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HomeMy WebLinkAboutRes 2022-07-1215 Development Agreement with Innovative Investments Inc. (Salida Del Sol) RECORDEDCITY OF ANNA, TEXAS RESOLUTION NO. A QdQ -- 0 7-" /a It A RESOLUTION OF THE CITY OF ANNA, TEXAS APPROVING A DEVELOPMENT AGREEMENT WITH INNOVATIVE INVESTMENTS INC., RELATING TO DEVELOPMENT AND DESIGN REGULATIONS FOR A TOWNHOME DEVELOPMENT GENERALLY LOCATED ON THE WEST SIDE OF N. RIGGINS STREET, 671± FEET NORTH OF ANTHONY STREET. WHEREAS, Innovative Investments Inc. is the Property Owner of real estate generally located on the west side of N. Riggins Street, 671± feet north of Anthony Street; and WHEREAS, Property Owners desire to amend the zoning for the subject property to allow a townhome development; and WHEREAS, Property Owner has agreed to development and design regulations should the City approve rezoning the property. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ANNA, TEXAS THAT: Section 1. Recitals Incorporated. The recitals above are incorporated herein as if set forth in full for all purposes. Section 2. Approval The City Council hereby approves the Development Agreement with Innovative Investment Inc. attached hereto as Exhibit A and ratifies and approves the City Manager's execution of the same. The City Manager is hereby authorized to execute all documents and take all other actions necessary to finalize, act under and enforce the Agreement. PASSED by the City Council of the City of Anna, Texas, on this 26th day of July 2022. ATTESTED: Carrie L. Land, City Secretary to Pilo, Mayor jr `\ ����l11111111111111\ EXHIBIT A DEVELOPMENT AGREEMENT This Development Agreement (this "Agreement") is entered effective as of July 26, 2022 ("Effective Date") between and among the City of Anna, Texas, a Texas home -rule municipality ("City") and Innovative Investments Inc. ("Owner") as follows: RECITALS WHEREAS, the Property, as depicted on Exhibit 1 (the "Prod including without limitation the City's zoning regulations, and WHEREAS, the current zoning classification of the Propf District (SF-1) (the "Original Zoning Classification"); and, WHEREAS, the Owner has applied to rezone the Proper SF-TH Townhome District (PD-SF-TH) to allow for town development standards. (the "Zoning Change"); WHEREAS, the City's Planning & Zoning Comm notices by publication and otherwise and have rezoning of the Property as required by law, and, WHEREAS, in the event that the development agreement: multiple -family residence properties; and, WHEREAS, it is the Partii specifically set forth herei City Regulations directly mutual i NOW, THEREFORE, in consi ed, to City Regulations, le -Family Residential to allow for Planned: me units on one lot opment- modified ave given the requisite gs with respect to the City and Owner desire to enter into a sign regulations to ensure that future �e area and fits in well with adjacent reement shall govern only the subject matter shall supersede City Regulations only to the extent that any such t with the_terms of this development agreement; and, of the above recitals and the mutual consideration as reflected in the covenants, duties and obligations contained herein, the sufficiency of which is hereby acknowledged, the Parties hereto agree as follows, effective as of the Effective Date: 1�Page SECTION I RECITALS INCORPORATED The recitals set CA are incorporated herein as if set forth in full to further describe the Parties' intent under this development agreement and said recitals constitute representations by Owner and the City. SECTION 2. DEVELOPMENT STANDARDS /BUILDING MATERIALS. A. Development and use of the Property, including, without limitation, the construction, installation, maintenance, repair, and replacement of all buildings and all other improvements and facilities of any kind whatsoever on and within the Property, shall be in compliance with City Regulations unless expressly stated to the contrary in this Agreement. City Regulations shall apply to the development and use of the Property unless expressly set forth to the contrary in this Agreement. It is expressly understood and the Parties agree that City Regulations applicable to the Property and its use and development include but are not limited to City Code provisions, ordinances, design standards, uniform codes, zoning