Laserfiche WebLink
<br />DEVELOPMENT AGREEMENT <br /> <br />This DEVELOPMENT AGREEMENT ("Agreement") is entered into between La Porte <br />81, Ltd.; La Porte 82, Ltd.; and La Porte 115, Ltd., Stuart Haynsworth, General Partner <br />and attorney in fact respectively; and their Successors and Assigns (Owner-Developer) <br />and CITY OF LA PORTE, TEXAS, a Texas Municipal Corporation ("City") on the davof <br />March,2005. <br /> <br />Recitals <br /> <br />Owner-Developer has proposed development of an approximate 342-acre tract in the <br />City of La Porte, as the Texas Import-Export Park, which is referred to as the Tract and <br />defined hereinafter in Article I. Owner-Developer plans to develop the Tract, presently <br />zoned PUD, for retail, commercial, business park with some industrial uses. Owner- <br />Developer shall construct municipal utilities, including streets, a water distribution <br />system, wastewater collection system, and the storm drainage/detention system that <br />will connect with the existing City of La Porte and other regional systems in accordance <br />with development regulations and policies of the City and Harris County Flood Control <br />District. <br /> <br />The City has required, and Owner-Developer has agreed, that the tract will be <br />developed in accordance with the General Plan approved by the City (as defined below <br />and attached hereto). <br /> <br />AGREEMENT <br /> <br />NOW THEREFORE, in consideration of the mutual promises, obligations, and benefits <br />contained herein, the City and Owner-Developer agree as follows: <br /> <br />ARTICLE I. DEFINITIONS AND EXHIBITS <br /> <br />1.1 Definitions. Unless the context indicates otherwise, the following words as used <br />in this Contract shall have the following meanings: <br /> <br />City means the City of La Porte, Texas. <br /> <br />General Plan means the plan for the physical development and use of the Tract as <br />defined herein and approved by the City on 2005, or as amended as allowed herein. <br /> <br />Owner-Developer means La Porte 81, La Porte 82, La Porte 115, Ltd. Partnerships or <br />their assigns or succeeding developers. <br /> <br />Tract means the approximate 342 acres of land to be developed by Owner-Developer <br />as described in Exhibit A. <br /> <br />Development Agreement (Draft) <br /> <br />Page 1 of 9 <br /> <br />-,'.-LUBnir <br />-Xr-. F, <br />