Four Seasons/FP-AG 910625 AGENDA REQUEST FORM
CITY COUNCIL ~RTING June ZS, 1991 IT~-M NUMBER--~~---
ITEM CAPTION: CONSENT AGENDA
Discussion and approval of an Escrow Agreement between the City of Coppell and Mardevco Credit
Corporation (the owner of the proposed Four Seasons Addition) regarding property at the southeast
corner of Royal Lane and Thweatt Road. A PPRO YE 9 (z:,.,.
SUBMITTED BY:
EVALUATION OF ITEM:
CITY
DATE
STAFF REP.:
Gary L. Sieb, Planning Director
OTHER REP.:
DATE:
As discussed by Council on June 11, Mardevco Credit Corporation has Nroposed an Escrow Agreement
between themselves and the City of Coppell, which basically states:
a developers share of public improvements required by the City in the amount of
$118,ZZ4.00 will be placed in escrow with the City prior to final subdivision plat
approval.
if cost of actual improvements is less than said amount and any accrued interest,
the City shall retain the difference; if improvements cos~t more than the $118,ZZ4
plus any accrued interest, the City shall make up the short fall.
Council also cautioned that this Escrow Agreement is not to be interpreted as general policy,
that each Escrow Agreement would be judged on its/ndivid-~l merits.
As used in this agreement, the escrowed amount refers to no~mal street improvements required
at time of development.
BUDGET AMT.
AMT +/- BUDGET
COMMENTS:
N/A
AMT. ESTIMATED
FINANCIAL REVIEW BY
LEGAL REVIEW BY:
~,GENDA REQUEST FORM EEV~F..D 1/91
REVIEWED BY CM:
D) DCAD
There was no report at this time.
E) ECONOMIC AND BUSINESS DEVELOPMENT BOARD
There was no report at this time.
F) FINANCE
There was no report at this time.
G) LIBRARY
There was no report at this time.
H) METROCREST RED RIBBON CAMPAIGN COMMITTEE (DRUG AWARENESS)
There was no report at this time.
I) MUD ABSORPTION
There was no report at this time.
J) NCTCOG
There was no report at this time.
K) PARK
Councilman Robertson reported that the summer recreation program had over 200 children in
attendance the first four days of this year.
L) RECYCLING COMMITI~EE
There was no report at this time.
M) SCHOOL
There was no report at this time.
CONSENT AGENDA
Item 20 A. Consideration of awarding bid from American Grass company, to provide
construction of two (2) soccer fields at Andrew Brown Park in the amount
of $55,427.38.
B. Discussion and approval of an Escrow Agreement between the City of
Coppell and Mardevco Credit Corporation (the owner of the proposed
Four Seasons Addition) regarding property at the southeast corner of
Royal Lane and Thweatt Road.
C. Consideration of a Resolution granting Coppell Municipal Utility District
(CMUD) consent to annex a 35.914 acre tract and repealing Resolution
No. 042391.1.
D. Consideration for a variance from Section 10-4-3B and 104-3D of the
sign ordinance which concerns banners and signs attached to Public utility
poles. The variance is requested by the Coppell Exchange Club to
advertise the 4th of July parade.
Eo
Consideration and approval of a resolution designating the City Manager
or his appointed designee to execute certain concession agreements
relating to public parks in the city of Coppell and directing the Mayor to
sign.
Councilman Robertson moved to approve Item 20 A, Item 20 B, Item 20 C (Resolution
062591.1), Item 20 D and Item 20 E (Resolution 062591.2). Councilman Cowman seconded
the motion. The motion carried 5-0 with Councilmen Weaver, Morton, Cowman, Robertson
and Nelson voting in favor of the motion.
EXECUTIVE SESSION
Item 5-ES A.
Article 6252-17, Section 2 (e), Senate Concurrent Resolution Number 83,
discussion with City Attorney concerning matter involving privileged
communications between attorney and client.
1. Town Center Agreement
2. Potential claim against City
Bo
Article 6252-17, Section (f), discussion concerning the negotiating position
of the City with respect to agreements involving interests in land and the
value of real property.
1. House Bill 916
2. Tax Abatement Agreement
3. Mardevco (4 Seasons)
4. Kaye Street Drainage
Co
Article 6252-17, Section 2 (g), discussion concerning personnel.
1. Boards and Commissions appointments
2. Discussion with City Manager related to personnel
The City Council convened into Executive Session at 8:35 p.m. on Tuesday, May 14, 1991 as
allowed under the above stated articles. Mayor Wolfe adjourned the Executive Session and
opened the Regular Session at 9:11 p.m.
REGULAR SESSION
There being no further business to come before Council, the meeting was adjourned at 9:11
p.m.
Mark Wolfe, Mayor
ATTEST:
Dorothy Timmons, City Secretary
CITY OF COPPELL
ESCROW AGREEMENT
For and in consideration of the mutual covenants and agreements
herein contained, the City of Coppell ("City") and Mardevco Credit
Corporation ("Developer"), a New York Corporation, do hereby agree as
follows, to-wit:
WHEREAS, the Subdivision Ordinance of the City requires under certain
circumstances that a developer make certain street improvements in or
adjacent to the area being developed and that under certain circumstances
the City is authorized to levy assessments to cover the cost of such
street improvements; and
WHEREAS, its is also provided that where the City finds that it is
not feasible to construct the improvements at the time of development, the
City Council may permit the Developer to place in escrow an amount equal
to the developers share of the cost of said improvements as a condition of
approval of the final plat of the subdivision or final approval of the
development; and
WHEREAS, Developer desires to develop and construct a building on the
real property more particularly described on Exhibit "A" attached hereto
and incorporated herein by reference (the "Property"); and
WHEREAS, Developer desires to place in escrow with the City
$118,224.00 the ("Escrow Amount") which is the present estimated amount of
Developer's share of street improvements should the City undertake a
street assessment to cover the cost of roadway excavation, lime slurry,
lime treatment, pavement, curb and gutter, storm drainage, median
landscaping, raised pavement markers and street lights on that section of
Sandy Lake Road (Thweatt Road) from the intersection, o~ RQyal Lan~ east
· ' rt ~'
591.12 feet to property line of developer s prope y~ ~-~
NOW, THEREFORE, in consideration of the foregoing and
consideration of (i) Developer's waiver and/or release of any and all
rights to a refund of the Escrow Amount, or any part thereof in the event
the Escrow A~nount is greater than Developer's share of the actual cost of
the Street Improvements or the assessment therefor and (ii) City's
a§reement not to "assess and collect" from Developer any amounts in excess
of the Escrow AGreement for construction of the Street Improvements, City
and Developer agree as follows:
Developer waives and/or releases any and all rights to a refund
of the Escrow Amount, or any part thereof.
City shall not "assess and collect" from Developer (and waives
and/or releases any and all rights to "assess and collect" for
the Street Improvements, regardless of whether the Escrow Amount
is less than Developer's share of the actual or assessment cost
of the Street Improvements.
3. Upon deposit of the Escrow Amount City shall not withold the
issuance of Buildin§ Permits based upon Develope~ failure
construct the above mentioned Street Improveme~nts:~
SIGNED and EXECUTED this ~}'~-~ day of ~, 1991.
to
DEVELOPER:
Mardevco Credit Corporation,
a New York corporation
~ Stanle Davidow {tiv
Autl~lo~ed Representat'
ATTEST:
CITY OF COPPELL
City Secretart
APPROVED AS TO FORM:
Law~ce~ JacksOn; C~ Attorn~ey '
ESCROW4.SEA
ROYAL LANE
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FINAL PLAT
FOUR SEASONS ADDITION
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