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Home My WebLink About033411 ORD - 07/23/2024Ordinance authorizing a Water Arterial Transmission & Grid Main Construction and Reimbursement Agreement up to $899,000.00 with Saratoga 400 Partners, LLC to construct a water arterial transmission grid main related to Saratoga Ridge subdivision off Saratoga Blvd, between Old Brownsville Rd and Greenwood Rd; and authorizing future transfer and appropriation of Water and Wastewater Trust Fund revenue up to $899,000.00 to reimburse the developer in accordance with the agreement. (District 3). WHEREAS, the Developer/Owner, in compliance with the City's Unified Development Code ("UDC"), has a preliminary plat, approved by the Planning Commission on November 1, 2023, to develop a tract of land, to wit: approximately 257.69 acres known as Saratoga Ridge, located off Saratoga Blvd, between Old Brownsville Rd and Greenwood Rd; WHEREAS, under the UDC, the Developer/Owner is responsible for the construction of the 12-inch Water Arterial Transmission & Grid Main ("Water Improvements"); WHEREAS, under the UDC, the Developer/Owner is eligible for reimbursement of the Developer/Owner's costs for the construction of Water Improvements; WHEREAS, it is in the best interests of the City to have the Water Improvements be constructed to its ultimate capacity under the City's applicable Master Plan; and WHEREAS, the City's participation as Trustee does not create a loan of its credit because Texas Constitution Article 1.1, Section 3 prohibits the City from becoming a subscriber to the capital of any private corporation or association, or make any appropriation or donation to the same, or in anywise loan its credit; WHEREAS, execution of the Agreement constitutes a promise to pay only to the extent that the assets and future assets of the trust are sufficient for such purpose and that any judgement will only be satisfied out of the assets of the trust and not out of the City's assets and the City is excluded from personal liability; WHEREAS, the Water Arterial Transmission & Grid Main Trust Fund does not currently have sufficient funds to fully reimburse Developer/Owner for Water Improvements under the Agreement; WHEREAS, a construction and reimbursement agreement must be approved by the City Council before the developer starts construction; WHEREAS, reimbursement shall only be made when monies are available in and appropriated from the Water Arterial Transmission & Grid Main Trust Fund. The order of the reimbursement will be determined according to the date construction and reimbursement agreement is approved by the City Council; WHEREAS, the Agreement approved herein will be tenth -in -line in the order for reimbursement from the Water Arterial Transmission & Grid Main Trust Fund based on the date the agreement is approved by the City Council per UDC 8.5.3.E; and WHEREAS, If the developer is owed funds from the Water Arterial Transmission & Grid Main Trust Fund, reimbursement shall be made as funds are deposited into the trust fund from 03341 other development and/or, the developer will be given credit for lot or acreage fees that are due on subsequent final plats filed with the County Clerk per UDC 8.5.3.E. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS, THAT: SECTION 1. The City Manager, or designee, is authorized to execute a Water Arterial Transmission & Grid Main Construction and Reimbursement Agreement ("Agreement") with Saratoga 400 Partners, LLC ("Developer") for the installation of Water Improvement, including all related appurtenances, for the development of Saratoga Ridge, Corpus Christi, Nueces County, Texas. SECTION 2. In the event of a project delay, the City Manager or designee is authorized to execute an extension of the agreement for a period not to exceed a period of 12 months. SECTION 3. The City Manager or designee is authorized to transfer future revenue of the Water Distribution Main Trust Fund, Wastewater Trunk System Trust Fund and Wastewater Collection Line Trust Fund to the No.4030-21805-777 Water Arterial Transmission & Grid Main Trust Fund, in accordance with the priority established by UDC 8.5.1.C.1.d, 8.5.1.C.2.d, 8.5.2.E.1.d, and 8.5.2.E.2.d, until $899,000.00 is appropriated in accordance with this ordinance. SECTION 4. The City Manager or designee is authorized to appropriate up to $899,000.00 from the No.4030-21805-777 Water Arterial Transmission & Grid Main Trust Fund as funds become available to reimburse the Developer for the water transmission line construction and improvements in accordance with the Agreement, this ordinance, and the UDC. SECTION 5. This ordinance takes effect upon passage. Introduced and voted on the 1 day,,\of ' , 2024. P . SE I . nd APPROVFQ on the .3"day of , 2024. Paulette Guajardo, Mayor / Rebecca Huerta, Ci Iv y Secretary 033411 CITY OF CORPUS CHRISTI CERTIFICATION OF FUNDS (City Charter Article IV, Sections 7 & 8) I, the Director of Financial Services of the City of Corpus Christi, Texas (or his/her duly authorized representative), hereby certify to the City Council and other appropriate officers that the money required for the current fiscal year's portion of the contract, agreement, obligation or expenditure described below is in the Treasury to the credit of the Fund specified below, from which it is to be drawn, and has not been appropriated for any other purpose. Future payments are subject to annual appropriation by the City Council. City Council Action Date: 07/16/2024 Legistar Number: 24-0070 Agenda Item: Ordinance authorizing a Water Arterial Transmission & Grid Main Construction and Reimbursement Agreement up to $899,000 with Saratoga 400 Partners, LLC to construct a water arterial transmission grid main related to Saratoga Ridge subdivision off Saratoga Blvd, between Old Brownsville Rd and Greenwood Rd; and authorizing future transfer and appropriation of Water and Wastewater Trust Fund revenue up to $899,000.00 to reimburse the developer in accordance with the agreement. (District 3). Amount Required: (Amount to be Certified) $899,000.00 Fund Name Accounting Unit Account No. Amount Water Arterial Transmission & Grid Main Trust Fund as fund become available (Future Revenues) 4030-21805-777 540450 $899,000.00 TOTAL $899,000.00 ❑ Certification Not Required Director of Financial Services Date: