HomeMy WebLinkAbout032465 RES - 07/15/2021Resolution authorizing a 12 -month extension of a Participation Agreement
with Walker Holdings and Development, LLC to expand, extend, and
construct Emory Drive, Silverado Drive, and improve Stormwater Drainage
Channels for Calallen South Unit 1, a planned residential development,
located on IH -69, south of Northwest Boulevard with a City participation
cap of $698,177.56.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI,
TEXAS:
SECTION 1. The City Manager or designee is authorized to execute 12 -month
performance date extension to the Participation Agreement to expand, extend and
construct Emory Drive, and Silverado Drive, and improve Stormwater Drainage
Channels ("Amendment") attached hereto, with Walker Holdings and Development, LLC
for a planned residential development, Calallen South Unit 1, located on IH -69,
south of Northwest Boulevard.
PASSED AND APPROVED on the ii I51-V\day of ; Wv.Q_ , 2021:
Paulette M. Guajardo
Roland Barrera
Gil Hernandez
Michael Hunter
Billy Lerma
John Martinez
Ben Molina
Mike Pusley
Greg Smith
ATTEST: . TY OF CORPUS CHRISTI
Lft[italitadO
Rebecca Huerta Paulette M. Guajardo
City Secretary
Mayor
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SCANNED
AMENDMENT OF PARTICIPATION AGREEMENT
This is an amendment to the Participation Agreement, attached hereto as Exhibit A and made a part
hereof, Document Number 2020031035, originally executed July 18, 2020 by and between: Walker
Holdings and Development, LLC and the City of Corpus Christi.
NOW, THEREFORE, in consideration of the mutual covenants herein, the Parties agree to amend
Reimbursement Agreement, Sections (11)(3) & (27) as follows:
Section 11. DEFAULT. The following events shall constitute default:
3. Developer fails to complete construction of the Roadway Extension and drainage
improvements under the approved plans and specifications on or before July 18, 2022.
Section 27. TERM. This Agreement becomes effective, is binding upon, and inures to the
benefit of the City and the Developer from and after the date of the last signatory to this
Agreement. This Agreement expires on July 18, 2022, unless terminated earlier in
accordance with the provisions of the Agreement.
All other terms and conditions of the original agreement remain effective and in full force.
EXECUTED IN ONE ORIGINAL and made effective this day of15+1' , 2021.
CITY OF ORPUS CHRISTI
WALKER HOLDINGS AND
DEVELOPMENT, LLC
J2 ,(2_
R. ym<' nd III, CBO, AIA Lance Walker,
Dir :ctor/•f Development Services Member / Vice President
APPROVED AS TO LEGAL FORM:
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Buck Brice
Assistant City Attorney
For City Attorney
ATTEST,
REBECCA HUERTA
CITY SECRETARY
(Date)
U t.a) AUTNOfil�ts
(IY COUNCIL
C2021-178
6/15/2021
032465
Walker Holdings and Development, LLC
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STATE OF TEXAS
COUNTY OF N\JUW�
This instrument was acknowledged before me on , day ofvthl , 2021, by
Lance Walker, Member, Vice President on behalf of Walker Holding and
Development, LLC.
�1PP��'u""1`. MARGARITA G. BAYARDO
JY n
'`f' ' ;'' Notary Public, State of Texas
:j'. /‘ v:7 Comm. Expires 03-21-2022
7%;,;e:s Notary ID 124160585
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all) Itik
Notary 9ubli J s Signature
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