Res 2013-018/City Manager to execute a development agreement with Lazy Oaks Ranch, LP

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STATE OF TEXAS § DEVELOPMENT AGREEMENT COUNTY OF HAYS § LAZY OAKS RANCH This DEVELOPMENT AGREEMENT (this "Agreement ")is made and entered into as of the 5th day of February, 2013 (the "Effective Date "), by and between the CITY OF SAN MARCOS, TEXAS, a Texas municipal corporation (the "City ") and LAZY OAKS RANCH, LP, a Texas Limited Partnership ("Lazy Oaks Ranch", "LOR" or the "Owner"). The City and Lazy Oaks Ranch are sometimes hereinafter referred to individually as "Party ", and collectively as the "Parties ". The Parties agree as follows: PURPOSES AND CONSIDERATIONS WHEREAS, Lazy Oaks Ranch currently owns that certain 1,396.90 acre, more or less, parcel of land ( "the Property ") located in the Extraterritorial Jurisdiction ( "ETJ ") of the City, Hays County, Texas, and more particularly described in Exhibit "A ", which is attached hereto and incorporated herein for all purposes; and WHEREAS, Lazy Oaks Ranch desires to develop the Property as a single family residential, limited commercial and conservation, preservation and open space development generally in accordance with the Conceptual Land Use Plan, as more particularly described in Exhibit "B" attached hereto and incorporated herein for all purposes; and WHEREAS, the City is authorized to make and enter into this Agreement with Lazy Oaks Ranch in accordance with Subchapter G, Chapter 212, Local Government Code and Chapter 2 of the City's Land Development Code ( "LDC "), to accomplish the following purposes: A. Extend the City's planning authority in accordance with the Conceptual Land Use Plan and the development regulations contained herein under which certain uses and development of the Property is authorized; and S. Authorize enforcement by the City of municipal land use and development regulations to the extent the same are consistent with the development regulations contained herein and in the same manner the applicable regulations are enforced within the City's municipal boundaries; and C. Authorize enforcement by the City of land use and development regulations other than those that apply within the City's boundaries, as may be agreed to by the Parties and included in this Agreement; and D. Specify the uses and development of the Property before and after annexation, if annexation is agreed to by the Parties; and E. Provide for infrastructure including, but not limited to, streets and roads, street and road drainage, land drainage, and water, wastewater and other utility systems; and F. Include such other lawful terms and considerations the Parties consider appropriate. NOW THEREFORE, the City and Lazy Oaks Ranch 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: 1649956.1