HomeMy WebLinkAboutOrdinances (O-04-1448)-03/02/2004
ORDINANCE 0-04-1448
AN ORDINANCE APPROVING THE DEVELOPER PARTICIPATION IN AN
AGREEMENT FOR PUBLIC IMPROVEMENTS BETWEEN REALTY CAPITAL
CORPORATION AND THE CITY OF COLLEYVILLE, TEXAS, FOR THE VIA
COLLEYVILLE DEVELOPMENT; AUTHORIZING PUBLICATION; AND PROVIDING
FOR AN EFFECTIVE DATE.
WHEREAS, the City of Colleyville and Realty Capital Corporation, hereby enter into a
City-Developer Agreement.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
Sec. 1.
THAT the Developer and the City shall participate in a City-
Developer Agreement for public improvements for Via Colleyville, as
per the attached Exhibit "A".
Sec. 2.
THAT the City Secretary is hereby authorized and directed to cause
publication of the descriptive caption and penalty clause hereof as an
alternative method of publication provided by law.
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Sec. 3.
THAT this ordinance shall become effective immediately upon
publication.
AND IT IS SO ORDERED.
The first reading and public hearing being conducted on the /7>'/] day of
l~ 2004.
The second reading and public hearing being conducted on the c::l.uJ!. day of
~;~ 2004.
ATTES~~~
~ Single:T,J;"
City Secretary
~tf};s TO FORM AND LEGALITY,
II ls~ Foster
I City Attorney
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City of Colleyville
City-Developer Agreement
for
Via Colleyville
That Realty Capital Gateway, Ltd., or assigns called "Developer" and the City of
Colleyville, Tarrant County, Texas hereinafter called "City", enter into the following
agreement.
In consideration of the mutual covenants herein contained and for Via Colleyville, the
("Development"), which is shown on the attached Exhibit "A" and which shall be an
addition to the City of Colleyville, Texas as filed of record in the Plat Records of Tarrant
County, Texas, the parties hereto agree:
1. The Developer will construct a 10 foot wide hike/bike trail along Precinct Line
Road as approved and in compliance with the City's standards.
2. Developer and City agree that the City will improve the eastern intersection of
McDonwell School Road and Precinct Line Road, the ("Improvements").
Developer and City agree that the Improvements will generally comply with the
design attached as (Exhibit "B"), subject to modifications based on future traffic
studies, traffic impact analysis and cost participation by the Keller Independent
School District. The City agrees to apply the Developer's McDonwell School
Road perimeter street fee towards the cost of the Improvements, The City
agrees to reasonably complete the construction of the Improvements within
twenty four months after the approval of the Development's final plat.
3. Each party understands that he has no authority to cancel or amend the terms of
this agreement without specific written authority of the other party.
4. If for any reason the ownership of the property should change prior to the
acceptance by the City of the Development's improvements, it is agreed that
these conditions will pass from Developer to the new owner and the City will
require proper signatures of the new developer agreeing to the terms of this
agreement.
Via CoUeyvWe
Oty-DeveJoper Acreement
CITY COUNCIL APPROVED
Via Colle,...me
Qty-Developer Acreement
Date:
vVI~ 1/ XXJ'i
Date: ~ el ~ ~(;/)l/
MAR 2 2004
EXHIBIT B
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