18-2168S:\Lega Our pocuments\0 dEnances\i8\Evers and Beall Way Agreement Ordlnance.doac
ORDINANCE N0. 18-2168
AN ORDINANCE AUTHORIZING A DEVELOPMENT AGREEMENT BETWEEN THE
CITY OF DENTON AND MARKER STONE REALTY PARTNERS I, LLC AND MARKER
STONE REALTY PARTNERS II, LLC; PROVIDING FOR ACQUISITION OF NECESSARY
PROPERTY INTEREST, INSTALLMENT OF CRITICAL INFRASTRUCTURE, AND
PROVISION OF ELECTRICAL SERVICES; AUTHORIZING THE CITY MANAGER TO
EXECUTE THE AGREEMENT, AND PROVIDING FOR AN EFFECTIVE DATE. (EVERS
WAY AND BEALL WAY ADDITIONS)
WHEREAS, the City Council of the City of Denton hereby finds that the Development
Agreement (the "Agreement") between the City of Denton and :rk+r °
L C, "), acting by and through its duly authorized officers, with a principal place of business
located at 240 Squirrel Run, Argyle, Texas 76226; and i" ]. ' i C:
acting by and through its duly authorized officers, with a principal place of business located at 240
Squirrel Run, Argyle, Texas 76226 (collectively referred to herein as "Developers" and each
individually referred to herein as "Developer") for acquisition of necessary property interest,
installment of critical infrastructure, and provision of electrical services, serves a municipal and
public purpose and is in the public interest; and
WHEREAS, the City of Denton and Developer(s) have negotiated the Agreement for the
mutual benefit of the parties and the general public, a copy of which is attached hereto as Exhibit
A" and made part hereof by reference, NOW, THEREFORE,
THE COUNCYL OF THE CITY OF DENTON URDAINS:
i . The City Council finds that the recitals made in the preamble of this Ordinance
aze true and correct, and incorporates such recitals into the body of this ordinance as if copied in
their entirety.
ti ;. The City Manager, or his designee, is hereby authorized to execute the
Agreement and to carcy out the duties and responsibilities of the City under the Agreement.
This Ordinance shall become effective immediately upon its passage.
seconded b
motion to ,aar ,,µ ' ordinance was
m the
ordinance., . , c N N
and Y " " was passed and approved
by the followiag
vote - '" ` . : Chris Watts,
Mayor; Gerard Hudspeth, District
1: Keely G. Briggs, District
2: Don Duff, District
3: Aye Nay Abstain
John Ryan, District 4: '
Deb Armintor, At Large Place 5:
Paul Meltzer, At Large Place 6: "
PASSED AND APPROVED this the ^,_ mmmmmm_ day of ,, _m __
20
CHRIS WATTS, MA"C
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
APPROVED AS TO LEGAL FORM:
AARON LEAL, CITY ATTORNEY
BY:
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