HomeMy WebLinkAboutResolution No. 08-068
CITY OF THE COLONY, TEXAS
RESOLUTION NO. 08- 0(4 f
A RESOLUTION OF THE CITY OF THE COLONY, TEXAS,
APPROVING THE FIRST AMENDMENT TO THE
DEVELOPER'S AGREEMENT BETWEEN THE CITY OF THE
COLONY AND MARINE QUEST - HIDDEN COVE, L.P.;
AUTHORIZING THE CITY MANAGER TO EXECUTE THE
AMENDMENT; PROVIDING AN EFFECTIVE DATE
WHEREAS, On or about January 10, 2005 the City entered into a Developer's
Agreement concerning future development of Hidden Cove Park; and
WHEREAS, the City and Marine Quest - Hidden Cove, L.P. desire to amend the
original Developer's Agreement by adding the First Amendment to reflect an updated
five (5) year plan and site plan.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF THE COLONY, TEXAS:
Section 1. The First Amendment to the Developer's Agreement, which is attached
and incorporated hereto as Exhibit "A", having been reviewed by the City Council of the
City of The Colony, Texas, and found to be acceptable and in the best interest of the City
and its citizens, be, and the same is hereby, in all things approved, and the City Manager is
hereby authorized to execute the Amendment on behalf ofthe City of The Colony, Texas.
Section 2. That this Resolution shall take effect immediately from and after its
adoption and it is so resolved.
PASSED, APPROVED and EFFECTIVE this 21st day of July, 2008.
Aet
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Christie . s , City Secretary
Dillard, Mayor
of The Colony, Texas
COUNTY OF DENTON
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AMENDMENT NO.1 TO THE
DEVELOPMENT AGREEMENT
STATE OF TEXAS
This Amendment No. 1 to the Development Agreement, by and between the City of The
Colony, Texas ("City"), and Marine Quest - Hidden Cove, L.P., a Texas Limited Partnership
("Developer"). {City and Lessee shall be referred to collectively as the "Parties").
RECITALS:
WHEREAS, on or about January 10, 2005, the Parties hereto entered into a
Development Agreement (hereinafter, "Original Agreement") for Developer to construct certain
improvements to Hidden Cove Park; and
WHEREAS, the Parties desire to amend the Original Agreement by providing an
updated five (5) year development plan and a site plan, which is attached hereto and incorporated
herein as Exhibit B-1.
NOW THEREFORE THE PARTIES do hereby agree to amend the Original
Agreement as follows:
Section 1. That Article IV of the Original Agreement shall be amended by amending
Section 4.1 to provide for the a site plan as Exhibit B-1 and by repealing Article IV, subsection
4.1.1, Years one (1) through four (4), in its entirety and replacing with the following:
"ARTICLE IV
AGREEMENT
4.1 Project Construction. The Developer shall develop the project in accordance with its
development proposal and as established in Exhibits "B" and "B-1", which are attached hereto
and incorporated herein. . . . . .
4.1.1 Years one (1) through four (4): Within the first year of approval from the United
States Army Corp of Engineers (hereinafter, "Corp") and City, the Developer shall, in
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TM 29347.76.000
accordance with and as depicted in Exhibits B and B-1, construct the following:
A. Twenty nine (29) 24' slips Seventy six (76) 60' slips Twenty nine (29) 30' slips
Forty (40) 72' slips One hundred (100) 36' slips w/pump outs Twenty four (24)
50' slips Forty two (42) 48' slips with pump outs, as depicted
B. 3,240 square foot Ship Store with a fuel dock;
C. Ten (10) rental slips and seventeen (17) transient slips.
D. Sandy beach shall be constructed within the first year.
E. A resort Rustic Lodge/Conference/Nature Center with deluxe pool to be
constructed and substantially complete with in the first five (5) years after
approval by the Corp and the City.
F. Lakeview Restaurant/Bar shall be constructed and substantially complete early
within the first two (2) years.
G. Upgrade fifty percent (50%) of all shelters shall be completed within the first
year.
H. Upgrade remaining shelters within the second year.
I. Developer shall construct dry storage spaces as follows:
(1) One hundred (100) additional dry storage spaces shall be
constructed with the first year;
(2) An additional one hundred (100) open dry storage spaces plus one hundred
twenty four (124) additional covered storage shall be constructed with two
(2) years; and
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(3) An additional two hundred (100) more open dry storage and one hundred
twenty four (124) additional covered storage spaces shall be constructed
with years three (3) through (8).
1. Developer shall expand Recreational Vehicle ("RV") pad sites by fifty (50) units,
as follows:
(1) RV sites shall be expanded by twenty-five (25) in the first year;
(2) RV sites shall be expanded by twenty-five (25) in the second year;
K. Developer shall construct and substantially complete two (2) group bunkhouses
od
prior to the end of the second (2 ) year and two (2) more group bunkhouses by
,d
the end of the third (3 ) year and two (2) more group bunk-houses by the end of
th
the fourth (4 ) year. Rustic cabins shall be added to meet market demands."
Section 2. That the Original Agreement shall be amended by amending Article IV,
subsection 4.1.4 A. by repealing in its entirety and replacing with the following:
"ARTICLE IV
AGREEMENT
4.1.4 Water and Wastewater:
A. Developer has already transferred water and wastewater permits with Texas
Commission on Environmental Quality ("TCEQ") for operation of existing
systems to Developer.
Developer shall construct and complete such
infrastructure expansion of water and wastewater system to accommodate
additional amenities as needed.
"
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Section 3. That the rest and remainder of the Lease Agreement which was entered into
on January 10, 2005 is republished and ratified, except as amended herein.
Section 4. That this amendment shall become effective on the 10th day of August, 2008.
City of The Colony, Texas:
Marine Quest - Hidden Cove, L.P.
By:
~~~
Dale Cheatham, City Manager
City of The Colony
6800 Main Street
The Colony, TX 75056
By:
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