R-13-08-08-G1 - 8/8/2013RESOLUTION NO. R -13-08-08-G1
WHEREAS, the City of Round Rock ("City") has previously entered into a Development
Agreement ("Agreement") with NNP-Teravista, LLC ("Developer") regarding the Teravista Project
("Project"); and
WHEREAS, the term of the Agreement, as stated in Section 11.01, may be extended, at
Developer's request and the City's approval, for up to three successive five-year periods; and
WHEREAS, the City and the Developer now desire to extend the term of the Agreement for an
additional five year period, ending on September 10, 2018, 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 Sixth
Amendment to the Development Agreement with NNP-Teravista, LLC, a copy of same being attached
hereto as Exhibit "A" and incorporated herein for all purposes.
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.
RESOLVED this 8th day of August, 2013.
ALAN MCGRAW, Mayor
City of Round Rock, Texas
ATTEST:
SARA L. WHITE, City Clerk
0112.1304;00279216
EXHIBIT
SIXTH AMENDMENT TO DEVELOPMENT AGREEMENT
This Sixth Amendment to Development Agreement (this "Sixth Amendment") is made to
be effective the date set forth below by and between the CITY OF ROUND ROCK, a home -rule
city in Williamson County, Texas (the "City") and NNP-TERAVISTA, LLC, a Texas limited
liability company ("Developer").
RECITALS:
A. The City and Developer (then known as Newland -Round Rock Associates, L.P., its
name having been changed to NNP-Teravista, LP as evidenced by change of name recorded under
Document No. 199982273 in the Official Public Records of Williamson County, Texas) entered
into a Development Agreement (the "Development Agreement") effective September 10, 1998,
setting forth various agreements and understandings with respect to the development of
approximately 1,181 acres of land located within the extraterritorial jurisdiction of the City as a
master -planned, mixed use community to be known as "Stonewater" as more particularly described
in the Development Agreement.
B. Developer changed the name of the project to "Teravista," and has developed
substantial portions of the residential areas of the project, including completion of the golf course,
club house and related facilities.
C. Section 11.01 of the Development Agreement states that the 15 year term of the
Agreement may be extended, at Teravista's request and the City's approval, for up to three
successive five-year periods.
NOW, THEREFORE, in consideration of the premises set forth in the Recitals above, the
mutual covenants and agreements of the parties as hereinafter set forth, the mutual benefits to be
derived by the present and future residents of the City and the Developer, and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the City and
the Developer hereby agree that effective only upon the satisfaction of all of the Conditions to
Effectiveness, as defined below, the Development Agreement shall be amended as follows:
1. The Term of the Development Agreement, as stated in Section 11.01, is hereby
extended for an additional five year period, ending on September 10, 2018.
1
Executed by the City and the Developer on the dates of their respective acknowledgements
below.
Attest:
Sara White, City Secretary
Approved as to form:
Stephan L. Sheets, City Attorney
CITY:
CITY OF ROUND ROCK
By:
Alan McGraw, Mayor
DEVELOPER:
NNP-TERAVISTA, LLC
By: NNP-Teravista, LLC
A Texas limited liability company
By:
Name:
Title:
2
STATE OF TEXAS
§
COUNTY OF WILLIAMSON §
This instrument was acknowledged before me on the day of , 2013, by
Alan McGraw, as Mayor of CITY OF ROUND ROCK, a home -rule city located in Williamson
County, Texas, on behalf of said city.
Notary Public, State of Texas
Print Name:
STATE OF TEXAS
§
COUNTY OF WILLIAMSON §
This instrument was acknowledged before me on the day of , 2013, by
E. William Meyer, Vice President of NNP-Teravista, LLC, a Texas limited liability company.
Notary Public, State of Texas
Print Name:
3
Pill'
ROCK, TEXAS
OSE. PASSION PROSPERITY
City of Round Rock
Agenda Item Summary
Agenda Number: G.1
Title: Consider a resolution authorizing the Mayor to execute the Sixth
Amendment to the Development Agreement with NNP - Teravista LLC.
Type: Resolution
Governing Body: City Council
Agenda Date: 8/8/2013
Dept Director: Brad Wiseman, Planning & Development Services Director
Cost:
Indexes:
Attachments: Resolution, Exhibit A, Teravista Master Plan
Text of Legislative File 13-404
The City and NNP - Teravista LLC executed a development agreement for the Teravista
project, a master planned development area containing residential and commercial uses,
located north of University Boulevard and west of FM 1460, largely located in the City's
extraterritorial jurisdiction (ETJ). Of the approximately 1,005 acres of Teravista within the
ETJ, about 25 acres are yet to be developed. This proposed amendment provides the
developer with an additional 5 years to develop these 25 acres.
The agreement was approved in 1998 and included the consent to create a Municipal Utility
District (MUD) and provisions for utilities, including water and wastewater. In addition, a
concept plan for the development of the land was approved by the City. The agreement
has since been amended to include additional land and to update and amend the concept
plan.
The term of the agreement was set at 15 years from the approval date, ending on August
27, 2013. Article XI, Section 11.01 allows for up to three successive five year extensions,
as requested by the developer and approved by the City Council. The developer has
requested this first term extension in order to have time to complete the development of the
remaining 25 acres.
Staff recommends approval of the amendment.
City of Round Rock Page 1 Printed on 8/5/2013
SIXTH AMENDMENT TO DEVELOPMENT AGREEMENT
This Sixth Amendment to Development Agreement (this "Sixth Amendment") is made to
be effective the date set forth below by and between the CITY OF ROUND ROCK, a home -rule
city in Williamson County, Texas (the "City") and NNP-TERAVISTA, LLC, a Texas limited
liability company ("Developer").
RECITALS:
A. The City and Developer (then known as Newland -Round Rock Associates, L.P., its
name having been changed to NNP-Teravista, LP as evidenced by change of name recorded under
Document No. 199982273 in the Official Public Records of Williamson County, Texas) entered
into a Development Agreement (the "Development Agreement") effective September 10, 1998,
setting forth various agreements and understandings with respect to the development of
approximately 1,181 acres of land located within the extraterritorial jurisdiction of the City as a
master -planned, mixed use community to be known as "Stonewater" as more particularly described
in the Development Agreement.
B. Developer changed the name of the project to "Teravista," and has developed
substantial portions of the residential areas of the project, including completion of the golf course,
club house and related facilities.
C. Section 11.01 of the Development Agreement states that the 15 year term of the
Agreement may be extended, at Teravista's request and the City's approval, for up to three
successive five-year periods.
NOW, THEREFORE, in consideration of the premises set forth in the Recitals above, the
mutual covenants and agreements of the parties as hereinafter set forth, the mutual benefits to be
derived by the present and future residents of the City and the Developer, and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the City and
the Developer hereby agree that effective only upon the satisfaction of all of the Conditions to
Effectiveness, as defined below, the Development Agreement shall be amended as follows:
1. The Term of the Development Agreement, as stated in Section 11.01, is hereby
extended for an additional five year period, ending on September 10, 2018.
1
2.-‘5--OD-o- %4
below.
Attest:
Executed by the City and the Developer on the dates of their respective acknowledgements
Sccrctary City c4 ---IL.
W ite
Approv
as to form:
Stephan L,. heets, City Attorney
CITY:
CITY OF ROUND ROCK
By:�
,/L -
Alan McGraw, Mayor
DEVELOPER:
NNP-TERAVISTA, LLC
By: NNP-Teravista, LLC
A Texas limited liability company
By:
Name:
Title:
VI C-9- 'F17 -.S ImpttT
2
STATE OF TEXAS §
COUNTY OF WILLIAMSON §
This instrument was acknowledged before me on the day of AutIUS1 , 2013, by
Alan McGraw, as Mayor of CITY OF ROUND ROCK, a home -rule city located in Williamson
C4it9'"tP iw ; on behalf of said city.
• iP„IiGen •�m ' --1-Yle f1(1, t Lkion
▪ N �� y = Notary Pub , State oas
Print Name: Mt 4.30.f 4y\. SXV1k3
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OFO•'Q
,,, 09-201
9 N 0; `A```\\\��
STATE OF TEXAS
§
COUNTY OF WILLIAMSON §
This instrument was acknowledged before me on the 17111 day of -SA (y , 2013, by
E. William Meyer, Vice President of NNP-Teravista, LLC, a Texas limited liability company.
VILIA ANN BAILEY
Notary Public, State of Texas
My Commission Expires
D@Cember 06, 2016
1
Notary`Prublic
Print Name:
tate of Texas
IhiU I Ql/
3
RECORDED
DOCUMENT
FOLLOW
O 0
SIXTH AMENDMENT TO DEVELOPMENT AGREEMENT
This Sixth Amendment to Development Agreement (this "Sixth Amendment") is made to
be effective the date set forth below by and between the CITY OF ROUND ROCK, a home -rule
city in Williamson County, Texas (the "City") and NNP-TERAVISTA, LLC, a Texas limited
liability company ("Developer").
RECITALS:
A. The City and Developer (then known as Newland -Round Rock Associates, L.P., its
name having been changed to NNP-Teravista, LP as evidenced by change of name recorded under
Document No. 199982273 in the Official Public Records of Williamson County, Texas) entered
into a Development Agreement (the "Development Agreement") effective September 10, 1998,
setting forth various agreements and understandings with respect to the development of
approximately 1,181 acres of land located within the extraterritorial jurisdiction of the City as a
master -planned, mixed use community to be known as "Stonewater" as more particularly described
in the Development Agreement.
B. Developer changed the name of the project to "Teravista," and has developed
substantial portions of the residential areas of the project, including completion of the golf course,
club house and related facilities.
C. Section 11.01 of the Development Agreement states that the 15 year term of the
Agreement may be extended, at Teravista's request and the City's approval, for up to three
successive five-year periods.
NOW, THEREFORE, in consideration of the premises set forth in the Recitals above, the
mutual covenants and agreements of the parties as hereinafter set forth, the mutual benefits to be
derived by the present and future residents of the City and the Developer, and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the City and
the Developer hereby agree that effective only upon the satisfaction of all of the Conditions to
Effectiveness, as defined below, the Development Agreement shall be amended as follows:
1. The Term of the Development Agreement, as stated in Section 11.01, is hereby
extended for an additional five year period, ending on September 10, 2018.
1
2.'k,- vs—DO— Gt
below.
Attest:
O 0
Executed by the City and the Developer on the dates of their respective acknowledgements
Sccrctary City VIL•
ite W
Approv
as to form:
Stephan L
heets, City Attorney
CITY:
CITY OF ROUND ROCK
By: 111 ,A ---
Alan McGraw, Mayor
DEVELOPER:
NNP-TERAVISTA, LLC
By: NNP-Teravista, LLC
A Texas limited liability company
By:
Name:
Title:
Vi C -P- 'Peas vicyr4JT
2
O 0
STATE OF TEXAS §
COUNTY OF WILLIAMSON §
This instrument was acknowledged before me on the day of AUClUs" r , 2013, by
Alan McGraw, as Mayor of CITY OF ROUND ROCK, a home -rule city located in Williamson
Cw t.'tP �, on behalf of said city.
� GAN M• ;I/,
•.......
PGS %.'14 t
�9 P • - Notary Pub , State of as
`• �� •
OF A- Print Name: m{4-g0.Yl 04. SpytkS
,/11/01111N111►1 ".
STATE OF TEXAS
COUNTY OF WILLIAMSON
This instrument was acknowledged before me on the l7 day of �� Iy , 2013, by
E. William Meyer, Vice President of NNP-Teravista, LLC, a Texas limited liability company.
VILIA ANN BAILEY
Notary Public, State of Texas
My Commission Expires
December Oi, 2015
0-00-bfr&(
1
Notary ublic
Print Name:
tate of Texas
ilia ea ; I itt(
3