Tlie City of Lago Yista

Transcription

1 Tlie City of Lago Yista To yrovid"e ant maintain a fieafrliy, safe, vi6ra11t com11w 1tity, e11rnri11g qiwfity of flje. AGENDA CITY COUNCIL SPECIAL CALLED MEETING THURSDAY, FEBRUARY 2, 2017 NOTICE IS HEREBY GIVEN that the Lago Vista City Council will hold a Special Called Meeting on Thursday, February 2, 2017, beginning at 7:00 p.m. at K-Oaks Clubhouse, 7000 Bar K Ranch Road, Lago Vista, Texas,, as prescribed by V.T.C.A., Government Code Section , to consider the following agenda items. Items do not have to be taken in the same order as shown in the meeting notice. CALL TO ORDER, CALL OF ROLL, PLEDGE OF ALLEGIANCE CITIZEN COMMENTS: In accordance with the Open Meetings Act, Council is prohibited from acting or discussing (other than factual responses to specific questions) any items not on the agenda. PRESENTATION 1. Recognition to the City of Lago Vista for being awarded the 2017 Innovative Water Supply Award from Texas Water Development Board Commission. ACTION ITEMS 2. Consideration (action) by the City Council concerning a Home Occupation for an animal grooming business to be operated on the premises. ZON Presentation and discussion of the Vista Bella and Panorama Pointe applications to the Texas Department of Housing and Community Affairs for the 2017 competitive housing tax credits. 3A. Discussion and consider approval of Resolution No ; A Resolution by the City Council of the City of Lago Vista, Texas supporting KCG Vista Bella, LP, it's successors, assigns or affiliates, in submitting an application to the Texas Department of Housing and Community Affairs for a 2017 competitive 9% Housing Tax credits for the creation of Vista Bella. 3B. Discussion and consider approval of Resolution No ; A Resolution by the City Council of the City of Lago Vista, Texas supporting Panorama Pointe LP in submitting an application to the Texas Department of Housing and Community Affairs for a 2017 Competitive 9% Housing Tax credits for the creation of Panorama Pointe. I IP age 1

2 4. Discussion and consider approval of Resolution No ; A Resolution by the City Council of the City of Lago Vista, Texas authorizing the City Manager to enter into an unimproved property contract for purchase of Lot 15 Bar K Airport Subdivision for $143, Discussion and consideration of Resolution No , A Resolution by the City Council of the City of Lago Vista, Texas authorizing the Mayor and City Attorney to negotiate a final contract for an Interim City Manager on terms outlined by the City Council. 6. Discussion and possible action regarding funding for the Lago Vista golf courses. WORK SESSION 7. Discussion of some of the introduced legislation for the 85th Legislative Session of importance to the City. FUTURE MEETINGS 8. Consider schedule and items for future Council meetings. EXECUTIVE SESSION 9. Convene into Executive Session pursuant to Sections (Advice of Counsel), (Real Property), 551,074 (Personnel), (Economic Development), Texas Government Code and Section 1.05 Texas Disciplinary Rules of Professional Conduct regarding: A. Consultation with Legal Counsel concerning process and options for obtaining replacement for City Manager and/or interim City Manager. B. Consultation with Legal Counsel concerning upcoming Legislative Session and possible items for consideration by Legislature. ACTION ITEMS (action and/or a vote may be taken on the following agenda items): 10. Reconvene from Executive Session into open session to take action as deemed appropriate in City Council's discretion regarding: A. Consultation with Legal Counsel concerning process and options for obtaining replacement for City Manager and/or interim City Manager. B. Consultation with Legal Counsel concerning upcoming Legislative Session and possible items for consideration by Legislature. ADJOURNMENT 21 2

3 IT IS HEREBY CERTIFIED that the above Notice was posted on the Bulletin Board located at all times in City Hall in said City at 3 : 40 on the 2?1h day of January, Sandra Barton, City Sec;retary THIS MEETING SHALL BE CONDUCTED PURSUANT TO THE TEXAS GOVERNMENT CODE SECTION ET SEQ. AT ANY TIME DURING THE MEETING THE COUNCIL RESERVES THE RIGHT TO ADJOURN INTO EXECUTIVE SESSION ON ANY OF THE ABOVE POSTED AGENDA ITEMS IN ACCORDANCE WITH THE SECTIONS , , , , OR THE CITY OF LAGO VISTA IS COMMITTED TO COMPLIANCE WITH THE AMERICANS WITH DISABILITIES ACT. REASONABLE MODIFICATIONS AND EQUAL ACCESS TO COMMUNICATIONS WILL BE PROVIDED UPON REQUEST. AT THIS MEETING AT THE STATED LOCATION, A QUORUM OF THE CITY COUNCIL WILL BE PHYSICALLY PRESENT AND THIS NOTICE SPECIFIES THE INTENT TO HAVE A QUORUM PRESENT THERE, AND THE MEMBER OF THE CITY COUNCIL PRESIDING OVER THE MEETING WILL BE PHYSICALLY PRESENT AT THAT LOCATION. ONE OR MORE MEMBERS OF THE CITY COUNCIL MAY PARTICIPATE IN THIS MEETING REMOTELY, AND IF SO, VIDEOCONFERENCE EQUIPMENT PROVIDING TWO-WAY AUDIO AND VIDEO DISPLAY AND COMMUNICATION WITH EACH MEMBER WHO IS PARTICIPATING BY VIDEOCONFERENCE CALL WILL BE MADE AVAILABLE. REMOVED FROM BULLETIN BOARD: Date: Time: By: J c' 3

