Title
Consider approving Resolution No. 2024-135 authorizing the execution of the third amendment to the amended and restated Master Development Agreement with CADG Mercer Crossing Holdings, LLC relating to the Mercer Crossing Development, and take appropriate action.
Body
REQUESTOR:
Mayor Pro Tem Omar Roman and Councilman David Reid
BACKGROUND:
Mercer Crossing Development, located on the west side of Farmers Branch, entered into a development agreement in 2017 for single-family housing, multi-family housing, and commercial sites. The agreement identified dedicating a park as part of the project.
DISCUSSION:
In late 2023, the developer, Centurion American, began work on Mercer Park. Parks and Recreation Department staff has worked with the developer to complete all the park items required by the agreement. At the August 20, 2024, Council Meeting, the City Council discussed the progress of the park development and the challenges with completing some of the remaining items in the agreement. The remaining items include the installation of 67 trees and an art piece called the "Mourning Dove." Due to how the current agreement is stated, the installation of the trees did not include irrigation. The developer indicated to staff that the "Mourning Dove" art piece would have to be procured following the conveyance of the park property to the City. Therefore, an amendment to the current development agreement is needed to complete the remaining items in a more conducive timeframe. This amendment will allow the City to plant the trees with the irrigation installation and have the art piece installed within 180 days of the date of the agreement. Upon completion of the park improvements, the amendment will allow conveyance of the park property to the City, permits to be issued to the builder, and all improvements will have to be completed before any certificate of occupancy for the townhouses next to the park.
Staff and the developer will be present to answer any quest...
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