Terms Sheet Terminology

Terms Sheet Terminology Here's what's included in the Terms Sheet of the proposed agreement between Gary Bradley and the city of Austin:

Impervious cover: All Bradley property will be developed at SOS impervious cover levels (which, with this particular combination of contributing and recharge zone land, come to 16%). This will be achieved by the clustering of impervious cover -- also known as development mitigation -- whereby, for example, Circle C West can be developed at a high density, and other land will be preserved undeveloped in order to bring the average impervious cover down to 16%. Te preservation will be enforced by a conservation easement which would grant the city of Austin discretion over any extra-SOS development on the property.

House Bill 1704: The agreement will secure improved water quality standards for properties grandfathered under HB 1704 -- resulting in a concentration of pollutants which, while greater than SOS would allow, would be substantially less than would result from the development's plans under grandfathering.

City water quality regulations and Water Quality Protection Zones: Bradley will adhere to city regulations, even if water quality protection zones (WQPZs) are declared constitutional by the Texas Supreme Court, and even if the legislature hands down more laws that allow developers to evade local water quality and other regulations. These terms will "run with the land," binding any future owners to the same conditions. Bradley will dissolve the Pfluger Ranch WQPZ, which it owns, and will attempt to withdraw from the Slaughter and Bear WQPZs. If they can't, the terms of agreement will apply within the WQPZs.

Land use: Both road construction and retail development will be designed to serve existing and local purposes; no over-sizing of roads or construction of regional retail destinations will be permitted.

Reimbursables: The city will pay Bradley reimbursables from the annexation of the Circle C MUD in an amount determined by a city audit, with interest but without any potential statutory penalties. The current lawsuit over reimbursables will be dropped.

Golf course management: The big golf course and hotel slated for construction in Circle C will be subject to a management plan, which will approximate the city's golf course management policies, and which will be enforceable by the city.

Annexation/water & wastewater tradeoff: In return for getting water and wastewater service to Spillar Ranch and Pfluger Ranch, Bradley will agree to annexation of those developments.

Access easements: Bradley will deed to the city access easements for hiking and nature trails for land that adjoins recently purchased, city-owned Proposition 2 land.

Capital recovery fees: The city will waive capital recovery fees -- water and wastewater fees charged to developers to mitigate the cost of new development, for single family residential and non-retail residential, excluding the hotel-golf course development and non-retail commercial buildings larger than 50,000 feet.