Title
Approving a professional expense reimbursement agreement by and between the City of Pflugerville and Martin Tract Development and authorizing the City Manager to execute the agreement.
Summary
Tiemann Land and Cattle Development, Inc. is proposing to develop a project to be known as the Martin Tract, that is an approximately 40.774 acre site generally located on the south side of Cele Road just west of Melber Lane. The proposed project will be a residential neighborhood consisting of single family dwelling units and related amenities.
Approving this agreement will enable the City to perform the necessary due diligence to evaluate the developer's requested special purpose district economic development incentives subject to reimbursement of any professional fees incurred in doing so. The initial deposit will be from the developer will be $15,000.
Prior City Council Action
None
Deadline for City Council Action
Staff requests approval on June 23rd so that the project evaluation may continue on schedule.
Funding Expected: Revenue __ Expenditure __ N/A _X_
Budgeted Item: Yes __ No __ N/A _X_
Amount: n/a
1295 Form Required? Yes __ No _X_
Legal Review Required: N/A __ Required _X_ Date Completed: June 15, 2020
Supporting documents attached:
Agreement
Recommended Action
Approve the professional expense reimbursement agreement by and between the City of Pflugerville and Martin Tract Development and authorizing the City Manager to execute the agreement.