Res 2022-167R Approving development agreement with Seymour annexation 20.07 Acrea S. of Centerpoint Rd Approx 1900sq feet E of IH35

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STATE OF TEXAS § DEVELOPMENT AGREEMENT COUNTY OF HAYS § This DEVELOPMENT AGREEMENT (this "Agreement") is made and entered into as of the 22 day of _ August , 2022 (the "Effective Date"), by and between the CITY OF SAN MARCOS, TEXAS, a Texas home -rule municipal corporation (the "City") and SEYMOUR DREYFUS FAMILY LIMITED PARTNERSHIP ("Owner"). The City and Owner are sometimes hereinafter referred to individually as "Party", and collectively as the "Parties". The Parties agree as follows: PURPOSES AND CONSIDERATIONS WHEREAS, Owner currently owns approximately 20.07 acres, more or less, ("the Property") located in the Extraterritorial Jurisdiction ("ETJ") of the City, Hays County, Texas, and more particularly described by metes and bounds in Exhibit "A", which is attached hereto and incorporated herein for all purposes; and WHEREAS, Owner desires to develop the Property as "CD -5" Character District - 5, with the modifications in this Agreement, pursuant to the City's Development Code, as that code exists on the Effective Date of this Agreement, subject to the modifications set forth herein, and generally in accordance with the Conceptual Land Use Plan, as more particularly described in Exhibit "B" attached hereto; and WHEREAS, the City is authorized to make and enter into this Agreement with Owner in accordance with SUBCHAPTER G, CHAPTER 212, LOCAL GOVERNMENT CODE and Chapter 2, Article 4, Division 3 of the San Marcos Development Code, to accomplish the following purposes: A. Extend the City's planning authority in accordance with the Conceptual Land Use Plan and the development regulations contained herein under which certain uses and development of the Property is authorized; and B. Authorize enforcement by the City of municipal land use and development regulations, as required and/or authorized by San Marcos Development Code ("SMDC"), as applicable, to the extent the same are consistent with the development regulations contained herein and in the same manner the applicable regulations are enforced within the City's municipal boundaries: and C. Provide the terms of annexation of the Property: and D. Provide for an approximately 20.07 acres of multifamily development: and ....- ...... ............"......... .. 1 ........................................... :.,.:._:.......:. ,............... ..._...