4 MEETING DATE: February 2, 2017 CALL TO ORDER: AGENDA ITEM: CALL TO ORDER, CALL OF ROLL, PLEDGE OF ALLEGIANCE Comments: ADJOURN: TURN RECORDER OFF Motion by: Seconded by: Content of Motion: Vote: Tippetts ; Sullivan ; Tidwell ; R. Smith ; Mitchell ; S. Smith ; Bland Motion Carried: Yes ; No 4

5 MEETING DATE: February 2, 2017 AGENDA ITEM: CITIZEN COMMENTS Comments: Motion by: Seconded by: Content of Motion: Vote: Tippetts ; Sullivan, Tidwell ; R. Smith ; Mitchell ; S. Smith ; Bland Motion Carried: Yes ; No 5

6 MEETING DATE: February 2, 2017 AGENDA ITEM: Recognition to the City of Lago Vista for being awarded the 2017 Innovative Water Supply Award from Texas Water Development Board Commission. Comments: Motion by: Seconded by: Content of Motion: Vote: Tippetts ; Sullivan ; Tidwell ; R. Smith ; Mitchell ; S. Smith ; Bland Motion Carried: Yes ; No 6

7 AGENDA ITEM City of Lago Vista To: Mayor & City Council Council Meeting: February 2, 2017 From: David Harrell, AICP, Director of Development Services Subject: ZON-1058: Consideration (action) by the City Council concerning of a Home Occupation for an animal grooming business to be operated on the premises. Request: Public Hearing Legal Document: Other Legal Review: EXECUTIVE SUMMARY: Please see attached staff report. The Planning & Zoning Commission heard the item at their January 26, 2017 meeting. By a vote of 4-1, they Commission recommended approval of the item by the following conditions: 1) Customers are limited to no more than seven customers a day for a total of 35 a week. 2) This type of Use is only allowed during power failure or at times the National Weather Service has issued a Winter Storm Warning, Freeze Warning, or Flood Warning. 3) At Home Use doesn't allow for pet boarding. Some dissensions were concerned about others continuing to due commercial enterprises in residential areas, how it could spread (over commercialization and setting precedent), and future City enforcement issues. 7

8 Impact if Approved: The business could function in the format described in their application Impact if Denied: The business could not function in the format described in the application. Is Funding Required? Yes No If Yes, Is it Budgeted? Yes No N/A Indicate Funding Source: N/A Suggested Motion/Recommendation/Action Motion to: Motion to: Motion to: Approve Item Deny Item Table Item Known As: ZON-1058 Agenda Item Approved by City Manager 8

9 Development Services Department STAFF REPORT Application for Home Occupation File Number: ZON-1058 Date: January 17, 2017 Applicant: Representative: Rafael & Nadina Padilla SAME Hearing Dates: Planning & Zoning Commission January 26, 2017 City Council February 2, 2017 Location: 5902 La Mesa St & Dawn Dr. APPLICATION SUMMARY Recommendation of the Planning & Zoning Commission and consideration (action) for City Council of a Home Occupation for an animal grooming business to be operated on the premises. This item was tabled at the August 25, 2016 meeting due to a noticing issue and again at the November 21, 2016 due to a lack of quorum on the issue. DEVELOPMENT REVIEW DEPARTMENT COMMENTS With Chapter 14, Article , Section 16 is the zoning requirements of a home occupation. A home occupation is defined as An accessory use of a dwelling unit for gainful employment involving the manufacture, assembly, provision or sale of goods and/or services. The accessory use is conducted entirely within the dwelling unit. The use is clearly incidental and secondary to the use of the dwelling for residence purposes and does not change the character thereof or adversely affect the uses permitted in the residential district of which it is a part. Any home occupation requires an application be filed with the City, review of applicable code requirements, and eventual approval or denial based on the Code. Within Chapter 14, Article , Section is a list of approvable uses for a home occupation in which the City can sign off, however there is a list of prohibited uses within Chapter 14, Article , Section where an application will be denied. In circumstances where uses are not directly listed as an approvable use or a deniable use it must go before the Planning & Zoning Commission for a recommendation and City Council for a consideration. When deciding on an unlisted use, use limitations within Chapter 14, Article , Section apply as well as the purpose and intent within Chapter 14, Article , Section This home occupation consists of using an existing mobile business van for dog grooming purposes. The applicant states they will pick up a client s animal in a separate vehicle, bring to the van for service, and take the animal to the customer before receiving the next client. This service would be in use from 8 AM to 5PM from 9

