Res 2004-124 - Laserfiche WebLink

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76. OVERSIZE REIMBURSEMENT AGREEMENT FOR UTILITY IMPROVEMENTS This Agreement is made on July 13 ,2004 between the City of San Marcos, a Texas municipal corporation (the "City"), 630 E. Hopkins, San Marcos, TX 78666, and lM.C. Realty, Inc. (the "Developer"), c/o J. Michael Chargois, P.O. Box 204385, Austin, TX 78720-4385. RECITALS 1. The Subdivision Chapter of the San Marcos City Code provides for the installation of certain public improvements associated with new subdivisions. This chapter also allows the City to require a subdivision developer to install improvements that are oversized with respect to City minimum standards or the needs of the subdivision, and provides for the allocation of the cost of the improvements between the City and the developer. 2. The City desires to have the Developer make the following utility improvements (collectively called the "Utility Improvements") in connection with the Developers construction of the San Marcos Toyota development (the "Development"), to provide for future City utility needs: Wastewater lift station and wastewater main improvements along IH-35 from San Marcos Toyota site to Tanger Outlet Mall site 3. The Developer has provided the City with a cost estimate prepared by the Developer's engineer for the construction of the Utility Improvements, the total estimated cost being $347,660, of which 64% will be paid for by the City to serve utility uses on property other than the Developer's. 4. The City and the Developer have agreed to allocate the cost of the Utility Improvements as described in this Agreement. AGREEMENT The City and the Developer, in consideration ofthe mutual promises, covenants and agreements set forth in this Agreement, agree and contract as follows: 1. The Developer agrees to construct the Utility Improvements as described on the construction plans for the Utility Improvements approved by the City, in accordance with the City=s construction standards and specifications. 2. The Developer will act as project manager in the construction of the Utility Improvements. The Developer will ensure that the construction is carried out under the direct supervision of a professional engineer registered in the State of Texas. 3. The City agrees to pay to the Developer an amount not to exceed $222,502, being 64% of the estimated cost for the Utility Improvements. Before commencement of construction, the Developer will provide the City with a copy ofthe bid tabulation sheet signed by the Developer's engineer indicating the actual construction cost for the Utility Improvements, in accordance with the requirements of Chapter 110 of the San Marcos City Code. The amount ofthe City's payment will be 64% of this construction cost, together with 64% of the engineering cost for the Utility Improvements, subject to the not-to-exceed amount stated above. This payment will be made in a lump sum no later than 30 days after the acceptance of the completed Utility Improvements by the City.