Title
A resolution authorizing the City Manager to finalize and execute an Amended and Restated Master Development Agreement between the City of Mesquite, Texas, the Board of Directors of Reinvestment Zone Number Thirteen, City of Mesquite, Texas (Spradley Farms), and Spradley Farms, LTD, regarding the development of approximately 652 acres of land generally located between FM 2757 and IH-20, and north of IH-20 east of FM 740 in Kaufman County, Texas, located within the corporate limits of the City of Mesquite, Texas, as a mixed use planned development consisting of residential and commercial components and other associated uses and being commonly referred to as "Spradley Farms"; authorizing the City Manager to take such actions and execute such documents as are necessary or advisable to consummate the transactions contemplated by the agreement and authorizing the City Manager to administer the agreement on behalf of the City.
(This item was postponed at the June 15, 2020, City Council meeting.)
Body
On November 4, 2019, the City entered into a Master Development Agreement with Spradley Farms, LTD and TIRZ Number Thirteen to develop a mixed-use residential and commercial development with 2,513 residential units on 652 acres of undeveloped land in Kaufman County known as Spradley Farms. Subsequently, on January 6, 2020, the City Council approved Resolution No. 01-2020 repealing the City's support to the Texas Commission on Environmental Quality (TCEQ) for the creation of a Municipal Management District (MMD) until such time that City staff and the Developer, The Nehemiah Company, could further refine certain financing elements and possibly reduce the total amount of TIRZ revenue used to finance such costs without diminishing the overall quality of the proposed development.
In response to the City's desire to further overall financing discussions, Spradley Farms, LTD filed suit on February 10, 2020, seeking injunctive relief to reverse the City's repeal of suppo...
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