Res 2014-120/Expressing the City Council’s support for the proposed La Cima Development Project

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RESOLUTION NO.2014 -12OR A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS EXPRESSING THE CITY COUNCIL'S SUPPORT FOR THE PROPOSED LA CIMA DEVELOPMENT PROJECT; EXTENDING AN OFFER OF A DEVELOPMENT AGREEMENT TO LAZY OAKS RANCH, LP PURSUANT TO SECTION 43.035 OF THE TEXAS LOCAL GOVERNMENT CODE TO DEFER ANNEXATION AND CONTINUE THE EXTRATERRITORIAL STATUS OF ALL OR ANY PART OF A 634.59 ACRE TRACT OF LAND WITHIN THE PROPOSED PROJECT UNTIL THE OWNERS OF THE PROPERTY FILE ANY TYPE OF SUBDIVISION PLAT OR RELATED DEVELOPMENT DOCUMENT FOR ALL OR ANY PART OF THE PROPERTY; AND PROVIDING AN EFFECTIVE DATE. RECITALS: 1. Lazy Oaks Ranch L.P. is the owner of approximately 1,396 acres of land in the City's extraterritorial jurisdiction located in the area of Wonder World Drive and Old Ranch Road 12 that is subject to the City's annexation authority and has proposed a residential development originally referred to as "Lazy Oaks Ranch." 2. On February 5, 2013, the City Council adopted Resolution No. 2013 -18R that approved a development agreement with Lazy Oaks Ranch, L.P. for the development of the property under the authority of Section 212.172 of the Texas Local Government Code. 3. Under that development agreement the City agreed defer annexation of any portion of the property until the property is adjacent to the City limits and any such portion of the property is platted, but the City may enforce certain land use regulations. 4. Lazy Oaks Ranch L.P. has changed the name of the development to "La Cima" and now proposes to add approximately 634.592 acres of land to the development. Such 634.592 acre tract of land is appraised for ad valorem tax purposes as land for agricultural or wildlife management use or as timber land. 5. With the addition of such 634.592 acre tract of land, the proposed La Cima development project includes a mix of uses including residential, commercial and open space. The residential component would address a need for a greater variety of single - family housing options in the area. The commercial tracts would stimulate economic activity and also present a unique opportunity for location of a large corporate campus that could attract a major employer to the area. The open space area is adjacent to the Purgatory Creek Natural area and would further promote the habitat conservation efforts of the City and Hays County. 6. For these reasons the City Council wishes to express its support of the La Cima development project and to facilitate the development by guaranteeing the