regulations not affected by this Agreement, and other policies duly adopted by the City including without limitation any such regulations or requirements that were affected by the passage of Texas H.B. 2439, 86(R) codified as Chapter 3000 of the Texas Government Code ("Materials and Methods Regulations"), which are collectively incorporated herein as if set forth in full for all purposes; provided, however, to the extent of any conflict between the requirements of Materials and Methods Regulations and the requirements of this Agreement, this Agreement shall control. For purposes of this Agreement, "City Regulations" mean the City's applicable development regulations in effect on the Effective Date, including without 'limitation City Code provisions, ordinances (including, without limitation, all development fees), design standards, and other policies duly adopted by the City; provided, however, that as it relates to public infrastructure for any given phase of the Project, the applicable construction standards (including, without limitation, uniform building codes) shall be those that the City has duly adopted at the time of the filing of an application for a preliminary plat for that ;phase unless construction has not commenced within two years of approval of such preliminary plat in which case the construction standards shall be those that the City ;has duly adopted at the time that construction commences. B. With respect to all structures/development within the PD-SF-TH Zoning District, Owner agrees to comply and/or to cause all other persons or entities to comply and any other successors or assigns to comply with all City Regulations and with the masonry material requirements and all other requirements of the Anna City Code of Ordinances, Article 9.04 Zoning Ordinance, Section 9.04.034 Supplementary District Regulations, Subsection (e) Architectural Design Standards, which are incorporated herein as if set forth in full for all purposes, and with the following standards (in the event of any conflict, the following listed standards shall govern). Notwithstanding the foregoing, a Subsequent Owner upon a Closing (as hereinafter defined) must agree in writing to assume Owner's responsibilities set forth herein. For purposes of this Agreement the term "Subsequent Owner" means any 2�Page person or entity that acquires all or any part of the Property from Owner or Owner's successor in title to the Property or any part thereof. Townhome Unit Building A. The exterior walls (excluding windows and doors) on the first -floor front elevation, shall have a 36" faux stone wainscot along the bottom and batt on board on the remaining first floor elevation. The second and third floor front elevations shall consist of Hardie Plank Lap Siding and batt on board. The dormers shall have craftsman shaker style siding. B. Roofs: i. Pitched roofs shall have an overhang at least 1' (one foot) beyond the building wall; however, the overhang shall not encroach into a setback more than one foot. lit Roofing materials in all residential districts may only consist of architectural asphalt shingles (including laminated dimensional `shingles), clay and concrete tile, metal shingles, mineral -surfaced row roofing, slate and slate -type shingles, or better product as compared with said materials. Should architectural shingles be used as roofing material, said shingles shall be accompanied with a minimum 25-year warranty. Under no circumstance shall three -tab shingles be used as roofing material. C. Fenestration: ii SECTION 3. Windows shal The use of will be de#ir Any and all notices requ,r be deemed delivered upo mail, certified, return rece To City: To Property Owner: 3�Page harmony with a the rest of the structure. ive glass on residential structures is prohibited. Reflective glass having a visible light reflectance rating of 15% or greater. d to be given; by either of the parties hereto must be in writing and will personal service, if hand -delivered, or when mailed in the United States �t requested, addressed as follows: tanager City of Anna orth Powell Parkway PO Box 776 Texas 75409 Innovative Investments Inc. 140 W. Waters Edge Way Oak Point, TX 75068 Attn: Charles R. Bridges SECTION 4. DEADLINES, MODIFICATIONS OR TERMINATION. A. This Agreement may only be modified and/or terminated as