Title
Approving a professional expense reimbursement agreement by and between the City of Pflugerville and Lakeside Meadows Development and authorizing the City Manager to execute the agreement.
Summary
Kerby Ventures, LLC is proposing to develop a project to be known as Lakeside Meadows, that is an approximately 400 acre site generally located between Pflugerville Parkway to the north, Pecan Street to the south and just west of Weiss Lane and just east of SH130. The proposed development consists of a mix of land uses from residential to commercial and employment. The applicant is working through the creation of a Planned Unit Development (PUD) which will be considered by City Council in the first part of 2020.
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 $25,000.
Prior City Council Action
None
Deadline for City Council Action
Staff requests approval on November 12th 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: November 7, 2019
Supporting documents attached:
Agreement
Recommended Action
Approve the professional expense reimbursement agreement by and between the City of Pflugerville and Lakeside Meadows Development and authorizing the City Manager to execute the agreement.