City of Georgetown, Texas
City Council Regular Meeting
September 10, 2019
Consideration and possible action to approve a Termination of Development Agreement between the City of Georgetown and Morris Ventures Partners IV, LLC, concerning the Legend Oaks, Section II Subdivision, located on the southside of State Highway 29 (“University Drive”) between River Chase Boulevard and Wolf Ranch Parkway -- Wayne Reed, Assistant City Manager
Council is being asked to consider terminating a development agreement concerning the Legend Oaks, Section II Subdivision. Will Morris, representing Morris Ventures Partners IV, is seeking to remove the appearance of encumbrances on the property that limit access, restrict land use, and require maintenance of stormwater detention. The property is subject to the City’s Unified Development Code (UDC) and must comply with existing regulations that address access, land use, and stormwater as well as all other aspects of land development. Staff supports the Termination of Development Agreement.
In May of 1993, Vicki and Huey Hancock, owners of the subject property at that time, entered into a development agreement that contemplated the roughly 10 acres of land to develop with six (6) single-family lots ranging in size from one acre up to just over 3 acres with each lot fronting onto State Highway 29. Since that time, the property has been rezoned to General Commercial (C-3). This property was replatted as Lots 6 – 9 of the BlueBonnet Plaza Final Plat in April of this year (Recordation No. 2019036345). The property is contemplated to be developed with commercial uses all in compliance with existing regulations.
There is no financial impact to the City by terminating the development agreement.
Wayne Reed - Assistant City Manager