follows: (a) by mutual written agreement of the City and Owner or, after a Closing (as hereinafter defined), by a Subsequent Owner instead of Owner; and/or (b) unilaterally by City upon default of the Owner or Subsequent Owner. Notwithstanding the foregoing or any other provision of this Agreement, this Agreement shall terminate and be null and void if the City does not approve the Zoning Change on or before the 26th day of July 2022. The parties acknowledge and agree that the rezoning of the Property is a legislative act and that this Agreement does not bind the City Council to approve any proposed rezoning of the Property. B. Owner or any Subsequent Owner shall be obligated under this Agreement to timely meet the following deadlines: 1. Within 120 days after City Council approval of the Zoning Change, Owner will have submitted a preliminary plat and tree preservation plan for the Property. 2. Within 180 days after the City has approved the preliminary plat, Owner shall have submitted a site plan, landscaping plan, final plat (showing any/all easements required for the townhome development), and civil plans. 3. A preconstruction meeting between Owner and City staff shall occur within 90 days of final approval of the civil plans. 4. Site construction pursuant to final approved civil plans must commence within 120 days after the preconstruction meeting. 5. Owner must submit plans and specifications for the buildings and other improvements not part of the civil plans (the "Building Plans") no later than 180 days after civil plans are approved by the City. After the last to occur of (a) approval of the Building Plans by the City of Anna, (b) completion of all construction pursuant to civil plans, (c) acceptance of all civil construction and public improvements by the 'City of Anna, and (d) recordation of the townhome development final replat, Owner must submit an application for a building permit within 60 days thereafter (including without limitation the payment of all fees due to the City as required to develop the Property). 6. Recordation in the Official Records of Collin County, Texas of the townhome development final plat must occur within 90 days of commencement of site construction. 4�Page 7. Vertical construction pursuant to the Building Plans for approved structures must commence within 120 days after the later to occur of the recordation of the townhome final plat and obtaining a building permit. C. Not by way of limitation as to other material terms and conditions, the deadlines stated above are material terms and conditions of this Agreement and any failure to meet any of the deadlines above (each, a "Deadline Default") is a material default under this Agreement. In addition to all other remedies that the City may enforce under this Agreement or that is available to the City at law or in equity in the event of a Deadline Default, the City may in its sole discretion initiate and pursue a zoning case to change the zoning classification back to the Original Zoning Classification. In the event that the City initiates such a zoning case after a Deadline Default, the Owner shall not oppose the zoning case and shall be deemed to have fully and irrevocably released and waived any claim, cause of action, litigation or other challenge or proceeding to such zoning case on any legal basis or theory whatsoever. SECTION 5. DEFAULT. If Owner, its heirs, successors or assigns or ar thereof fails to comply with any of the material (such defaulting owner referenced herein as "D non-exclusive and cumulative remedies. absequent Owner of the Property or any part is and conditions included in this Agreement Icing Owner"), the City will have the following A. Withholding of utilities `or withholding or revocation of permits and other approvals required for development and use of the portion'of the Property that is the subject of the default (but no other portions of the Property) including without limitation building permits and certificates of occupancy. 