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RESOLUTION NO. 2009-166R <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />• <br />SAN MARCOS, TEXAS. APPROVING A DEVELOPMENT <br />AGREEMENT SUBMITTED BY CRADDOCK AVENUE <br />PARTNERS, LLC, FOR THE BUIE TRACT PROPERTY, A <br />148.774 ACRE, MORE OR LESS, TRACT OF LAND <br />LOCATED ALONG THE CRADDOCK ROAD EXTENSION <br />AND THE CONFLUENCE OF THE WONDER WORLD <br />DRIVE EXTENSION; AUTHORIZING THE CITY MANAGER <br />TO EXECUTE A DEVELOPMENT AGREEMENT; AND <br />DECLARING AN EFFECTIVE DATE. <br />RECITALS: <br />1. Craddock Avenue Partners, LLC ("Developer") is interested in constructing a <br />mixed use development on a portion of the Buie Tract consistent with existing and <br />adjacent land uses. <br />2. In order to develop the property in an economically feasible manner, and in <br />an effort to protect sensitive environmental features the City staff and the Developer <br />propose that the attached agreement be approved. <br />• 3. The proposed agreement permits more dense development along the <br />Craddock Avenue extension in exchange for much less density in those areas of the <br />property that lie over sensitive environmental features. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />PART 1. The attached Development Agreement submitted by Craddock Area <br />Partners, LLC hereby approved.. <br />PART 2. The City Manager, Rick Menchaca, is authorized to execute the <br />development agreement. <br />