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Approval of an Economic Development Agreement, Between XMPK, LLC and the City of Lewisville; and Authorization for the City Manager to Execute the Agreement.
request
ADMINISTRATIVE COMMENTS:
XMPK LLC owns a .0172 acre tract at the southwest corner of Walters and Harris Streets and is proposing to build four (4) townhouse units. This project will add more needed residential units to Old Town. This agreement provides for waiver of roadway escrow fees for Walters and Harris Streets, waiver of park dedication requirements, waiver of building permit fees and a grant equal to the amount of impact fees for the residential units.
RECOMMENDATION:
That the City Council approve the agreement as set forth in the caption above; and authorize the City Manager to execute the amendment.