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

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SECTION 1: GENERAL TERMS AND CONDITIONS 1.01 Conceptual Land Use Plan The City hereby approves the general use and development of the Property in accordance with the Conceptual Land Use Plan, which is incorporated herein as Exhibit "B ". The Conceptual Land Use Plan shall constitute the land use plan under Section 1.4.2.4(g) of the LDC. The Conceptual Land Use Plan may be amended from time to time in accordance with the processes and procedures outlined in Section 1.4.2.6(c) of the City's LDC. Development applications for the Property shall be consistent with the Conceptual Land Use Plan. 1.02 Annexation Upon approval of this Agreement, Lazy Oaks Ranch agrees to the full purpose annexation of the Property at the time the corporate limits of the City becomes adjacent to the Property. Provided, however, that the City hereby agrees to phase the annexation of the Property as follows: At the time the City's corporate limits become adjacent to the Property, the City may initiate the full purpose annexation of all or any portion of the Property on which a subdivision plat application (preliminary plat, or final plat) has been submitted. Upon annexation of all or any portions of the Property, the applicant shall initiate a zoning change for said annexed portions to establish a zoning district(s) that is (are) consistent with the terms and conditions of this Agreement. The City hereby guarantees the continuing ETJ status of the remainder of the Property not subject to a submitted plat application until such time that a subdivision plat application is submitted for all or any portion of such remainder of the Property. The Parties hereby agree that all applicable regulations and planning authority of the City's LDC may be enforced on the Property. The limitations on the City's annexation authority shall apply only during the term of this Agreement. 1.03 Governing Development Regulations A. Development of the Property shall be governed by the following: 1. The Conceptual Land Use Plan and this Agreement; and 2. The applicable provisions of the City's LDC and Ordinances; and 3. Construction plans and final plats for all or any portion of the Property that are approved from time to time by the City (collectively, the "Approved Plats "). 4. The Parties acknowledge that prior to or concurrent with the submittal of the first plat application for development on the Property or any portion thereof, a Watershed Protection Plan, Phase One, including any required environmental studies and /or geologic assessments, and a Traffic Impact Analysis (the "TIA ") will be required (collectively "the Required Studies "). At the time of submittal of the TIA, the traffic impacts shall be evaluated based on the full build -out development of the entire project (as defined in Section 1.04, below) and not on the individual plat. 5. Applicable provisions of the Texas Local Government Code, and other state and federal laws ( "Other Laws "). B. The Conceptual Land Use Plan, this Agreement, the LDC, the Approved Plats, the Required Studies and Other Laws shall hereinafter be referred to collectively as the "Governing Regulations." C. Plat Approval: Lazy Oaks Ranch and the City agree that the approved land uses in each final plat of portions of the Property shall be consistent with the Conceptual Land Use Plan, as may be amended from time to time. D. Enforcement: The Parties agree that the City shall be entitled to enforce all applicable municipal land use and development regulations for the Property and the Governing Regulations in the same manner that such land use and development regulations and Governing Regulations are or could be enforced within the entirety of the City's corporate 2 1649956.1