Res 2003-092 - Laserfiche WebLink

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126. RESOLUTION NO. 2003- 92 R A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, APPROVING THE TERMS AND CONDITIONS OF A DEVELOPMENT AGREEMENT BETWEEN THE CITY AND VISION LAND GROUP CONCERNING THE PROPOSED COTTONWOOD CREEK DEVELOPMENT; AUTHORIZING THE CITY MANAGER TO EXECUTE THE AGREEMENT; AND DECLARING AN EFFECTIVE DATE. RECITALS: 1. Vision Land Group (the "Developer") is the owner of those certain ix'acts of land in San Mm'cos, Texas, more fully described on Exhibit A (the "Property") to the Development Agreement Concerning Proposed Cottonwood Creek Development (the "Agreement") attached to this resolution. 2. The City Plam~ing and Zoning Commission approved a subdivision master plan (the "Master Plan") for the proposed Cottonwood Creek development on the Property on May 28, 2002, a copy of which is attached as Exlfibit B to the Agreement, and the City Coancil has approved zoning for the Property. 3. The Developer desires to develop the Property in accordance with the Master Plan. 4. The City Council finds and determines that the development of the Project will be a significant initial step in promoting local economic development and stimulation of business and commercial activity in a preferred growth area of the City to the east of Interstate HighwaYS35 and along State Highway 123 South, and will significantly increase the property tax base and retail sales of the City, and that construction of the Project is in the best interests of the City. 5. The City has enacted development regnlations which govern development of the Property, including but not limited to the City of San Marcos subdivision regulations, construction codes, drainage and erosion cmm'ol ordinance, construction standards and specifications for streets, utilities, and other public improvements, and zoning (the "Development Regulations"); and the Developer is proposing to develop the Project on the Property in accordance with the Development Regulations. 6. The City and the Developer have determined that the development of the Property will best be accomplished through a development agreement, and the Developer and the City desire to enter into a development agreement for the Project. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: PART 1. The terms and conditions of the Agreement are approved.