This item is a Public Hearing on and consideration of an Ordinance approving the First Amendment to the Consent Agreement concerning Williamson County Municipal Utility District No. 34 (“WCMUD No. 34”) also known locally as the Shadow Canyon Subdivision or the Riverview Subdivision. Included in this item is consideration of a new Water Service Agreement for the land in WCMUD No. 34.
Background:
The City, 278 Georgetown, Inc. (the “Developer”), and WCMUD No. 34 entered into a Consent Agreement (the “Original Consent Agreement”) dated as of June 8, 2016. The Original Consent Agreement included, as attachments, a 2005 Water Service Agreement and a 2013 Amendment to that Water Service Agreement (collectively, the “Prior Water Service Agreements”). These agreements pre-date the City’s acquisition of CTSUD’s Certificate of Convenience and Necessity and assignment to the City of the old CTSUD Water Service Agreements. These agreements also pre-date an assignment of certain rights under the Prior Water Service Agreements to the Developer. Some of the terms of the Prior Water Service Agreements no longer apply and the City and Developer desire to update the Water Service Agreement to comport with the City’s current practices for similarly situated properties.
Staff presented an overview of the following changes at the April 27th Council workshop. Council was supportive of the changes and directed staff to return with an amendment to the Consent Agreement.
Proposed Amendments:
The proposed amendments are as follows:
1. Traffic Signalization of SH 29 and River Terrace Drive Intersection
- Existing: No obligation to fund the design and construction of a traffic signal at the intersection of SH 29 and River Terrace Drive (the “Intersection”). Signalization of the Intersection is controlled by TxDOT and is required when a study shows a signal at that location is “warranted.”
- Proposed: Developer to conduct annual warrant studies for 4 years during which time, if the warrant study shows that a traffic signal is required, the Developer will be required to post fiscal to cover the cost of the signalization. After 4 years, the Developer will no longer be required to conduct annual warrant studies but will be required to post fiscal to cover the future cost of the signalization.
2. Residential Development Standards
- Existing: Residential Development Standards are in the Planned Unit Development (PUD).
- Proposed: Residential Development Standards will be carried forward in the Consent Agreement (without changes from the PUD).
3. San Gabriel River Trail Deadlines
- Existing: No commencement deadline; development-paced deadlines for completion.
- Proposed: Add a commencement deadline of May 31, 2022 and add a completion deadline of December 31, 2022.
4. Maximum Amount of Bonds to Be Issued
- Existing: Not more than $19,900,000.
- Proposed: Not more than $26,000,000
5. Water Services Agreement (a separate, but related agreement)
- Existing: Old CTSUD Water Service Agreement form contracts, which have been partially assigned to Developer.
- Proposed: True-up to fit the current project with regard to the 600 LUEs of the prior service commitment allocated to the WCMUD No. 34 land and update other terms and conditions per similar City Water Service Agreements in the old CTSUD water service area.