1K The Defaulting Owner shall be liable to pay to the City the sum of $10.00 for each failure to materially comply with the development standards set forth of this Agreement. The Defaulting Owner shall be liable to pay the City said $10.00 sum per day for each day that such failure to comply occurs. The sums of money to be paid for such failure(s) is not to be considered as a penalty, but shall be deemed, taken and treated as reasonable liquidated damages that accrue per day that such a failure shall exist or occur. The said amounts are fixed and agreed upon by the parties because of the impracticability and extreme difficulty of fixing and ascertaining the actual damages the City in such event would sustain; and said amounts are agreed to be the amounts of damages which the City would sustain. In the event of a breach that is not timely cured as set forth below, the sum of liquidated damages shall be calculated to include each and every day of the occurrence of the breach beginning on the date that the City first provided written notice 4r�� of such breach under this paragraph and the City shall not be required to provide any subsequent written notices as to subsequent dates or times during which such breach is repeated or continues to occur C. The non -defaulting party will additionally have any and all remedies available to it at equity or in law. Notwithstanding the foregoing, a Defaulting Owner shall not be liable for the remedies under this section unless there is a breach of any material term or condition of this Agreement and such breach remains uncured after forty-five (45) calendar days following receipt of written notice from the City provided in accordance with this Agreement describing said breach in reasonable detail (or, if the cure of the breach has diligently and continuously ;been undertaken but reasonably requires more than forty-five (45) calendar days to cure, then such additional amount of time as is reasonably necessary to effect the cure, as determined by both Parties mutually and in good faith but in no event shall such additional period exceed 120 days unless agreed to in writing by the parties to this Agreement). SECTION 6. BINDING ON SUCCESSORS; AGREEMENT RUNS'WITH THE LAND. This Agreement will be binding successors, assigns and personal binding on all subsequent owners construed liberally to ensure the regardless of any change of owner to the contrary in this Section 6 or Owner (the "Transferor") conveys, part thereof (the "transferred Prope Transferor's obligations under thi? Transferor shall be automatically ro upon and inure to he benefit of the parties' respective representatives. This Agreement runs with the land and is )f the Property or any portions thereof. This section shall be the transferred Property subseauent SECTION 7. INDEMNIFICA' ' LD HARMLESS. CLOSING (THE "INDEMNIFYING PARTY"), HEREBY COVENANTS AND AGREES TO RELEASE DEFEND HOLD HARMLESS AND INDEMNIFY THE CITY AND ITS OFFICIALS OFFICERS AGENTS SERVANTS AND EMPLOYEES FROM AND AGAINST ALL THIRD - PARTY CLAIMS SUITS JUDGMENTS DAMAGES AND DEMANDS AGAINST THE CITY WHETHER REAL OR ASSERTED INCLUDING WITHOUT LIMITATION REASONABLE ATTORNEY'S FEES RELATED EXPENSES EXPERT WITNESS FEES CONSULTANT 6�Page FEES, AND OTHER COSTS (TOGETHER, "CLAIMS"1, ARISING OUT OF THE NEGLIGENCE OR OTHER WRONGFUL CONDUCT OF THE INDEMNIFYING PARTY INCLUDING WITHOUT LIMITATION THE NEGLIGENCE OR OTHER WRONGFUL CONDUCT OF ANY OF ITS EMPLOYEES CONTRACTORS SUBCONTRACTORS MATERIAL MEN AND AGENTS IN CONNECTION WITH THE DESIGN OR CONSTRUCTION OF ANY PUBLIC INFRASTRUCTURE STRUCTURES OR OTHER FACILITIES OR IMPROVEMENTS THAT ARE REQUIRED OR PERMITTED UNDER THIS AGREEMENT AND/OR CITY REGULATIONS AND/OR ANY APPLICABLE DEVELOPMENT STANDARDS AND/OR ANY Ir•ic7 PROPERTY. At no time shall the City or installation of any of the improver the means, methods, techniques, se, or installation related to same. This between the City and any of the Indo of this Agreement. SECTION 8. RECORDATIOK1. h� r or charge of the design, construction Property or related work or undertakings, nor rocedures utilized for the design, construction ment does not create a joint enterprise or venture d Parties. This section shall survive the termination This document, including all Exhibits, shall be recorded in the Official Records of Collin County, Texas. SECTION 9. ENTIRE AGREEMENT. This Agreement is the entire agreement of the parties regarding the subject matter hereto. SECTION 10. RECITALS AND EXHIBITS. The recitals herein and exhibits attached hereto are hereby incorporated by reference. SECTION 11. AUTHORITY. Owner represents and warrants to the City that the