File #: 23-1724    Version: 1 Name:
Type: Ordinance Status: Passed
File created: 10/18/2023 In control: City Council
On agenda: 12/5/2023 Final action: 12/12/2023
Title: Ordinance authorizing an amendment to the Participation Agreement with MPM Development, L.P., originally executed on November 7, 2017, to extend the contract term to November 7, 2024, and to increase City Participation by $185,887.26 for a total not to exceed $393,274.11 for the construction of Oso Parkway for residential development, Royal Creek Estates Unit 7, located south of Yorktown Boulevard and east of Cimarron Boulevard; and amending the operating budget by transferring $185,887.26 from the Public Works (Street) Fund to the Development Services Fund.
Sponsors: Development Services
Attachments: 1. CC2-Agenda Memo - Fourth Amendment for Royal Creek Unit 7, 2. Ord - Amend Part Agree Royal Creek Estates Unit 7 - 11.21.pdf, 3. 4th Amendment Participation - Royal Creek Unit 7, 4. CC5-Presentation wo notes-Royal Creek Unit 7 Participation Amend, 5. CC7-Location Map - Royal Creek Estates Unit 7

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Ordinance authorizing an amendment to the Participation Agreement with MPM Development, L.P., originally executed on November 7, 2017, to extend the contract term to November 7, 2024, and to increase City Participation by $185,887.26 for a total not to exceed $393,274.11 for the construction of Oso Parkway for residential development, Royal Creek Estates Unit 7, located south of Yorktown Boulevard and east of Cimarron Boulevard; and amending the operating budget by transferring $185,887.26 from the Public Works (Street) Fund to the Development Services Fund.