R-12-06-28-G7 - 6/28/2012 RESOLUTION NO. R-12-06-28-G7
WHEREAS, the City of Round Rock ("City") has previously entered into a Development
Agreement ("Agreement") with SBB Holdings, L.P. ("Developer") regarding the development of a
certain 98.19 acre tract of land (now 73.6 acres) located at the southeast corner of the intersection of
University Boulevard and Sandy Brook Drive; and
WHEREAS, the City and the Developer now wish to amend the aforesaid Agreement, Now
Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS,
That the Mayor is hereby authorized and directed to execute on behalf of the City, a Second
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Amended Development Agreement with SBB Holdings, L.P., a copy being attached hereto as Exhibit j
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"A"and incorporated herein for all purposes.
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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
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hereof were discussed, considered and formally acted upon, all as required by the Open Meetings Act,
Chapter 551, Texas Government Code, as amended.
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RESOLVED this 28th day of June, 2012.
/ yl Y
ALAN MCGRAW, Mayor
City of Round Rock, Texas
ATTEST:
SARA L. WHITE, City Clerk
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SECOND AMENDED DEVELOPMENT AGREEMENT
This SECOND AMENDED DEVELOPMENT AGREEMENT ("Second Amended
Agreement") is executed between the City of Round Rock, Texas, a political subdivision of the
State of Texas (the "City") and SBB Holdings, L.P., a Texas limited partnership (the
"Developer") to be effective on this the day of 20 (the
"Effective Date").
RECITALS:
4
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WHEREAS, the City and the Developer entered into a Development Agreement (the
"Agreement") effective October 23, 2008, and adopted in Resolution No. R-00-10-23-12A1,
setting further various agreements and understandings with respect to the development of a
certain 98.19 acres (now 73.6 acres) located at the southeast coiner of the intersection of
University Boulevard and Sandy Brook Drive in Round Rock, Texas, more particularly
described in Exhibit"A", attached hereto(the"Property"); and
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WHEREAS, the City and the Developer amended the Agreement effective January 28,
2012,and adopted in Resolution No. R-10-01-28-10A1; and
WHEREAS,the City and the Developer wish to further amend the Agreement;
NOW THEREFORE, in consideration of the premises set forth above and of the mutual
covenants and agreements of the parties hereto,the City and the Developer agree as follows: s>
AGREEMENT
Article 1. Amendments.
I. The Developer has paid in cash to the City the amount of One Hundred Ninety-
Three
inety-Th ee Thousand One Hundred Twenty-four and No/100 Dollars ($193,124.00) as his share for
the cost of widening Sandy Brook Drive from University Boulevard to forty (40) feet south of
Zodiac Drive.
00249769.DOCx
2. The Developer shall remit to the City the amount of One Hundred Forty-Three
Thousand Four Hundred Twenty-Nine and No/100 Dollars ($143,429.00) as his share for the
cost of widening Sandy Brook Drive from forty(40) feet south of Zodiac Drive to 475 feet south
of Haynie Bend. This amount shall only be due and payable within fifteen (15) days before the
City awards a contract to construct this portion of Sandy Brook Drive. If an award to construct
this portion of Sandy Brook Drive is not made on or before the fifth anniversary of the Effective
Date of this Second Amended Agreement, then the One Hundred Forty-Three Thousand Four
i
Hundred Twenty-Nine and No/100 Dollars ($143,429.00) shall no longer be due and owing by f
the Developer.
3. Except as expressly amended and modified hereby, the Agreement and the First
Amended Agreement shall continue in frill force and effect.
4. The Effective Date for the conditions stated herein shall be the date this Second
Amended Agreement is approved by the City Council.
ATTEST: CITY OF ROUND ROCK,TEXAS
By:
Alan McGraw, Mayor
Date:
SBB HOLDINGS, LP
A Texas limited partnership
By: SBB Holdings GP, LLC
A Texas limited liability company
Its general partner
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ACKNOWLEDGMENT
STATE OF TEXAS §
COUNTY OF:Th Vl,S §
This instrument�vas ack wledged before me on 12012 by
oil �c��_nipvanyv,
C�510�P,n _for SBB Ho dings GP,LLC,a Texas
limited liabilieral partner to SBB Holdings, LP, a Texas limited partnership on
behalf of said company and limited partnership.
MELISSA CALLES
Notary Public,State of Texas s
My Commission Expires
Aril 28
p , 201 5 Notary Public, State of Texas
ACKNOWLEDGMENT
STATE OF TEXAS §
COUNTY OF
This instrument was acknowledged before me on ,2012 by Alan
McGraw, as Mayor of the City of Round Rock, Texas,
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Notary Public,State of Texas
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ROUNDROCK,TEW Citv Council A enda Summar Sheet
PURPOSE.PASSION.PROSPER".
Agenda Item No. G7.