Owner owns the Property and that this Agreement is binding and enforceable on the Property. Owner may sell the Property or a part thereof to a person or entity (the "Closing") prior to commencement of site construction on the property sold, and in such event the Subsequent Owner shall be required to acknowledge and assume all obligations, liabilities and indemnifications under this Agreement. SECTION 12. INVALID PROVISIONS. If any provision of this Agreement is held not valid, sup there from and the invalidity thereof will not affect any SECTION 13. ESTOPPEL. On or before 45 days after rece desires to transfer its interest in tt of trust against the Property or a or prospective mortgagee, the Cii to the best of the City's knowlec under this Agreem any amendments SECTION 14. FORCE MAJEURE. will be deemed to be excised provisions contained herein. �f a written request from. an owner of the Property that -operty or borrow money secured by a mortgage or deed spective transferee of an owner's interest or an existing II execute and deliver an estoppel certificate stating that, (i) the transferringor borrowing owner is not in default reement is in full force and effect and whether there are Whenever a period of time is;prescribed in this Agreement for a Party (the "Acting Party") to take an action (other than a payment obligation), the Acting Party will not be liable or responsible for, and there will be excluded from the computation of any such time period, the period of time (the "Force Maieure Period") of delays caused by strikes, riots, acts of God, pandemic, enemy action, shortages of labor or materials, war, acts of terrorism, flood, fire, explosion, unavoidable casualty, or any other causes that are beyond the reasonable control of the Acting Party or any of its employees, agents, or contractors, but not any economic hardship, changes in market conditions, and insufficiency of funds ("Force Majeure"). However, a date will only be extended by a Force Majeure Period if the Acting Party gives notice to the other Party of the occurrence or commencement of the event that constitutes Force Majeure within ten days after the Acting Party knows of the existence or commencement of such event, and claims (in such notice) that such event constitutes Force Majeure. A Party that has claimed the right to temporarily suspend its 8�Page performance under this section shall provide written reports to the other Party at least once every week detailing: (i) the extent to which the force majeure event or circumstance continue to prevent the Party's performance; (ii) all of the measures being employed to regain the ability to perform; and (iii) the projected date upon which the Party will be able to resume performance, which projected date the Parties agree and acknowledge is only an estimate and not a binding commitment by the Party claiming force majeure. SECTION 15. EFFECTIVE DATE. This Agreement will be effective upon the Effective Date first stated :herein. [signature page follows] 9�Page CITY OF ANNA By: Jim Proce, City Manager IN WITNESS WHEREOF: STATE OF TEXAS COUNTY OF COLLIN Before me, the undersigned notary public, on the day of., Notary Public, State of Texas Innovative Investments Inc. 140 W. Waters Edge Way Oak Point, TX 75068 By: Charles R. Bridges 2022 IN WITNESS WHEREOF< STATE OF TEXAS C011NTY OF DALLAS Before me, the undersigned notary public, on the day ofi , 2022, appeared known to me (or proved to me) to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he/she executed the same in his/her capacity as property owner Notary Public, State of Texas 10�Page EXHIBIT " I CONCEPT PLAN fruiv'umrH � Axx>,cxw lldxay.v C LL Y ;Od O A J ti Q "s�gF z� W w �Sa�? m NAM; y3 13 f3 U � i ' O S7YJV 2r•L'I[LIYY['1133H4 '.ldAY74 N061YYdlAAL11 rffav sxv uaLxL'Alvvlx>If �vti zxva flYOxIIW OfLYV L '.I,NYd l73NOd'NO[01 ` ` OL 37091 lUYONddtl8AYM3AOIQ RL3YJXOJM3N QbYSilvis '���� '1S AYOFllNV ��— OL370IL—+ 1133%1517YNdSY) MON 44 ss sNILJ`JRI ON taovdrroad s>'cou le � � T L_J L_J L_J i •L_'J L_J L_ m gg c I QOII A. m id padp ddo G �. m ma �-'O Og� 5� y �� b $ IilfUVY4rYi50)1'fl 9� aKK=� �3 9 ItoIY Y]olfl �xO15ti IDINSIISNOOx ilIAW 70,YZ— R 3.Zl,fgpY ZO I n I z tl_ 9E a� Oil w d n3 ti x E• ,rn u ga 7 $ a E F C� E ? � € L E M o1�a€3 it la . 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