Title
Discuss and consider approving a Preliminary Development Agreement (PDA) with Griffin Swinerton for the development of Downtown East, and authorizing the City Manager to execute the same.
Summary
The Downtown East project is located on +/-29 acres located at the northwest corner of Pecan Street and FM 685. Discussions for Downtown East have included aspirations to leverage the central Pflugerville location to become a mixed-use development with connections to Main Street and the City's hike and bike trail network anchored by the proposed new multi-generational recreation center and new city hall.
An Exclusive Negotiating Agreement (ENA) was approved on March 28th, which established the expectations of the development partnership and performance of preliminary development activities necessary to achieve the goals outlined by City Council for the Downtown East project. The ENA outlined the general roles, as well as the responsibilities, terms and obligations of both the City and the City's development partners Griffin Swinerton and Catellus. The ENA recognized the need for additional agreements, referred to as Predevelopment and Definitive Agreements, that come as the development progresses.
The project team has worked since the approval of the ENA to meet the requirements of the ENA. Since approval, the project has come into greater focus as placement of the city facilities has been chosen, high-level cost estimates have been produced, high-level studies have been completed and floodplain information has been gathered. Through the ENA process and the information gathered regarding changing conditions in the financial and real estate markets, staff is recommending that the project move forward into the next step of the process into the Preliminary Development Agreement (PDA) process as a two-phase project with Griffin Swinerton as the master development partner.
Within the PDA, Phase One will consist of all elements required for the delivery of ...
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