Consider a resolution authorizing the Mayor to execute a Second Amended Development
Agreement with SBB Holdings, LP regarding funding and construction of Sandy Brook
Agenda Caption: Drive.
Meeting Date: June 28, 2012
Department: Transportation
Staff Person making presentation: Gary Hudder
Transportation Director
Item Summary:
On October 23, 2008 the City Council executed a development agreement with SBB Holdings, L.P. regarding the
development of infrastructure related to the University Village development. This development agreement was
amended January 28, 2010 - this first amendment addressed infrastructure improvements and the timing of
payment for certain infrastructure items, including the widening of Sandy Brook Drive. This widening was proposed
for completion under two separate projects, the first between University Boulevard and Zodiac (the Northern
Section)and the second between Zodiac and approximately 475 feet south of Haynie Bend (the Southern Section).
Recently, the City's consultant reviewed the developer's construction estimates for the North Section and adjusted x
the estimate to reflect the latest construction costs. Also, the City's consultant made an evaluation of the Southern
Section of the roadway, and identified a number of concerns related to water quality that could dramatically affect
the construction costs for the project.
Subsequently, City staff and the developer negotiated this proposed amendment to the development agreement
that allows for the developer to pay the revised estimated costs for the Northern Section, and to pay the remaining
estimated costs for the Southern Section if and when the City pursues this widening project. The developer has i
already remitted$193,124 to the City for the Northern Section.
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Cost: N/A
Source of Funds: N/A
Date of Public Hearing(if required): N/A
Recommended Action: Approval
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ORIGINAL
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OCUMENTS
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SECOND AMENDED DEVELOPMENT AGREEMENT
This SECOND AMENDED DEVELOPMENT AGREEMENT ("Second Amended
Agreement") is executed between the City of Round Rock, Texas, a political subdivision of the
State of Texas (the "City") and SBB Holdings, L.P., a Texas limited partnership (the
"Developer") to be effective on this the Z&day of VVI 2012— (the
"Effective Date").
I
RECITALS:
WHEREAS, the City and the Developer entered into a Development Agreement (the
W
"Agreement") effective October 23, 2008, and adopted in Resolution No. R-00-10-23-12A1,
setting further various agreements and understandings with respect to the development of a
certain 98.19 acres (now 73.6 acres) located at the southeast corner of the intersection of
University Boulevard and Sandy Brook Drive in Round Rock, Texas, more particularly
described in Exhibit"A", attached hereto (the"Property");and
WHEREAS, the City and the Developer amended the Agreement effective January 28,
2012,and adopted in Resolution No. R-10-01-28-1 OA1; and ff
WHEREAS,the City and the Developer wish to further amend the Agreement;
NOW THEREFORE, in consideration of the premises set forth above and of the mutual
covenants and agreements of the parties hereto,the City and the Developer agree as follows:
AGREEMENT
i
Article 1. Amendments.
1. The Developer has paid in cash to the City the amount of One Hundred Ninety-
Three
inety-Th ee Thousand One Hundred Twenty-four and No/100 Dollars ($193,124.00) as his share for
the cost of widening Sandy Brook Drive from University Boulevard to forty (40) feet south of
Zodiac Drive.
00249769.DOC\
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2. The Developer shall remit to the City the amount of One Hundred Forty-Three
Thousand Four Hundred Twenty-Nine and No/100 Dollars ($143,429.00) as his share for the
cost of widening Sandy Brook Drive from forty (40) feet south of Zodiac Drive to 475 feet south
of Haynie Bend. This amount shall only be due and payable within fifteen (15) days before the
City awards a contract to construct this portion of Sandy Brook Drive. If an award to construct
this portion of Sandy Brook Drive is not made on or before the fifth anniversary of the Effective
Date of this Second Amended Agreement, then the One Hundred Forty-Three Thousand Four
i
Hundred Twenty-Nine and No/100 Dollars ($143,429.00) shall no longer be due and owing by
the Developer.
3. Except as expressly amended and modified hereby, the Agreement and the First
Amended Agreement shall continue in frill force and effect.
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4. The Effective Date for the conditions stated herein shall be the date this Second
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Amended Agreement is approved by the City Council x
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ATTEST: CITY OF ROUND ROCK,TEXAS
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Alan McGraw, Mayor
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SBB HOLDINGS, LP
A Texas limited partnership
By: SBB Holdings GP, LLC
A Texas limited liability company
Its general partner {
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By:
Printe 'Naive:" jIf l
Title: J
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ACKNOWLEDGMENT
STATE OF TEXAS
§
COUNTY OF:Tja.VI S §
This instrument was ackwledged before me on 2012 by I
for SBB Ho dings GP,LLC, a Texas
limited liability company, geAeral partner to SBB Holdings, LP, a Texas limited partnership on
behalf of said company and limited partnership. Y`
,�::p't ••,, MELISSA CAVES
Notary Public, State of Texas a
My Commission Expires
N April 28, 2015
Notary Public, State of Texas
ACKNOWLEDGMENT
STATE OF TEXAS
COUNTY OF Witt § `
This instrument was acknowledged before me on 2012 by Alan
McGraw, as Mayor of the City of Round Rock, Texas.
