Board of Directors Regular Meeting Agenda


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Meeting Date: 11/13/2014  

SUBJECT MATTER:
Receive, consider and act upon the conveyance of Restricted Open Space Reserves in: Village of Creekside Park Section 37, ROSR's A, D, & E; Village of Sterling Ridge Section 74 ROSR's A, B, C, D, &  E; and the Alleys of Village of Sterling Ridge Section 74.
FISCAL IMPACT:
Annual cost  for maintenance of the ROSR's is projected to be $630. The majority of ROSR's presented for conveyance are forested reserves or are within the scope of the Streetscape Maintenance Services Agreement. Annual maintenance costs for the Restricted Open Space Reserves (ROSRs) without improvements are limited to as needed tree removal and drainage remediation.  Maintenance of the alley ways should be minimal for the next twenty to thirty years.
BACKGROUND:
The Woodlands Land Development Company (TWLDC) has submitted the following Restricted Open Space Reserves (ROSRs) for conveyance: Village of Creekside Park Section 37, ROSR's A, D, & E; Village of Sterling Ridge, Section 74 ROSR's A, B, C, D, &  E; and the Alleys of Sterling Ridge Section 74 (Attachment A - Special Warranty Deeds). The ROSR’s have been inspected and a pre-conveyance report has been provided to TWLDC. No major issues were reported.
 
The Woodlands Township (per The Woodlands Association) have accepted reserves with alleys in other sections of the Village of Sterling Ridge and agreed to accept future alley ways in the Village of Creekside Park. 

Legal counsel has completed a review of the Special Warranty Deed and has found it to be acceptable.
RECOMMENDATION:
Accept the conveyance by Special Warranty Deed from The Woodlands Land Development Company, L.P. for the Village of  Creekside Park Section 37,-ROSR's A, D,  & E; and the Village of Sterling Ridge Section 74, ROSR's A, B, C, D, &  E, and the Alleys of Sterling Ridge Section 74.
Attachments
Attachment A - Special Warranty Deeds


    

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