R-09-01-22-9A1 - 1/22/2009RESOLUTION NO. R -09-01-22-9A1
WHEREAS, the City of Round Rock ("City") has previously entered
into a Development Agreement with Behrens Subdivision, Ltd.
("Developer"), regarding a public improvement district (the
Agreement"), and
WHEREAS, on January 8, 2009, the City Council adopted
Resolution No, R -09-01-08-8D1, which authorized the Mayor to execute
the First Amendment to the Agreement modifying certain terms and
conditions of that Agreement (the "Amendment");
WHEREAS, pursuant to the Amendment, the City desires to
reimburse Developer the amount of THREE MILLION THREE HUNDRED
NINETY-EIGHT THOUSAND AND NO/100 DOLLARS ($3,398,000.00) for costs
incurred by Developer
Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS,
That the Director of Finance
for
the construction of public improvements,
is
hereby
authorized to reimburse
to Developer, or its assigns, the sum of THREE MILLION THREE HUNDRED
NINETY-EIGHT THOUSAND AND NO/100 DOLLARS ($3,398,000.00), pursuant
to Section 1 of the Amendment.
The City Council hereby finds and declares that written notice
of the date, hour, place and subject of the meeting at which this
Resolution was adopted was posted and that such meeting was open to
the public as required by law at all times during which this
Resolution and the subject matter hereof were discussed, considered
and formally acted upon, all as required by the Open Meetings Act,
Chapter 551, Texas Government Code, as amended.
O:\WDOX\RESOLUTI\R90122A1.DOC/jmr
RESOLVED this 22nd day of January, 2009.
ATTEST:
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SARA L. WHITE, City Secretary
2
ALAN MCGRAW, Mayor
City of Round Rock, Texas
DATE: January 15, 2009
SUBJECT: City Council Meeting — January 22, 2009
ITEM: 9A1. Consider a resolution approving the reimbursement to Behrens
Subdivision N.G., LTD. for public improvements.
Department:
Staff Person:
Justification:
Administration
David Kautz, Assistant City Manager/CFO
Pursuant to the amendment to the Development Agreement with Behrens Subdivision N.G.,
LTD approved on January 8, 2009, the City agreed to reimburse the developer for the remaining
amount associated with the public improvements completed in the Behrens Ranch subdivision.
The public improvements included the construction of Wyoming Springs and drainage channel
improvements. The amount to be reimbursed is $3,398,000 and the funds will be sourced from
the Transportation System Development Corporation (4B) and Regional Detention funds. Over
time, the City will receive full reimbursement of through the annual Behrens Ranch PID
assessments also assigned to the City in the amendment to the Development Agreement.
Funding:
Cost: $3,398,000
Source of funds: 4B — Wyoming Springs Street & Erosion - $1,616,552
Regional Detention Channel Improvements - $1,781,448
Outside Resources:
Jim Meredith, president of Behrens Subdivision N.G., LTD
Background Information:
The Council approved the amendment to the development agreement on January 8, 2009.
Public Comment: N/A