Title
Approving a resolution with the caption reading: A Resolution of the City of Pflugerville, Texas authorizing the City Manager to execute Utility Conveyance and Security Agreements for Sorento Phases 4-10.
Summary
In accordance with Article VI Section A of the Development Agreement, effective October 25, 2005, between the City of Pflugerville (City) and 130 Cactus Investment, LP, a Texas Limited partnership (Landowner) and Tejas Viejo Land Company, a Texas Corporation (Development Partner), upon completion of the MUD water and wastewater facilities in the Sorento subdivision phases, the utilities and related contract rights shall be conveyed to the City for ownership, operation and maintenance of the facilities.
The public utilities in Sorento Phases 4, 5, 6, 7, 8, 9, and 10 have been constructed and are ready to be conveyed to the City for ownership, operation, and maintenance. Utility Conveyance and Security Agreements for this action have been provided for these phases on forms that are in accordance with the Development Agreement and have been reviewed and approved by Legal.
Approving this Resolution authorizes the City Manager to execute the Utility Conveyance Agreements and subsequently record them with Travis County.
Prior City Council Action
None.
Deadline for City Council Action
None.
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: _4/19/2021______
Supporting documents attached:
Resolution Document, Conveyance Exhibit
Recommended Action
Staff recommends approval of this Resolution as requested.