Title
A resolution authorizing the City Manager to finalize and execute a development agreement with BDMR Development, LLC, and Polo Ridge Fresh Water Supply District of Kaufman County regarding approximately 822.1 acres of land generally located south of FM 740, west of FM 2757, and north of Kelly Road in Kaufman County, Texas, located within the extraterritorial jurisdiction of the City of Mesquite and being commonly referred to as "Polo Ridge" and authorizing the City Manager to administer the agreement on behalf of the City.
(This item was postponed at the November 6, 2017, and November 20, 2017, City Council meetings.)
Body
At the October 16, 2017, City Council meeting, Council directed the City Manager to finalize negotiations with BDMR Development, LLC, for a development agreement relating to the proposed Polo Ridge development that is currently within the City's extraterritorial jurisdiction. The development consists of 1,012 single family lots to be built over six phases. The lots will be distributed as follows:
Lot Type # of Units
1-acre 91
125 feet wide 55
100 feet wide 142
80 feet wide 336
60 feet wide 388
The developer has requested annexation into the city as part of the agreement on the condition the City establish a Tax Increment Reinvestment Zone (TIRZ) and a Public Improvement District (PID) in order to fund infrastructure needed for the development. Staff's analysis of the proposed TIRZ finds that the revenue obtained from the development will be sufficient to cover increased costs of public safety for the area and will supplement the assessment paid by property owners within the PID.
The agreement also identifies development standards that would be unique to this subdivision and calls for variances to the City's drainage ordinance. The developer will pay all development fees.
Recommended/Desired Action
Staff recommends approval of the resolution.
Attachment(s)
Resolution
Concept Plan - 9/2017
Drafter
Cliff Keheley
Head of De...
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