Res 2005-125 - Laserfiche WebLink

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41 . CAPITAL IMPROVEMENT AGREEMENT Tins Agreement is made on September 7 , 2005 between the City of San Marcos, a Texas municipal corporation (the "City"), 630 East Hopkins Street, San Marcos, TX 78666, and the First Baptist Church of San Marcos, a Texas nonprofit corporation (the "Property Owner"), 312 W. Hopkins Street, San Marcos, TX 78666. RECITALS 1. The Public Facilities Standards Chapter (Chapter 7) of the San Marcos Land Development Code (the "LDC") provides for the installation of public improvements associated with new developments. LDC Section 7.7.1.14 provides for the City to bear a portion of the cost of public improvements associated with new development through a capital improvement agreement. 2. The City desires to execute a capital improvement agreement with the Property Owner for sharing the cost ofthe following public improvements (the "Improvements") in connection with the platting ofthc Property Owner's property described 011 the attached Exhibit A (to be platted as Lot No.1 of the First Baptist Church Subdivision) (the "Property"): A 16" diameter water line from the existing City storage tank on Great Oaks Drive, along McCarty Lane, to Hunter Road 3. The City is planning to construct the hnprovements as a City CapitallIDprovements Program project, subjcct to the availability of funding. The City and the Property O\Vl1er have agreed to allocate the cost of the Improvements as described ill this Agreement. AGREEMENT The City and the Property Owner, in consideration of the mutual promises, covenants and agreements set forth in this Agreement, agree and contract as follows: 1. The Property Owner agrees to provide professional engineering services for the design of the Improvements. The Property Ovmer agrees to ensure that such services are coordinated with the City's Engineering Department. The plans and specifications for the Improvements will be subject to review and approval by the City. Upon completion and acceptance of the final plans and specifications for the Improvements by the City, the Property Owner will submit an invoice for the engineering services to the City. 2. The City agrees to construct the Improvements. The City and the Property Owner acknowledge and agree that this obligation of the City is expressly contingent on the availability of flmds, which the City anticipates (but does not guarantee) will become available through the City's issuance of certificates of obligation in the fourth quarter of calendar year 2005. The construction will be carried out by an independent contractor engaged by the City. The City agrees to endeavor to complete the Improvements no later than November 30, 2006.