HM Parkside, LP, a Texas limited partnership and HM CR 176-2243, LP, a Texas limited partnership (collectively, “Developer”) entered into that certain Development Agreement Parkside on the River Subdivision with the City dated November 19, 2019, wherein the Developer, among other items, agreed to acquire drainage easements on land owned by Texas Crushed Stone and on land owned by Gordon W. Faubion to service the Parkside on the River Subdivision (the “Development”).
Separately, Developer and County entered into a Drainage Improvements Participation Agreement dated June 23, 2020 wherein the County and the Developer agreed to obtain certain easements required for the Development as well as County Road 176.
As part of the Drainage Improvements Participation Agreement, the County agreed to obtain an approximately 2.039 acre drainage easement from Texas Crushed Stone as depicted and described in Exhibit B attached to the Agreement Regarding Texas Crushed Stone Drainage Easement (“TCS Easement”) and the Developer agreed to obtain an approximately 4.057 acre drainage easement from Gordon W. Faubion (“Faubion Easement”).
Developer is scheduled to close on the Faubion Easement on or before May 17, 2021. The County has not yet acquired the TCS Easement, but is committed to do so.
In order to allow Developer to file and record a final plat described as Parkside on the River Section 1A (City Case File # 2020-20-FP) (the “Phase 1A Final Plat”) per the terms and conditions of the City’s agreements with the Developer (and its affiliates) pertaining to the Development, and to facilitate the operation and maintenance of CR 176 by the County, the County and the City wish to enter into this Agreement regarding the County’s acquisition of the TCS Easement.
The Williamson County Commissioners Court approved the attached Agreement at its meeting on May 4, 2021.