Res 2010-148 - Laserfiche WebLink

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WHEREAS, in accordance with the Act, the City desires and plans to create a tax increment reinvestment zone entitled "Reinvestment Zone No. [Four], City of San Marcos, Texas" (hereinafter sometimes "the TIRZ" or "TIRZ ") which will include the Property. NOW THEREFORE, the City and Carma in consideration of the premises, the mutual covenants and agreements of the Parties hereinafter set forth, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the Parties, agree as follows: ARTICLE I General Terms 1.01 Annexation and Zoning. Upon approval of this Agreement, Canna authorizes the City to immediately initiate the full purpose annexation of the ETJ Parcel. The City- initiated annexation process shall be concurrently accompanied by a City- initiated application to establish a Planned Development District "PDD" zoning classification for both the ETJ Parcel (after annexation thereof) and the City Parcel. The PDD zoning shall be approved and shall reflect the land uses and development regulations specified in the Concept Plan and the PDD Regulations (hereinafter defined below). Notwithstanding annexation of the ETJ Parcel, the terms, rights, duties, and obligations of this Agreement shall remain in full force and effect for the Initial Term of this Agreement and any extensions thereof, unless this Agreement is terminated per Section [5.01] below. 1.02 Concept Plan. The City hereby approves the use and development of the Property in accordance with the Concept Plan, which is incorporated into the PDD Regulations, and specifically approves the land use designations as more particularly described and identified on the Concept Plan and the PDD Regulations. The Concept Plan may be amended from time to time in accordance with procedures specified in the PDD Regulations. 1.03 Governing Development Regulations. (a) Development of the Property shall be governed by: (i) the Concept Plan; (ii) the City's Land Development Code(the "LDC ") in effect on October 30, 2008 (the "Submittal Date "); (iii) the PDD Zoning Regulations for the Property adopted in accordance with this Development Agreement attached hereto and incorporated herein as "Exhibit D" (the "PDD Regulations "), and (iv) construction plans and final plats for portions of the Property that are approved from time to time by the City (the "Approved Plats "). The Concept Plan, the LDC, the PDD Regulations and the Approved Plats shall hereinafter be referred to collectively as the "Governing Regulations." It is further agreed and understood that no ordinance or regulation adopted by the City after the Submittal Date shall in any manner impair Carma's rights under this Agreement provided that: (1) any ordinance or regulation exempted by Chapter 245 of the Texas Local Government Code may be enforced on the Property; and (2) ordinances or regulations adopted pursuant to a requirement of State or Federal law may be enforced on the Property.