DEPARTMENT: Transportation & Capital Improvements
DEPARTMENT HEAD: Mike Frisbie
COUNCIL DISTRICTS IMPACTED: 9
SUBJECT: Disposition: ROW Closures (unimproved portions of Link Drive and Anchor Drive established by Lockhill Estates No. 2 plat)
SUMMARY:
Consideration of a Resolution supporting the closure, vacation and abandonment of a 0.715 acre of an unimproved portion of Link Drive and Anchor Drive established by subdivision plat of Lockhill Estates No. 2 in Council District 9, as requested by Meritage Homes of Texas, LLC.
BACKGROUND INFORMATION:
Lockhill Estates No. 2 was platted in 1950, but never constructed. LDK Realty began assembling most of the parcels located within the Lockhill Estates No. 2 subdivision in 2013. The City closed, vacated and abandoned portions of Link Drive, Lima Drive and Anchor Drive in 2014. Meritage Homes of Texas, LLC acquired the property from LDK Realty in 2014 and is the homebuilder for this subdivision. Meritage Homes began the platting and zoning process. The Preserve at Castle Hills will be a gated community consisting of 82 single family homes. Phase I is near completion.
Meritage Homes of Texas, LLC (home builder) acquired the remaining properties within the Lockhill Estates (1950) subdivision and has obtained all necessary signatures to request the closure of the remaining right-of-ways. Once authorized, Meritage Homes will complete the construction of The Preserve at Castle Hills.
Meritage Homes requests the City close, vacate and abandon its interest in a 0.715 acre of an unimproved portion of Link Drive and Anchor Drive as indicated on the attached maps, plat and field notes.
ISSUE:
Consideration of a Resolution supporting the closure, vacation and abandonment of a 0.715 acre of an unimproved portion of Link Drive and Anchor Drive established by subdivision plat of Lockhill Estates No. 2 in Council District 9, as requested by Meritage Homes of Texas, LLC, for a fee of $15,637.00. The unimproved right-of-ways will not be constructed as shown within the Lockhill Estates No. 2 plat.
Meritage Homes of Texas, LLC has assembled and reconfigured the properties within Lockhill Estates No. 2 plat so it can re-plat the subdivision as The Preserve at Castle Hills. It is necessary for the City to close, vacate and abandon its interest in the right-of-ways, as they exist in the Lockhill Estates No. 2 plat, so Meritage Homes can establish the re-plat of the property.
ALTERNATIVES:
The Planning Commission could choose not to support the closure, vacation and abandonment of these unimproved right-of-ways, however the City would remain responsible for the right-of-ways. Meritage Homes would not be able to develop the properties as intended and the properties would not be placed on the tax rolls.
FISCAL IMPACT:
The property was appraised for a total of $31,150.00 by Sandison Appraisal, LLC on April 15, 2014. The property is within the Inner City Revitalization Infill Policy Area and qualifies for a 25% fee waiver based on the proposed level of investment of $15,000,000.00. In addition, staff recommends an additional 25% waiver as a contribution to the construction of Silver Oaks public right-of-way. In total, staff recommends a 50% fee waiver ($15,575.00). The recording fees of $62.00 will be covered by Meritage Homes, LLC. The total cost for the closures is $15,637.00 which will be deposited into the General Fund in accordance with the FY 2015 Adopted Budget.
RECOMMENDATION:
Staff recommends approval of this request to close, vacate and abandon an unimproved portion of Link Drive and Anchor Drive within the Lockhill Estates No. 2 plat in Council District 9, as requested by Meritage Homes, LLC.