HomeMy WebLinkAboutRes 2025-07-1792 Amendment to a Hotel Development Agreement with North Texas Hoco, LLC.RESOLUTION NO. Oo.25-o7- I'14.2
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANNA, TEXAS APPROVING
AN AMENDMENT TO A HOTEL DEVELOPMENT AGREEMENT WITH NORTH TEXAS
HOCO,LLC
WHEREAS, North Texas HOCO, LLC ("Owner") is the current owner of a certain tract of
real property in the City of Anna, Texas located on U.S. Highway 75 near the Anna Surgery Center that
is suitable for a hotel development (the "Property"); and
WHEREAS, as detailed in Resolution No. 2023-02-1366 of the City of Anna, Texas, (the "City")
the City and Owner entered into that certain Hotel Development Agreement with an Effective Date of
February 15, 2023 (the "Agreement") concerning the development, construction and operation of a hotel
to be located on U.S. Highway 75 near the Anna Surgery Center on the Property; and
WHEREAS, Owner and the City desire to amend the Agreement to extend the time period
for completion of construction and issuance of a certificate of occupancy; and
WHEREAS, the City desires to authorize the Mayor of the City of Anna, Texas to execute the First
Amendment to Hotel Development Agreement, said amendment being attached hereto as Exhibit 1; and
NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ANNA, TEXAS:
SECTION 1. Findings. The findings set forth above are incorporated herein for all purposes as if
set forth in full.
SECTION 2. Approval of Project and Agreement. The City Council of the City of Anna,
Texas hereby approves the Amendment, incorporated herein for all purposes, and authorizes the Mayor
to execute the same on its behalf, subject to approval as to form by legal counsel for the City, said
Amendment to be effective upon its passage and as set forth in said Agreement.
SECTION 3. Administration. The City hereby authorizes the City Manager or his designee to
administer the Agreement and the Amendment.
PASSED, APPROVED AND ADOPTED by the City Council of the City of Anna, Texas, on this the
81" day of July 2025.
Pete Cam, Mayor
ATTEST:
Carrie L. Land, City Secretary
Page 1
FIRST AMENDMENT TO HOTEL DEVELOPMENT AGREEMENT
This First Amendment to Hotel Development Agreement (this "Amendment") is entered into
between the City of Anna, a Texas home -rule municipality (the "City") and North Texas HOCO,
LLC, a Texas limited liability company (the "Owner").
WHEREAS, as detailed in Resolution No. 2023-02-1366 of the City of Anna, Texas, the City
and Owner entered into that certain Hotel Development Agreement with an
Effective Date of February 15, 2023 (the "Agreement") concerning the
development, construction and operation of a hotel to be located on U.S. Highway
75 near the Anna Surgery Center on the Property; and
WHEREAS, capitalized terms in this Amendment have the meanings as defined in the
Agreement unless the context clearly indicates otherwise; and
WHEREAS, the Parties to this Amendment desire to amend the Agreement to extend the time
period allowed to complete the construction of the Hotel and related Property
improvements and for the issuance of a Certificate of Occupancy; and
WHEREAS, the Agreement is amended only to the extent set forth in this Amendment and shall
otherwise be in full force and effect;
NOW, THEREFORE, for and in consideration of the mutual promises hereinafter expressed, and
other good and valuable consideration, the sufficiency of which is hereby acknowledged by the
Parties, the Parties agree as follows:
Section 1 Recitals. The recitals set forth above are incorporated herein as if set forth in full
for all purposes.
Section 2 Amendment to Section3(b). The following amendments are made to Section 3(b)
of the Agreement:
"(b) Construction and Commencement Schedule. Owner must successfully apply for a
building permit and commence construction on the Property by October 31, 2023.
Completion of construction of the Hotel and related Property improvements and
issuance of a Certificate of Occupancy must occur by December 31, 2025. The
City Manager, at his or her discretion, may agree in writing to extend any of these
time periods, but the sum total of all extensions granted by the City Manager may
not exceed six months. Failure to adhere to this schedule and any extensions
granted by the City Manager shall allow the City at its option to terminate this
Agreement upon written notice to Owner, in which case the Owner: (1) shall be
obligated to pay all impact fees that would be due to the City in the absence of this
Agreement; and (2) shall not be entitled to receive the Delegated Amounts."
Section 3 Counterparts. This Amendment may be executed in or more counterparts, each
of which shall be deemed an original and the binding agreement of each Party to
the terms herein, but all of which together will constitute one and the same
instrument.
FIRST AMENDMENT TO HOTEL DEVELOPMENT AGREEMENT Page I
EXECUTED as of the date(s) set forth below.
NORTH TEXAS HOCO, LLC,
a Texas limited liability company
By: Date:
Andrew Bossen, M.D., its Manager
STATE OF TEXAS
COUNTY OF GRAYSON
This instrument was acknowledged before me on the day of J�Aq 2025, by
Andrew Bossen, M.D., in his capacity as manager of North Texas HOCO, LL , a Texas limited
liability company, on behalf of said limited liability Company.
^,� +y� SHELLY .--ANN DEATON '
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'g; Nctsry iD ;t 32a25730 - o ary Public/ t e of Texas
My Commission Expires
April 3, 2028
FIRST AMENDMENT TO HOTEL DEVELOPMENT AGREEMENT Page 2
CITY OF ANNA, TEXAS
By:
Pete Cain, Mayor
ATTEST:
Carrie L. Land,
City Secretary
STATE OF TEXAS
COUNTY OF COLLIN
This instrument was acknowledged before me on thaa(A day of WtLA— 2025, by
Pete Cain, Mayor of the City of Anna, a Texas home -rule municipality on behaly of said home -
rule municipality. 4_10;W *31
Notary Public, State of as
NATASHALEIGH ROACH
My Notary ID # 132779769
Expires November 12, 2028
t'IRST AMENDMENT TO HOTEL DEVELOPMENT AGREEMENT Page 3