02012005 Regular Meeting - Laserfiche WebLink

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Regular Meeting February 1, 2005 72. Page 5 asked if anyone else wished to speak No one dld, so Mayor Narvalz closed the publlc hearing Mr Guerrero moved for approval of the Ordinance on first reading, and Mr Mihalkanin seconded the motion Mr Diaz lnquired who would bear the cost of the rallroad overpass Mr Calderon stated the total project is worth $4 8 million, and if the Council approves the Development Reimbursement Agreement, the developer wlll bear the cost associated with the railroad crossing Mr Thomaides inquired what would occur if this developer goes out of business and these homes are not built Mr O'Leary stated the developer is going to build and pay for the overpass hlmself, so there is no rlsk to the City, and If the development does not take place, the developer does not get his money back Mayor Narvaiz stated she feels the real costs are the extra services provided in flre and pollce protectlon for those indlvlduals llvlng in thls development, while the property taxes go towards paying for this overpass Mr O'Leary stated one of the benefits of a Tax Increment Financing Zone is the Clty can ask the County to partlcipate He stated the Clty can make a case to the County that this not only lS a City project, but it lS a County project as well Mr Taylor stated he feels this is a win-win project He inqulred whether the Clty would have to close a rallroad crossing if the one at Yarrlngton Road is built Mr O'Leary stated the developer would be responsible for gainlng the rights for an at-grade crossing with the rallroad Mr Bose lnquired whether the part of Yarrington Road near this project would be a four lane road Shawn Cranston, Development Manager for Carma Texas, stated the Engineering Staff requlred thls project be a four-lane overpass Mr Mihalkanin inquired as to the proposed amendments for this Ordinance, which were received tonlght Mr Mark Taylor stated the most significant change lS to Section 10, which provided some outs for the City in case some contingencies were not met Mr Taylor inquired whether the four-lane highway would be fully accessible to all drlvers trYlng to get from IH-35 to Post Road Mr Cranston stated the four-lane hlghway will be fully accessible from IH-35 to Post Road Mr Bose lnquired whether the City will need to get rlght-of-way from the railroad Mr O'Leary stated he believes this section of Post Road is In railroad right-of-way, and the City would need to get permission Mr Mark Taylor stated if the City lS going to do significant work to lmprove this portion of Post Road or wlden it, then the Clty would need to approach the railroad, but the City does not need permission to maintain what is already there Laurie Anderson, Director of Engineering, stated Post Road and the railroad share a common right-of-way She also stated as those properties on the eastside of the railroad tracks and along the frontage road are being developed, the City is acquirlng right-of-way through the platting process Mr Mihalkanin moved to amend the Ordinance to include exhibits in the prelimlnary Project Plan Relnvestment Zone Flnancial plan provided tonight, and Mr Taylor seconded the motlon On roll call for the amendment, the followlng vote was recorded AYE Diaz, Guerrero, Mlhalkanin, Narvaiz, Bose and Taylor