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<br />Other area reimbursem_ for residential developments within &z: <br />. Baytown 70%-Water, Sewer, Drainage <br />100%-Offsite <br />100%-Water, Sewer, Drainage and Offsite <br />100%-Water, Sewer, Drainage and Off site <br />100%-Water, Sewer, Drainage and Offsite <br /> <br />. Missouri City <br />. League City <br />. Houston <br /> <br />Development Aereement <br /> <br />The development agreement is very similar to the draft provided to the Board earlier. It has <br />been reviewed by the Board's Legal Counsel, Andrews/Kurth. <br /> <br />Concludine Remarks <br /> <br />It is important to resolve the reimbursement level rather quickly so Arete can finalize the <br />engineering, file plats and break ground. Mr. Fogarty has requested a reimbursement of <br />$8,942,900. It is suggested that a fair reimbursement be at or near Column 6, $7,103,500. <br />This would be slightly higher than the 70% MUD reimbursement. <br /> <br />This has been posted as an action item. If the Board wishes to review this further and <br />consider at a later date, I suggest that we at least target the end of August to coincide with <br />City Council's consideration of the SCUP. <br /> <br />Enclosures: <br />Reimbursement Spreadsheet <br />TlRZJDeveloper Cost Summary <br />TIRZIDeveloper Revenue Schedule <br />Layout of Lakes at Fainnont Greens <br />Development Agreement <br />