Section 107-274; Ord. 19009; Authorizing a development agreement with B & E Investment, Inc., Bristol 6789, LLC, Bristol Lake Investment Company, LLC and Bristol 124, LLC relating to the Bristol Lake Development and related road improvements


Ordinance No. 19009                            Council Bill No. B 153-06 A

     AN ORDINANCE

authorizing the City Manager to execute a development agreement with B & E Investment, Inc., Bristol 6789, LLC, Bristol Lake Investment Company, LLC and Bristol 124, LLC relating to the Bristol Lake Development and related road improvements; directing the City Clerk to have the development agreement recorded; amending Ordinance No. 018043 relating to conditions of approval; and fixing the time when this ordinance shall become effective.

BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBIA, MISSOURI, AS FOLLOWS:

    SECTION 1.    The City Manager is hereby authorized to execute a development agreement with B & E Investment, Inc., Bristol 6789, LLC, Bristol Lake Investment Company, LLC and Bristol 124, LLC relating to the Bristol Lake Development and related road improvements.  The form and content of the agreement shall be substantially as set forth in "Exhibit A" attached hereto and made a part hereof as fully as if set forth herein verbatim.

    SECTION 2.    The City Clerk is authorized and directed to have a certified copy of the development agreement recorded in the office of the Boone County Recorder of Deeds.

    SECTION 3.    Subsection 2 of Section 17 of Ordinance No. 018043 is amended as follows:

Material to be deleted in strikeout; material to be added underlined.

    SECTION 17.  The zoning of the property described in this ordinance is subject to the following conditions:

. . .

2.     The developer shall provide a traffic impact study prior to the approval of any development plan for the construction of more than 350 dwelling units within the overall development or for any development on Tracts 4, 5, 6, 7, 8 or 9.  No traffic impact study or offsite traffic improvements shall be required in connection with the use of Tracts 1, 2, 3, or 4 for a school or church.  Use of Tracts 1, 2, 3 or 4 for a school or church shall not reduce the number of dwelling units (350) allowed before a traffic impact study must be provided.  The traffic impact study for Tract 9 shall be limited to a determination of improvements needed to Ponderosa Street as a result of development of Tract 9, use of Tract 3 for a park, and construction of a street across Tract 9 to Tract 3.  Approval of the development plans for each of Tracts 4 (other than for a school or church), 5, 6 and 7, and approval of any plat for or site disturbance permit for or building permit for construction of any structure on Tract 8 is subject to the following conditions:

    a.     The property owner shall provide a traffic impact study acceptable to the City and the Missouri Department of Transportation (MoDOT) showing that the planned street improvements are sufficient to handle the traffic to be generated by the development;

b.    A break-in-access agreement shall be entered into between the property owner and MoDOT allowing construction of the interchange at Highway 63 and Gans Road; and

     c.    A development agreement acceptable to the City and MoDOT that provides for the necessary highway and street improvements shall be submitted to the City prior to approval of the development plan for any of Tracts 4, 5, 6 and 7, or approval of any plat for, building permit for any structure on, or site disturbance permit for Tract 8.  The development agreement shall include the items set forth in Section 18.  No development of Tracts 4, 5, 6, 7 or 8 shall begin before the development agreement is executed by developer and all other parties.  Prior to execution of the development agreement, pProperty owner shall provide verification that financing is available and other arrangements have been made to build such improvements the Gans Road/U.S. Highway 63 Interchange, relocated Gans Road and Ponderosa Street improvements.  Verification shall be in the form of a letter from an FDIC insured financial institution having business offices in Columbia, Missouri, verifying that B & E Investment, Inc., Bristol 6789, LLC, Bristol Lake Investment Company, LLC and Bristol 124, LLC have, in the aggregate, assets on hand in such institution or borrowing capacity at such institution, sufficient to meet their financial obligations to contribute to the cost of such improvements under the development agreement called for in this ordinance.  The financial institution providing such verification shall be subject to the approval of the City Director of Finance which approval shall not be unreasonably withheld or delayed.

    SECTION 4.    This ordinance shall be in full force and effect from and after its passage, except Section 3 which shall be in full force and effect upon execution of the development agreement authorized in Section 1 of this ordinance.

    PASSED this 1st day of May, 2006.