R-2020-0043 - 2/13/2020 RESOLUTION NO. R-2020-0043
WHEREAS, RGC Ventures, LLC ("Developer") is proposing to build an affordable housing
development("Project") at 150 Mays Crossing Drive in the City of Round Rock ("City"); and
WHEREAS, the City and Developer desire to enter into a Development Agreement to identify
the responsibilities of the Developer and the City in regards to the development of such a Project, 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 the attached
Development Agreement, 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 13th day of February, 2020.
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CRAIGOR2k,
, Mayor
City of Round Texas
ATTEST:
SARA L. WHITE, City Clerk
0112.20202;004238851
EXHIBIT
«A„
DEVELOPMENT AGREEMENT
This Development Agreement ("the Agreement") is made by and between the CITY OF
ROUND ROCK, TEXAS, (the "City") and RGC VENTURES, LLC, (the "Developer") on this
13th day of February, 2020.
RECITALS
WHEREAS, Developer is proposing to build an affordable housing development (the
"Project") at 150 Mays Crossing in the City of Round Rock, Williamson County, Texas, as shown
in Exhibit"A", attached hereto; and
WHEREAS, the Developer proposes to apply for financing for the Project, specifically
Low Income Housing Tax Credits ("Tax Credits") from the Texas Department of Housing and
Community Affairs ("TDHCA"); and
WHEREAS, pursuant to Section 2306.67071 of the Texas Government Code, the
Developer has provided notice to the City of its intent to file for Tax Credits with TDHCA; and
WHEREAS, the City has held a public hearing regarding the Project as required by
Section 2306.67071; and
WHEREAS, pursuant to Section 2306.67071, after due consideration of the information
provided by the Developer, the City must decide whether to accept or object to the Developers
application for Tax Credits to the TDHCA.
NOW THEREFORE, the parties hereto agree as follows:
ARTICLE I
1. Recitals. The City hereby finds that the Recitals stated above are true and correct.
2. No Objections. Subject to the conditions stated herein, the City hereby approves
Developer's application for Tax Credits with the TDHCA.
00439171/cdc
3. Developer's Obligations. The Developer,in consideration for the City's approval as stated
above, agrees to the following:
(a) Developer, its successors and assigns, agree to develop the Property pursuant to all
the requirements of Ordinance No. 0-2018-5966, also known as PUD No. 9. In addition,
Developer, its successors and assigns agree that any exterior finish of any portion of an
open parking deck structure shall consist of masonry, stone, simulated stone or brick. The
fagade shall be screened from view by landscaping, including but not limited to berms and
plant materials.
(b) Developer, its successors and assigns, agree that up to 244 individual units may be
constructed on the Property, consisting of a maximum of 30 two bedroom units measuring
approximately 1,020 square feet in size, with the remainder consisting of studio units
measuring approximately 580 square feet in size and one bedroom units measuring
approximately 700 square feet in size. No three bedrooms units will be allowed. Any
deviations from the above-cited square footage numbers must be approved by the City prior
to construction.
(c) The Developer, its successors and assigns, agree to not pursue any tax exemptions
or abatements for the project.
(d) The Developer agrees to pay any required impact fees,as provided for in the Round
Rock Code of Ordinances.
ARTICLE II
1. No Joint Venture. It is acknowledged and agreed by the parties that the terms of this
Agreement are not intended to and shall not be deemed to create a partnership of joint venture
among parties. Neither party shall have any authority to act on behalf of the other party under any
circumstances.
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2. Notice of Bankruptcy. In the event Developer files for bankruptcy, whether involuntarily
or voluntary, Developer shall provide written notice to the City within three (3) business days of
such event.
3. Authorization. Each party represents that it has full capacity and authority to grant all
rights and assume all obligations that is granted and assumed under this Agreement
4. Notice. Any notice required or permitted to be delivered hereunder shall be deemed
received three(3)days thereafter sent by United States Mail,postage prepaid, certified mail,return
receipt requested, addressed to the party at the address set forth below (or such other address as
such party may subsequently designate in writing)or on the day actually received if sent by courier
or otherwise hand delivered.
If Intended for the City:
City of Round Rock, Texas
Attention: Laurie Hadley
City Manager
221 E. Main Street
Round Rock, Texas 78664
With a copy to:
City of Round Rock, Texas
Attention: Steve Sheets
City Attorney
309 E. Main Street
Round Rock, Texas 78664
If intended for the Developer:
RGC Ventures, LLC
Attn: Dan Rigney
4003 Crest Cove
Round Rock, Texas 78681
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5. Entire Agreement. This Agreement is the entire Agreement between the parties with
respect to the subject matter covered in this agreement. There is no collateral oral or written
agreement between parties that in any matter relates to the subject matter of this Agreement.
6. Governing Law. This Agreement shall be governed and construed in accordance with the
laws of the State of Texas,without giving effect to any conflicts of law rule or principle that might
result in the application of the laws of another jurisdiction. Venue for any action concerning the
Agreement shall be in Williamson County, Texas.
7. Amendment. This Agreement may only be amended by the mutual written agreement of
the parties.
8. Severability. In the event one or more of the provisions contained in this Agreement shall
for any reason be held invalid, illegal, or unenforceable in any respect, such invalidity, illegality,
or unenforceability shall not affect other provisions, and it is the intention of the parties to this
Agreement that in lieu of each provision that is found to be illegal invalid or unenforceable a
provision shall be added to this Agreement which is legal, valid and enforceable and is as similar
in ten-ns as possible to the provision found to be illegal, invalid or unenforceable.
9. Assignment. This Agreement may not be assigned without the written consent of the City.
10. Authorized to Bind. The persons who execute their signatures to this Agreement and any
certifications related to this Agreement represent and agree that they are authorized to sign and
bind their respective parties to all of the terms and conditions contained herein.
11. Counterparts. This Agreement may execute in counterparts. Each of the counterparts shall
be deemed an original instrument, but all of the counterparts shall constitute one and the same
instrument.
12. Default. If Developer, its successors or assigns, fail to comply with any of the terms and
conditions of this Agreement, including but not limited to pursuance of tax exemptions or
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abatements as referenced in Section I.3.(c)above,this failure shall be an act of default. In the event
of default, City reserves the right to utilize all available remedies under law and equity.
Executed on this day of , 2020.
[Signatures on the following page.]
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DEVELOPER:
RGC VENTURES, LLC
By:
Its:
CITY:
ROUND ROCK, TEXAS
By:
Craig Morgan, Mayor
Attest:
Sara White, City Clerk
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ACKNOWLEDGMENT
STATE OF TEXAS
COUNTY OF WILLIAMSON
This instrument was acknowledged before me on 2020,
by Craig Morgan, Mayor of the City of Round Rock, Texas, on behalf of said city.
Notary Public, State of Texas
My Commission expires:
ACKNOWLEDGMENT
STATE OF TEXAS
COUNTY OF WILLIAMSON
This instrument was acknowledged before me on 2020
by 9 of RGC VENTURES, LLC, on behalf
of said limited liability company.
Notary Public, State of Texas
My Commission expires:
After recording, return to:
Sheets & Crossfield, P.C.
309 East Main Street
Round Rock, Texas 78664
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