Title
Review and Consideration of a Development Agreement with Ashton Holdings, Inc. Regarding the Development and Annexation of Approximately 158 Acres of Property Currently Located in the City's Extraterritorial Jurisdiction as Permitted under Section 212.172 of the Texas Local Government Code
Requested Action
Consider approval of the Agreement.
Recommendation
The Engineering, Planning and Legal Staff recommend the approval of the Developer Agreement.
Description/History
Ashton Holdings is in process of designing a subdivision wholly within the City's extraterritorial jurisdiction on approximately 158 acres. They have asked the City to provide water service to its future owners of the property.
Justification
At Council direction, staff has negotiated terms for the sale of water to the new development in exchange for voluntary annexation. The terms have previously been discussed with Council.
A Developer's Agreement is attached for Council's consideration.
Funding Source
None Required.
Prepared By
Steven Freeman, P.E.
Director of Public Works