Title
Approving a credit agreement with TM BTR of Texas LLC in the amount of $255,108.80 for the upsizing of a water line near the intersection of Kelly and Weiss Lane as part of the Yardly Weiss Kelly Lane Addition, and authorizing the City Manager to execute the same.
Summary
The proposed credit agreement is for a property located at the southwest corner of Kelly and Weiss Lane. The property has approved public improvement plans and is currently under construction. The site plan allows for approximately 175 low-density multi-family units, including quadplexes and single-family units in a condominium regime.
During the construction plan review, it was determined that an 8-inch water line was needed to adequately serve the development. The City requested the line be upsized to a 12-inch line to provide additional capacity for future growth and to provide resiliency to loop the City's water service area that serves the Hidden Lake service area as outlined in the City's approved Capital Improvement Plan with the Weiss/Kelly water line project. In addition, the City requested the abandonment of an existing 8-inch water line along the east side of Weiss Lane and the installation of a new 12-inch water line, as shown in the attached exhibit.
Under Section 152, Subchapter A (152.22) of the City’s Code of Ordinances for Water and Wastewater Impact Fees, the City is authorized to enter into credit agreements for financing facility expansions by applying credits to the impact fees due at the time of building permitting.
The development’s total water impact fees are $589,660. With the approval of this credit agreement, the amount due will be reduced to $344,551.20.
The Weiss/Kelly Water line project (WA2103) is budgeted in the FY 2026 CIP with a total budget of $2.85 million for the full project.
This item is supported by the Infrastructure pillar of the Strategic Plan.
Prior City Council Action
There has been no prior City Council action regarding the proposed ...
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