Staff recommends City Council approve the development agreement with Propriedad, LLC for 1053 Lincoln Lane.

City Council approved the annexation of Certificate of Survey 537, Parcel F at the July 27, 2020 meeting.  The property is located at 1053 Lincoln Lane.  As a condition of annexation, the developer is required to enter into a development agreement with the City. 

The development agreement requires right of way dedication along Lincoln Lane and outlines the public improvements, including timing, to Lincoln Lane fronting the property.  Generally, water, sanitary sewer, and storm sewer mains are available in Lincoln Lane and the developer can connect to them after paying appropriate fees.  The street improvements will either be constructed fronting the property or included in a future special improvement district.  A waiver for all other improvements is included.  

City Council may:

• Approve the development agreement, or;
• Disapprove the development agreement.  If the agreement is not approved, the responsibility for infrastructure improvements would be in accordance with policies in place at the time of development.  If the property is not subdivided, the City would not be able to require a right of way dedication.

The financial impact to the City for not approving the development agreement is greater than if the City approves the development agreement.  If the agreement is not approved, the City would need to purchase the right of way and would possibly be responsible for some of the improvements depending on policies in place at the time of development.  By approving the agreement, the developer is responsible for cost of the infrastructure and dedicating the right of way.