The Allen City Council previously approved a Project Development Agreement with The Farm Development, Co., to support the development of The Farm, a 135-acre mixed-use project located at Alma Drive and SH 121.  The purpose of the agreement was to provide economic development assistance to support the construction of infrastructure and a shared parking garage to activate the site and allow for construction of corporate office and retail/entertainment amenities.

The Project Development Agreement included a section stipulating required Building Materials Standards for the project.  These standards were included in the Project Development Agreement because state law prohibits municipalities from regulating these items through other means.  Staff is recommending an amendment to the Project Development Agreement to address Building Materials Standards stipulated in Article VII. The following are the primary adjustments proposed:

• Adjust the cementitious board to be used on Retail, Restaurant, Office and Hotel, and Residential uses to require a minimum 30-year life warranty instead of a 50-year life warranty.
• For Residential uses, adjust the minimum percentage of the facade, that shall consist of Masonry Building Materials, from 85% to 70%; and allow for a maximum of 15% of exterior building materials to be wood.

Staff recommends that the City Council Authorize the City Manager to Execute a First Amendment to the Project Development Agreement between the City of Allen, the Allen Economic Development Corporation, and The Farm Development Co. 

I make a motion to authorize the City Manager to execute a First Amendment to the Project Development Agreement between the City of Allen, the Allen Economic Development Corporation, and The Farm Development Co.