) Background
The Wheelock and Lazy Nine Municipal Utility District property is generally located on the south side of Highway 71 West in our extra territorial jurisdiction. The LTISD "bus barn" location is adjacent and immediately to what is referred to as the Eastland Tract. The entrance to the tract is at Serene Hills Drive and Highway 71 West.
b) Issues and Analysis
As the development agreement draft and exhibits illustrate, the Municipal Utility District intends to annex the Eastland Tract into its boundaries and exercise its option to select the extraterritorial jurisdiction of the City of Bee Cave. As a result, the Eastland Tract will be located within the boundaries of the District and all of the land within the boundaries of the District will be within the ETJ of the City. This Development Agreement provides an alternative to typical City regulatory processes for development in its ETJ. It encourages innovative and comprehensive planning of the District Tract while providing for certain regulatory requirements throughout the term of this Agreement. The Development Agreement encourages the creation of a high-quality community for the benefit of the present and future residents of the City and the Project.
The Development Agreement discussion and Council presentation will include additional information provided by involved parties. Council Agenda Item #9 regarding the Strategic Partnership will also contain relevant details that will facilitate the discussion.
3. FINANCIAL/BUDGET
| Amount Requested | | | Fund/Account No. | | | Cert. Obligation | | | GO Funds | | | Other source | | | Grant title
| | | Addtl tracking info | |
4. TIMELINE CONSIDERATIONS
5. RECOMMENDATION
Approval
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