M&C Review


COUNCIL ACTION:  Approved on 11/11/2014 

DATE: 11/11/2014 REFERENCE NO.: C-27076 LOG NAME: 12SOUTHTRACTAMND2014
CODE: C TYPE: NON-CONSENT PUBLIC HEARING: NO
SUBJECT:  

Authorize Execution of an Amendment to the South Tract Development Agreement, City Secretary No. 31707, with Southwest Pasture Ltd. an Affiliate of Edwards Geren Limited, to Extend the Term Five Years and Delay Full-Purpose Annexation Until on or After December 31, 2019 (COUNCIL DISTRICT 6)


RECOMMENDATION:

It is recommended that the City Council authorize the execution of an Amendment to the South Tract Development Agreement, City Secretary Contract No. 31707, with Southwest Pasture Ltd. an affiliate of Edwards Geren Limited, to extend the term of the Agreement and delay the date at which the City may initiate full-purpose annexation until on or after December 31, 2019.

 
DISCUSSION:

On December 7, 2004, the City of Fort Worth and Edwards Geren Limited (EGL), entered into a Development Agreement (City Secretary Contract No. 31707).  Under the Agreement, EGL, a Texas Limited partnership, owning approximately 277 acres located north of Oakmont Boulevard, west of Hulen Street, south of Overton Ridge Boulevard and east of Bryant Irvin Road (the Property) agreed to an annexation for limited purposes by the City of the Property, related development regulations applicable during limited purpose annexation and mutually agreed with the City to delay for ten years full-purpose annexation by the City until on or after December 31, 2014.  

The ten year South Tract Development Agreement for the development of the Property sets out the terms of applicable regulations, the application of development fees and construction of utilities related to the construction of the Chisholm Trail Parkway, the costs of on-site infrastructure required for the development of the Property, impact fees, water and sewer service and other services provided by the City. In addition, the Property may be used by EGL for farming, ranching and related activities prior to full annexation.

On December 28, 2012, EGL conveyed the Property to an affiliate, Southwest Pasture Ltd., a Texas limited partnership (Instrument No. D212318326).  Southwest Pasture Ltd. has approached the City to request an extension to the Agreement to postpone the full purpose annexation of the Property into the City until on or after December 31, 2019 and to amend the Agreement term from ten years to fifteen years in length.

Staff recommends amending the South Tract Development Agreement to reflect a new December 31, 2019 term for the Agreement and delay of full-purpose annexation by the City of the South Tract until on or after December 31, 2019.

The Property is located in COUNCIL DISTRICT 6.

 
FISCAL INFORMATION/CERTIFICATION:

The Financial Management Services Director certifies that this action will not increase the total appropriations of City funds.

 
TO Fund/Account/Centers
 
FROM Fund/Account/Centers

Submitted for City Manager's Office by:
Fernando Costa (6122)
Originating Department Head:
Sarah J. Fullenwider (7606)
Additional Information Contact:
Melinda Ramos (7631)

 
 
ATTACHMENTS
  12SOUTHTRACTAMND2014 ExhibitMap_Area-J.pdf