DEPARTMENT: Planning and Community Development
DEPARTMENT HEAD: Bridgett White, Director
COUNCIL DISTRICTS IMPACTED: 4
SUBJECT:
Fourth Amendment and restated agreement to extend Limited Purpose Annexation and to extend the date for Full Purpose Annexation and terminating the associated Development Agreement approved by City Council on January 5, 2006.
SUMMARY:
An Ordinance authorizing an agreement regarding the fourth Amendment and restated agreement to extend Limited Purpose Annexation and to extend the date for Full Purpose Annexation to February 2, 2047 between Presto Tierra, LLC, PDC Preserve at the Medina River LTD., CST Stations Texas, LLC and the City of San Antonio for approximately 534.22 acres of land generally located at the southwest corner of State Highway 16 and Watson Road, known as South Lake and terminating the associated Development Agreement approved by City Council on January 5, 2006.
BACKGROUND INFORMATION:
On January 5, 2006, the City Council approved Ordinance No. 2006-01-05-3, which authorized the execution of a development agreement with Fermin Rajunov of Presto Tierra, Ltd., Crosswinds at South Lake, L.P., and Presto Commercial #2, LLC, and provided for the development of South Lake on the Property, and provided the City the ability to extend and enforce land use and development regulations, provided for infrastructure, authorized enforcement of environmental regulations, and considered the terms for future annexation (the "Development Agreement"). The Parties have subsequently entered into three previous amendments that extended Limited Purpose Annexation and also extended the date of Full Purpose Annexation. This 534 acre property in District 4 has a development agreement in association with the extension of Limited Purpose Annexation to January 1, 2044. The original agreement was amended in 2008, 2011, and 2013 by City Council.
The Parties now wish to further amend and restate the terms and conditions of...
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