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<br />I <br /> <br />I <br /> <br />I <br /> <br />RESOLUTION 2007 - 114 R <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS APPROVING A CAPITAL IMPROVEMENT <br />AGREEMENT BE1WEEN THE CITY AND SLC 61 JOINT VENTURE; <br />AUTHORIZING THE CITY MANAGER TO EXECUTE THIS <br />AGREEMENT ON BEHALF OF THE CITY; AND DECLARING AN <br />EFFECTIVE DATE. <br /> <br />RECITALS: <br /> <br />1. SLC 61 Joint Venture ("SLC") is in the process of platting Phase II of Cottonwood <br />Crossing. Part of the process includes funding for the construction of a remaining <br />portion of Cottonwood Parkway. <br /> <br />2. The property being platted includes land that is in the floodplain and floodway of <br />Cottonwood Creek, which would inhibit development of the property; however the land <br />would be useful for preservation of green space and water quality. <br /> <br />The City and SLC have negotiated the attached agreement wherein the City will receive <br />title to this property for use as parkland greenspace in return for which the City will not <br />require that SLC construct the portion of Cottonwood Creek set forth in the attached <br />agreement. <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: <br /> <br />PART 1. The terms and conditions of the attached Capital Improvement <br />Agreement between the City of San Marcos and SLC 61 Joint Venture is approved. <br /> <br />PART 2. The City Manager, Dan O'Leary, is authorized to execute the <br />agreement on behalf of the City. <br /> <br />PART 3. This Resolution shall be in full force and effect immediately from and <br />after its passage. <br /> <br />ADOPTED this 19th day of June 2007. <br /> <br />~aiiaui <br /> <br />Mayor <br />