HomeMy WebLinkAbout033501 RES - 10/22/2024Resolution authorizing a Developer Participation Agreement with MPM
Development, LP to reimburse the developer up to $846,528.72 for the City's
share of the cost to construct Lady Alexa Drive and Natasha Lane with Roller
Compacted Concrete for the King's Landing Unit 5 subdivision. (District 3)
WHEREAS, the Developer is oversizing by constructing Lady Alexa Dr and
Natasha Lane as C-3 collector street in lieu of 28' residential street; and
WHEREAS, the City has determined the agreement will carry out the purpose
of the Unified Development Code;
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI,
TEXAS, THAT:
SECTION 1. The City Manager or designee is authorized to execute a developer
participation agreement ("Agreement") with MPM Development, LP, ("Developer"), for the
City's portion of the cost to construct the street infrastructure improvements including all
related appurtenances for development of King's Landing Unit 5, Corpus Christi, Nueces
County, Texas.
PASSED and APPROVED on the
Pau ette Guajardo, May
day of 12--{ , 2024.
Re ecca Huerta, i y Secretary
033501
SCANNED
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: 10/22/2024 Legistar Number: 24-1732
Agenda Item:
Resolution authorizing a Developer Participation Agreement with MPM Development, LP
to reimburse the developer up to $846,528.72 for the City's share of the cost to construct
Lady Alexa Drive and Natasha Lane with Roller Compacted Concrete for the King's
Landing Unit 5 subdivision. (District 3)
Amount Required: (Amount to be Certified) $ 846,528.72
Funding Detail:
Fund: 1041 (Streets)
Department: 33 (Streets)
Organization: 11112 (Purchases with Short Term Debt)
Project: King's Landing Unit 5 Participation Agreement
Account: 530000 (Professional Services)
Amount: $846,528.72
❑ Certification Not Required
Director of Financial Services Date:
1
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