Res 2023-021R Approving a first amendment and reinstated agreement with Franklin Mountain San Marcos

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ARTICLE XIV ANNEXATION Section 14.01 Annexation by City. a. Except as provided in Subpart b. below, pursuant to this Agreement, the Property shall remain in the ETJ of City and shall be immune from full purpose annexation by City; provided, however, City may annex land within the Municipal Utility District for full purpose during the Term upon the earlier of (a) at least ninety percent (90%) by dollar amount of the total water, sanitary sewer, drainage and road facilities (the "Infrastructure") for which district bonds may be authorized have been constructed, and the Owner has been fully reimbursed by the district for such improvements in accordance with rules of Texas Commission on Environmental Quality; or (b) the dissolution of such municipal utility district (other than as a result of annexation by the City). If all or any portion of the Property is annexed, the City shall not prevent Owner from using such Property in a manner consistent with the Concept Plan and otherwise in accordance with the terms hereof. Contemporaneously with the annexation of any land within Cotton Center, City will zone any property within Cotton Center consistently with the land uses set forth on the Concept Plan and this Agreement; however, zoning for any developed property shall also be consistent with the land uses in existence on the date of the annexation insofar as practical. b. Pursuant to the terms of the Consent Agreement, a Strategic Partnership Agreement (as defined in the Consent Agreement) will set forth the timing and procedures for the City's annexation of Industrial and Regional Commercial Land portions of the Property in accordance with Section 43.0751 Texas Local Government Code and Section 2.04 of the City Charter. The Strategic Partnership Agreement shall permit the City to impose a sales and use tax on all eligible commercial and retail activities in areas annexed for limited purposes at the same rate it is imposed by the City, and that the City shall pay the Municipal Utility District or Sub -District (as defined in the Consent Agreement) an amount equal to forty percent (40%) of the Sales and Use Tax revenues collected and paid to the City as reflected in sales tax reports provided by the Comptroller to the City and the City will retain the remainder sixty percent (60%). Section 14.02 Consent to Future Annexation. Owner and all subsequent owners of property within Cotton Center voluntarily consent to annexation by the City upon the terms and conditions set forth in this Agreement. Notice to all subsequent owners of the property shall be evidenced by the Memorandum of Agreement attached as Exhibit F which will be recorded in the deed records of Caldwell County within 30 days of the bond election of the Municipal Utility District or any subsequent Sub -Districts. Additionally, a note covering the foregoing will be added to all final subdivision plats. Section 14.03 Temporary Housing. Owner may utilize manufactured or forms of temporary housing, trailers or buildings, together with individual septic systems for the municipal utility district creation and confirmation process. Temporary housing may be located upon any site within the Property for such purpose regardless if the land has been subdivided in accordance with the Applicable Requirements. Temporary housing for the municipality utility district and creation and confirmation process placed within the Project shall be limited to five (5) years for each Sub -District. Section 14.04 Directors Lots. The City agrees that any division of land for initial directors necessary for creation of the Municipal Utility District or any Sub -District shall be exempt from platting requirements.