MEAGAN M. SPINKS
"? Notary Public,State of Texas Notary Pu41attat o e s f
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SECOND AMENDED DEVELOPMENT AGREEMENT
This SECOND AMENDED DEVELOPMENT AGREEMENT ("Second Amended
Agreement") is executed between the City of Round Rock, Texas, a political subdivision of the
State of Texas (the "City") and SBB Holdings, L.P., a Texas limited partnership (the w D
�y,_ A
"Developer") to be effective on this the Z&day of 20tl— (the
"Effective Date").
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RECITALS: N
WHEREAS, the City and the Developer entered into a Development Agreement (the
"Agreement") effective October 23, 2008, and adopted in Resolution No. R-0040-23-12A1, l
setting further various agreements and understandings with respect to the development of a
certain 98.19 acres (now 73.6 acres) located at the southeast comer of the intersection of
University Boulevard and Sandy Brook Drive in Round Rock, Texas, more particularly
described in Exhibit"A", attached hereto (the"Property"); and
WHEREAS, the City and the Developer amended the Agreement effective January 28,
2012,and adopted in Resolution No. R-10-01-28-1 OA1; and
a
WHEREAS,the City and the Developer wish to further amend the Agreement;
l
NOW THEREFORE, in consideration of the premises set forth above and of the mutual
l
covenants and agreements of the parties hereto,the City and the Developer agree as follows:
AGREEMENT
Article 1. Amendments.
1
I. The Developer has paid in cash to the City the amount of One Hundred Ninety-
Three
inety-
Th ee Thousand One Hundred Twenty-four and No/100 Dollars ($193,124.00) as his share for
the cost of widening Sandy Brook Drive from University Boulevard to forty (40) feet south of i
Zodiac Drive.
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00249769.DOC\
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2. The Developer shall remit to the City the amount of One Hwidred Forty-Three
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Thousand Four Hundred Twenty-Nine and No/100 Dollars ($143,429.00) as his share for the
cost of widening Sandy Brook Drive from forty (40) feet south of Zodiac Drive to 475 feet south
of Haynie Bend. This amount shall only be due and payable within fifteen (15) days before the a
i
City awards a contract to construct this portion of Sandy Brook Drive. If an award to construct j
i
this portion of Sandy Brook Drive is not made on or before the fifth anniversary of the Effective
Date of this Second Amended Agreement, then the One Hundred Forty-Three Thousand Four
Hundred Twenty-Nine and No/100 Dollars ($143,429.00) shall no longer be due and owing by
the Developer.
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3. Except as expressly amended and modified hereby, the Agreement and the First
i
Amended Agreement shall continue in full force and effect.
4. The Effective Date for the conditions stated herein shall be the date this Second
Amended Agreement is approved by the City Council.
ATTEST: CITY OF ROUND ROCK,TEXAS
By.
Alan McGraw, Mayor
��� L • iN�ll Gt u{i�/(G
Date: w' ' lL
SBB HOLDINGS, LP
A Texas limited partnership
By: SBB Holdings GP, LLC
A Texas limited liability company
Its general partner
By:
Printe Name:
Title: ffial
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ACKNOWLEDGMENT
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STATE OF TEXAS §
§
COUNTY OFlyayI S §
This instrument was ack wledged before me on ,2012 by
W m L� .��I�l(X,(LP.c.I, for SBB Ho dings GP,LLC, a Texas
limited liability company, geheral partner to SIRB Holdings, LP, a Texas limited partnership on
behalf of said company and limited partnership.
"" "''• MELISSA CALLES
I t��lPf►Y�G••i
Notary Public, state of Texas
My Commission Expires r
E:, April 28, 2015 Notary Public, State of Texas
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ACKNOWLEDGMENT
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STATE OF TEXAS §
COUNTY OF VV I( §
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This instrument was acknowledged before me on ,2012 by Alan I
McGraw, as Mayor of the City of Round Rock, Texas.
E�--111-112"- September
MEAGAN M. SPINKS NotaryPubl State o e s
ry Public,State of Texas
y Commission Expires
09, 2014
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FILED AND RECORDED
OFFICIAL PUBLIC RECORDS 2013042105
05/09/2013 12:00 PM
CPHELPS $24.00
NANCY E. RISTER, COUNTY CLERK
1;
WILLIAMSON COUNTY, TEXAS
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Cm OF ROUND ROEK
221 EAST MAIN SXR 8664
ROUND
ROCK,XX