Agenda No. 10.
CITY COUNCIL MEMORANDUM
| City Council Meeting: | February 20, 2024 |
| Department: | Executive Team |
| Subject: | Resolution 24-R-10 - Authorizing a Subdivision Improvement Agreement and Roadway Impact Fee Credit Agreement with Embry. (S.Williams/B.James) |
BACKGROUND
Embry, the developer of the multi-family portion of the Schertz Station project, is seeking to be allowed to file the plat for Schertz Station Lots 11 and 13, Block 1 prior to acceptance of the public improvements. The developer is required to provide a surety as part of the agreement equal to 120% of the estimated cost of the improvements. Additionally, they are seeking to enter into a roadway impact fee credit agreement as allowed per the City's code of ordinances for constructing Ripps-Kreusler Boulevard, which is a roadway impact fee system road.
GOAL
Provide for the orderly development of infrastructure within the City of Schertz.
COMMUNITY BENEFIT
Provide for development of infrastructure in a timely, cost-effective manner.
SUMMARY OF RECOMMENDED ACTION
Authorize a Subdivision Improvement Agreement to allow filing of the plat prior to acceptance of public improvements and a Roadway Impact Fee Credit Agreement to provide offsets/credits for construction of impact fee eligible roadways with CV Schertz Tx BTR, LP (Embry) for the Schertz Station project.
FISCAL IMPACT
There is no cost to the City associated with the Subdivision Improvement Agreement. The value of the roadway impact fee offsets/credits is approximately $625,000 under the current impact fee system.
RECOMMENDATION
Approval of Resolution 24-R-10.