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

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ARTICLE XVI AMENDMENTS TO THE AGREEMENT Section 16.01 Amendments. a. This Agreement may be amended only by a written agreement signed by City and either (i) Primary Owner, or (ii) all of the then -current owners of all portions of Cotton Center (other than the individual owners of occupied single-family, duplex, townhouse or attached single family residential lots); provided, however, an owner of a portion of Cotton Center (other than an individual owner of an occupied single family, duplex, townhouse or attached single family residential lot) and the City may amend this Agreement as it relates solely to such owner's parcel without the joinder of any other landowner, provided that the Primary Owner must be party to such amendment if the Primary Owner then owns any portion of Cotton Center. In addition, as long as the Primary Owner owns any portion of Cotton Center, the Primary Owner and City may amend this Agreement without the joinder of any other landowner. b. Due to the fact that the Project comprises a significant land area and its development will occur in phases over a number of years, Owner may request amendments to the Agreement and/or the Concept Plan from time to time. "Major Amendments" shall be those that (i) increase or decrease the overall number of residential dwelling units by more than ten percent (10%) of the units depicted on the Concept Plan, (ii) a change to the general alignment of the arterial roadways identified on the Concept Plan, or (iii) a change to the Concept Plan that converts more than fifteen percent (15%) of the overall land area (not currently designated for commercial or industrial uses) in Cotton Center to commercial and/or industrial use. Major Amendments to the Concept Plan shall require approval by the City Council. Major amendments are not applied to percent changes between planning areas individually, phases, or Sub -Districts, but to the Property in aggregate. "Minor Amendments" are all amendments that do not meet the definition of Major Amendments. Minor amendments shall be administratively approved by the Director. If the Director and Owner dispute the classification of an amendment as "major" or "minor", the issue shall be referred to the City Manager for determination from the provisions hereof. If the City Manager and the Owner dispute the classification of an amendment as major or minor, the issue shall be referred to the City Council for final determination of whether the amendment is "minor" or "major." If the classification of the disputed amendment is determined to be Major Amendment, the Council shall decide separately whether to approve the amendment. C. Amendments to this Agreement or the Concept Plan, whether Major or Minor Amendments, shall not be considered a waiver of vested rights as described in Section 2.02