HomeMy WebLinkAboutOrdinance No. 00-1227 ORIGINAL
CITY OF THE COLONY, TEXAS
ORDINANCE NO. O0-/,~oO 7
AN ORDINANCE OF THE CITY OF THE COLONY, TEXAS,
AUTHORIZING THE CITY MANAGER TO ENTER INTO AN ESCROW
AGREEMENT WITH LEGEND PARTNERS, LTD FOR THE
CONSTRUCTION OF A PORTION OF MEMORIAL DRIVE; ATTACHING
THE APPROVED FORM OF CONTRACT AS EXHIBIT "A"; AND
PROVIDING AN EFFECTIVE DATE
WHEREAS, Legend Partners, Ltd. has provided in escrow funding to construct the north
half of Memorial Drive from Navaho Lane to the Railroad; and
WHEREAS, the City of The Colony desires to have the north portion of Memorial Drive
constructed;
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF THE COLONY,
TEXAS:
SECTION 1. That the City Manager of the City of The Colony, Texas is hereby authorized
to execute on behalf of the City a contract with Legend Parmers, Ltd. for construction of a portion
of Memorial Drive from Navaho Lane to the Railroad. The approved form of contract is attached
hereto as Exhibit "A", and made a part hereof for such purposes.
SECTION 2. This Ordinance shall take effect immediately from and after its passage by the
City Council of the City of The Colony, Texas.
DULY PASSED AND APPROVED by the City Council of the City of The Colony, Texas
this 18th day of September 2000.
~P~ROVED: f
ATTEST:
Patti A. Hicks, TRMC, City Secretary
APPROVED AS TO FORM:
tto-rney
STATE OF TEXAS § LEGEND BEND, PHASE II
COUNTY OF DENTON § ESCROW AGREEMENT
This Agreement is made by and between the City of The Colony, a Texas Home Rule
Municipality (thc "City"), and Legends Partners, Ltd., a Texas Limited Partnership (thc
"Developer") (the City and the Developer are hereinafter referred to together as the "Parties").
I. WHEREAS, The Developer is required to provide adequate access to and fi.om its sub-
division, to insure that any and all streets, and all other improvements which are to be dedicated
to the public, hereinafter referred to as "Improvements," are constructed and completed in
accordance with thc specifications, standards, ordinances and other applicable laws of the City;
and
2. WHEREAS, Legend Bend, Phase II comprised a 69.94 acre tract situated North and
abutting the proposed Memorial Drive, a six lane divided arterial (6D-A), as shown on the
approved City thoroughfare plan; and
3. WHEREAS, It is essential to the City's public health, safety and general welfare to
assure that any development in the City is supported by adequate levels of public facilities and
services; and
4. WHEREAS, The City determined that a portion of Memorial Drive East of Navaho
Road may be constructed as an elevated roadway sometime in the future; and
5. WHEREAS, Based on an Engineer's Cost Summary, prepared by Corwin Engineering,
Inc., which shows a cost of thirty eight thousand six hundred seventy and no/100 dollars
($38,670.00) to construct that portion of Memorial Drive East of Navaho Drive, to the Railroad
tract; and
6. WHEREAS, A~er Legends Parmers, Ltd. had paid the above sum, the City requested
that Legends Partners, Ltd. stop any paving and construction of the two lane pavement of
Memorial Drive, East of the Navaho Drive intersection; and
7. WHEREAS, The City acknowledges the receipt of the above-mentioned sum fi.om
Legends Partners, Ltd. and the Parties agree that such sum will operate to forever release
Legends Partners, Ltd. from all obligations or responsibilities related to Legend Bend, Phase II,
Memorial Drive, l~:-rimeter road requirements or other similarly related issues; and
8. WHEREAS, The Parties agree that the above-mentioned sum is to be escrowed by the
City in an interest bearing account and that if said sum is not used for the construction of that
portion of Memorial Drive within the statutory time limit, as provided by the laws of the State of
Texas, then said sum plus the earned interes! shall be refunded to Legends Partners, Ltd.
ESCROW AGREEMENT Page I
EXECUTED on this ~__~ay of September, 2000.
Attest: THE CITY OF THE COLONY
Patti Hicks L~be~rt - - -
City Secretary, City of The Colony City"l~;[anager, City of The Colony
Date: ~
LEGENDS PARTNERS, LTD.
By:
Its:
Date:
ESCROW AGRF~KMENT Page 2
CORWIN ENGINEERING, INC.
200 W. Belmont · Suite E · Allen, TX 75013
(972) 396-1200 · FAX (972) 396-4987
MEMORIAL DRIVE COST SUMMARY
(Navaho Drive to Railroad)
COST SUMMARY
8" Paving 1736 S.Y. ~ $ 19.50 $ 33,852
Lime Subgrade ! 850 S.Y. ,~ [.08 1,998
Lime 30 Tons ~ 94.00 I 2,820
Total $ 38,670
Engineers - Planners ' Surveyors