Title
Approving a professional expense reimbursement agreement by and between the City of Pflugerville and New Sweden Development and authorizing the City Manager to execute the agreement.
Summary
Lennar Homes of Texas Land and Construction, Ltd. is proposing to develop a project to be known as the New Sweden Development, that is an approximately 345 acre site generally located on FM973, just north of New Sweden Church Road. The proposed project will be a primarily 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 $25,000.
Prior City Council Action
None
Deadline for City Council Action
Staff requests approval on April 13th, 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: April 7, 2021
Supporting documents attached:
Reimbursement Agreement
Recommended Action
Approve the professional expense reimbursement agreement by and between the City of Pflugerville and New Sweden Development and authorizing the City Manager to execute the agreement.