Res 2008-034 - Laserfiche WebLink

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CAPITAL IMPROVEMENT AGREEMENT FOR W.C. CARSON This Agreement is made on March 4, 2008 , 2008 between the City of San Marcos, a Texas municipal corporation (the "City"), 630 E. Hopkins, San Marcos, TX 78666, and W. C. Carson ("Carson"), 1911 Corporate Drive, Suite 102 San Marcos, TX 78666. RECITALS: 1. Carson owns the 136 acre, more or less, tract of property (the "Property") described on the attached Exhibit "A", located adjacent to Wonderworld Drive in San Marcos, Hays County, Texas. The City has approved a Watershed Protection Plan, Phase One, a Concept Plan, and Preliminary Plat on this property entitled the Hays County Government Center Campus. The Preliminary Plat is attached as Exhibit "B." 2. Carson in the process of preparing construction plans for the Public Facilities related to this development. The construction plans include plans for the construction of a regional four-lane arterial street (Stagecoach Drive) in conformance with the Thoroughfare Plan of the City ("Public Facilities"). 3. The City desires to execute an agreement with Carson for sharing the cost of the Public Facilities and the cost of placing a signal light at the intersection of Stagecoach and Wonderworld Drive. 4. The construction estimate for Stagecoach Road, attached as Exhibit "C", indicates that the facility will cost $671,689. The estimated cost for signalization at the intersection of Stagecoach and Wonderworld Drive is $100,000.00. 5. The City's development regulations would normally require Carson to construct a share of this regional roadway facility that is proportional to the needs of the development proposed in Exhibit "B". However, there are special circumstances present, including the fact that the Thoroughfare Plan is indicating the dedication of 100' of R.O.W. and a future four-lane regional arterial facility. 6. It is in the best interest of all parties to participate in the dedication and construction of Stagecoach Drive to economically facilitate the implementation of the Thoroughfare Plan and to otherwise serve the public purposes arising from the contemplated development. AGREEMENT: For and in consideration of the promises and the mutual agreements set forth herein, the City and Carson agree as follows: 1. Agreements by Carson. Carson agrees as follows: