To: Honorable Mayor and Members of Town Council
Through: David L. Corliss, Town Manager
From: Tara Vargish, P.E., Director, Development Services
Title
Ordinance Approving the Annexation and Vested Property Rights Development Agreement (Pine Canyon); and Vesting Site-Specific Development Plans through December 31, 2050 (Second Reading - Approved on First Reading on May 20, 2025 by a vote 7-0) [located on both the east and west sides of Interstate 25 (I-25). The portion of the property east of I-25 is generally north of Scott Boulevard, south of Black Feather Trail, west of Founders Parkway, and east of Front Street]
Body
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Executive Summary
As part of the proposed annexation and zoning of Pine Canyon PD, JRW Family Limited Parternship LLLP (the “Owner”) is required to enter into the Annexation and Vested Property Rights Development Agreement (DA) with the Town for property known as Pine Canyon Planned Development. This property is located on both the east and west sides of I-25, west of Founders Parkway. (Figure 1) (Attachment A). In addition, the Owner is requesting vested property rights through December 31, 2050.
The property is currently under consideration for annexation and zoning as a Planned Development (PD) under separate land use applications. If the Pine Canyon Annexation and Planned Development Plan and Zoning Regulations are approved, the Owner must enter into a DA with the Town to define the obligations of the property owners and the Town relative to the development of the property. The (DA) is a legally binding contract between the property owners and the Town that list various agreements and obligations on behalf of both the Owner and the Town.
Staff recommends that Town Council approve the Pine Canyon DA.
Budget Impact
The Pine Canyon Annexation and Vested Property Rights Development Agreement formalizes the developer/owner’s financial obligations to adequately address impacts of the development on Town infrastructure and services.
Staff Recommendation
Staff recommends approval of the Pine Canyon Annexation and Vested Property Rights Development Agreement and Vesting a Site-Specific Development Plans through December 31, 2050, as proposed.
Proposed Motions
Option 1: Approval
“I move to adopt the Ordinance approving the Pine Canyon Annexation and Vested Property Rights Development Agreement and Vesting Site-Specific Development Plans through December 31, 2050, as presented.”
Option 2: Approval with Conditions
“I move to adopt the Ordinance approving the Pine Canyon Annexation and Vested Property Rights Development Agreement and Vesting Site-Specific Development Plans through December 31, 2050, with the following conditions:” (list conditions)
Option 3: Continue item to next hearing (need more information to make decision)
“I move to continue this item to the Town Council meeting on [date], 2025, at [time].”
Attachments
Attachment A: Vicinity Map
Attachment B: Ordinance
Attachment C: Development Agreement