SUBJECT
title
Authorizing the City Manager to Execute a contract between The City of Laredo and Terra Development Group, LC, A Texas Limited Liability Corporation, and San Pedro Ranch, Ltd, A Texas Limited Partnership, for the reservation of Wastewater Capacity for approximately 1,400 Acres referred to in the Contract as the subject tract for a term of twenty-five (25) years during which the owners may develop the subject tract by subdividing and developing according to all City of Laredo requirements for all or part of the subject tract; providing for mandatory, non-binding mediation. There will be no financial impact for the City.
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PREVIOUS COUNCIL ACTION
N/A
BACKGROUND
The City of Laredo Utilities Department received a request from owner to reserve wastewater capacity for future subdivision and development with a term of 25 years during which the owner may develop by subdividing and developing according to all City of Laredo requirements for all or part of 1,400 acres.
COMMITTEE RECOMMENDATION
STAFF RECOMMENDATION
recommendation
Approval for this motion
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Fiscal Impact
Fiscal Year: 2025
Budgeted Y/N?: Y
Source of Funds: N/A
Account #: N/A
Change Order: Exceeds 25% Y/N: N
FINANCIAL IMPACT:
None