City Council Regular Session Agenda
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Agenda Item 5.
Escrow Agreement with Pulte Homes of Texas, L.P. for the Gramercy Park Residential Development
Summary of Request/Problem
At the July 17 Work Session, Council considered an Agreement with Pulte Homes of Texas, L.P. (Pulte) to place in escrow, Pulte’s proportional share for the future improvement of Holford Road. The Garland Development Code (GDC), Section 3.47 (B) stipulates that the developer’s share of improvements to a perimeter road is at minimum the equivalent of one-half of any adjacent street, along the entire front footage of the subdivision, depending upon the type of the abutting street as shown on the City’s Major Thoroughfare Plan. The Engineering Department has analyzed the developer’s proportional share attributed to the development and has determined the roadway improvements required by the City are justified. Pulte and the City have agreed, Pulte’s proportional share for the Gramercy Park development is $511,686.78.
Recommendation/Action Requested and Justification
Council is requested to approve, by Minute Action, an Escrow Agreement with Pulte Homes of Texas, L.P.
Gramercy Park Location Map
Engineer's Opinion of Probably Cost
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