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HomeMy WebLinkAbout033072 ORD - 06/27/2023Ordinance authorizing an amendment in the amount of $79,923.00 to the Water Arterial Transmission and Grid Main Construction and Reimbursement Agreement with Cypress Point Capital, LLC, to fully fund the construction of a required water arterial transmission grid main line for the proposed residential development located South of Farm Road 2444 on County Road 43, otherwise known as Caroline's Heights Unit 1; appropriating $79,923.00 from the Water Arterial Transmission & Grid Main Trust Fund to reimburse the developer in accordance with the agreement. WHEREAS, the Developer/Owner, in compliance with the City's Unified Development Code ("UDC"), has a plat, approved by the Planning Commission on November 10, 2021, to develop a tract of land, approximately 18.72 acres known as Caroline's Heights Unit 1; WHEREAS, under the UDC, the Developer/Owner is responsible for construction of the Water Arterial Transmission and Grid main extension ("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; WHEREAS, Section 8.5.1.C. of the UDC authorizes the acceptance of applications to be eligible for reimbursement in the future when certain funds become fully available in the Water Arterial Transmission and Grid Main Trust Fund and are appropriated by the City Council. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS: SECTION 1. The City Manager or designee is authorized to execute an amendment to the water arterial transmission and grid main construction and reimbursement agreement ("Agreement"), attached hereto, with Cypress Point, LLC ("Developer"), to increase the amount of reimbursement by $79,923.00 for the extension of a 12 -inch water arterial transmission and grid main line, including all related appurtenances, for the development of Caroline's Heights Unit 1 Subdivision, Corpus Christi, Nueces County, Texas. SECTION 2. In the event of 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. Funding in the amount of $79,923.00 is appropriated from the No.4030-21805-777 Water Arterial Transmission & Grid Main Trust Fund for reimbursement per the agreement. SECTION 4. This ordinance takes effect upon passage. 033072 SCANNED That the foregoing ordinance was read for the first time and passed to its second reading on this the 13* day of 41_ , 2023, by the following vote: Paulette Guajardo . (J Jim Klein Roland Barrera Sylvia Campos Gil Hernandez Michael Hunter Mike Pusley Everett Roy Dan Suckley That the foregoing ordinance was read for the second time and passed finally on this the day of J C.kAk._ , 2023, by the following vote: Paulette Guajardo Roland Barrera Sylvia Campos Gil Hernandez Michael Hunter A 2�1 Jim Klein At____ Mike Pusley Everett Roy Ate/ Ay_Dan Suckley PASSED AND APPROVED on this the )11 day of TWILL , 2023. ATTEST: e ecca Huerta City Secretary 033©72 aulette Guajardo Mayor 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: 06/27/2023 Legistar Number: 23-0825 Agenda Item: Ordinance authorizing an amendment in the amount of $79,923.00 to the Water Arterial Transmission and Grid Main Construction and Reimbursement Agreement with Cypress Point Capital, LLC, to fully fund the construction of a required water arterial transmission grid main line for the proposed residential development located South of Farm Road 2444 on County Road 43, otherwise known as Caroline's Heights Unit 1; appropriating $79,923.00 from the Water Arterial Transmission & Grid Main Trust Fund to reimburse the developer in accordance with the agreement. Amount Required: (Amount to be Certified) $79,923.00 Fund Name ❑ Accounting Unit Account No. Activity No. Amount Water Arterial Transmission & Grid Main Trust 4030-21805- 777 540450 $79,923.00 TOTAL $79,923.00 certification Not Required aeit4/64„)<1<;-t)64,7r--- to la, 1 zoz3 irector of Financial Services Date: