Res 2017-043/approving a participation agreement with Lazy Oaks Ranch, LP providing for the City to participate in the cost of oversizing certain Public Water System improvements in an amount not to exceed $1,028,631

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PARTICIPATION AGREEMENT LA CIMA This Participation Agreement (the "Agreement") is effective as of March 7, , 2017 (the "Effective Date"), by and between the City of San Marcos, Texas, a home rule municipal corporation (the "City"), 630 East Hopkins Street, San Marcos, Texas 78666 and Lazy Oaks Ranch, LP, a Texas limited partnership (the "Owner"), 303 Colorado, Suite 2300, Austin, Texas 78701. I. RECITALS 1.1 TEXAS LOCAL GOVERNMENT CODE SECTION 212.071 authorizes the City to cost participate with a developer of a subdivision or land to construct public improvements. 1.2 In connection with the Owner's construction of master infrastructure related to the La Cima land development project, Owner has submitted a request for the City's cost participation in the construction of public improvements consisting of upsizing water lines for the Ranch Road 12 Booster Station from 12 inches to 16 inches, upsizing another water line from 12 inches to 16 inches, upsizing a 300,000 gallon elevated storage tank to 500,000 gallons, upgrading a 16 inch water line from PVC to ductile iron, adding new liner to the wet well of the Franklin Lift Station, and upgrading the intersection of proposed West Centerpoint Road and Wonderwold Drive to ultimate buildout conditions as approved in the La Cima traffic impact analysis (TIA). The foregoing improvements, as further shown and described in the map or site plan and Description of Work attached as Exhibit "A" are collectively, the "Public Improvements." 1.3 The City has determined that portions of the Public Improvements qualify for cost participation by the City and the City desires to have the Owner design and construct both the Owner's and the City's portion of the Public Improvements subject to the terms of this Agreement. II. AGREEMENT In consideration of the mutual benefits to and obligations of the parties under this Agreement, the parties agree to the following terms and conditions: 2.1 Design and Construction of Public Improvements 2.1.1 Design and Construction. The Public Improvements will be designed and constructed by the Owner according to plans and specifications approved by the City in accordance with the City's applicable ordinances, standards and processes. 2.1.2 Project Manager. The Owner will act as project manager in the construction of the Public Improvements. The Owner shall employ a professional