DEPARTMENT: Planning and Community Development
DEPARTMENT HEAD: John Dugan
COUNCIL DISTRICTS IMPACTED: Council District 4
SUBJECT:
Third Amendment to the August 2006 Agreement with the Crosswinds at South Lake
SUMMARY:
This Ordinance authorizes the execution of the Third Amendment to the "Agreement to Extend Limited Purpose Annexation and to Fix the Date for Full Purpose Annexation" for the Crosswinds at South Lake Special Improvement District located in Council District 4.
This Amendment removes the requirement to dedicate a contiguous tract of 2.5 acres of suitable land for a municipal facility, and provide a phased payment schedule over the term of the agreement for payment in lieu of the donation of land. The original agreement required dedication of the 2.5 acres by August 17, 2008, and required that the property not be located in the 100-year floodplain, and could be located within the Crosswinds at South Lake PID, or within City South.
BACKGROUND INFORMATION:
On August 17, 2006, the City Council authorized an agreement with Presto Tierra, Ltd., Presto Commercial #2, LLC, and Crosswinds at South Lake, L.P.(the "Property Owners") to extend the limited purpose annexation status of the property known as Crosswinds at South Lake, located in City Council District 4, in Limited Purpose Area #1, comprised of approximately 532.59 acres at the southwest intersection of Highway 16 and Watson Road, in Bexar County (the "Property"), and fixed the full-purpose annexation date to on or about December 30, 2035. The original agreement required the developer to donate a contiguous tract of 2.5 acres of suitable land for a municipal facility.
On June 19, 2008, City Council extended the Property Owners' time of performance to donate 2.5 acres of real property until September 12, 2011. A second amendment approved by City Council on June 9, 2011, postponed the full purpose annexation of the Property to January 1, 2044, and extended...
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