10 Tuesday Saturday. There are typically 7 appointments a day, for 35 people a week. An updated item to the packet from the applicant would limit to emergency situations such as generator failures or situations where it is dangerous to drive the van. USE LIMITATIONS (A) Such occupation shall be conducted solely by family members residing in the residence plus no more than one nonresident assistant or employee. (B) No more than twenty-five (25) percent of the gross living area of said residence shall be used for such purpose. Use of garage or accessory buildings for these purposes is discouraged. (C) No use shall require external structural alteration or involve construction features or the use of electrical or mechanical equipment that would change the fire rating of the structure. No alteration or change in the premises or building shall be made that will make, result in or cause the main structure to appear in any way to be anything but a residential dwelling unit. (D) There shall be no outside storage of any kind related to the home occupation. (E) There shall be no display of products or material visible in any manner from the outside of the dwelling. (F) No use shall create noise, dust, vibration, smell, smoke, flare, electrical interference, fire hazard, or any other hazard or nuisance to any greater or more frequent extent than that usually experienced in a residential zoned district. (G) No advertising, display or other signs shall be permitted on the premises. (H) No toxic, explosive, flammable, combustible, corrosive, etiologic, radioactive, or other restricted material is used or stored on the site. (I) No process is used which is in violation of any city, state or federal rule, regulation, or law. (J) No advertisement shall be placed in any media containing the address of the property if the business is one which involves traffic or customers to purchase goods or service. (K) Parking for home occupations: (1) The business shall not generate vehicular traffic requiring parking spaces beyond those normally allotted to residential use. 10

11 (2) Curbside or edge-of-street parking related to a home occupation is prohibited. PURPOSE AND INTENT In regards to unlisted uses not listed in the code, the purpose and intent of the regulations must be considered. As shown in Chapter 14, Article , Section 16.10, the purpose and intent of the home occupation regulations are stated below: Intent and Purpose. Traditionally certain occupational uses termed home occupation have been allowed in dwelling units. Such uses have been allowed largely on the basis that such uses are incidental to the use of the premises as a residence, that the nature of the home occupation use is such that it is compatible with residential neighborhoods, or that home occupation uses are of a highly professional nature involving the use of mental rather than physical capabilities and are therefore compatible with residential uses. (A) The above criteria defy precise definition or interpretation: Definition of home occupations by the above criteria has in some cases totally prohibited home occupations while in other instances allowed uses which markedly detract from the residential character of a neighborhood and thereby infringed upon the rights of surrounding residents. (B) It is recognized that certain limited home occupation uses can be useful to both the general community as well as the resident-proprietor. Also recognized is the difficulty of writing an ordinance dealing with home occupations in a middle-of-the-road fashion, which is neither discriminatory nor arbitrary. It is hoped that the citizens will recognize these difficulties and will not abuse the privileges granted within this section. (C) With the above in mind, it is the intent and purpose to provide for certain types of restricted occupational uses within residential zoning. Only such uses will be allowed which: (1) Are incidental to the use of the premises as a residence; (2) Are compatible with residential uses; and (3) Do not detract from the residential character of the neighborhood. (D) Home Occupations that are dependent on traffic of customers to purchase goods or services directly at the dwelling shall not be permitted within residentially zoned districts; provided, however, home occupations which normally generate minimal traffic such as, for example, tailors, seamstresses, accountants, consultants, locksmiths, etc. may be approved for residentially zoned districts. 11

12 STAFF ANALYSIS Staff believes the criteria of use limitation are met in Chapter 14, Article , Section it also believes the mobile dog grooming is in compliance with Chapter 14, Article , Section In particular it is stated no customers visit the single family home, no vehicles from customers are at the premises, although our code discourages garages being used, they are not prohibited by Code. There would be no issues relating to the detraction of the residential character of the neighborhood and any traffic generated by the business is of a minimal impact to the area. Staff would however suggest the following conditions: 1. Customers are limited to no more than 7 customers a day for a total of 35 a week. 2. This type of Use is only allowed during power failure or at times the National Weather Service has issued a Winter Storm Warning or Freeze Warning for the County. ATTACHMENTS Additional information is provided through attached exhibits. 1. Applicant Request 2. Site Plan 3. Maps 4. Responses to 200 notification as of January 17,

13 Attachment 1 Applicant Request 13

14 Applicant Information: CITY OF LAGO VISTA Conditional Use Permit Conditional Use Permit Fee: $ Name: RBfl\EL ct- ~fl-~ l\~ Address: SCf 62 JJ+- (\{EE>4 -St Telephone #: Si 2- C::, 2-~ 00~ -22- [, Request: Conditional Use Permit is being sought for: ~< ('vfd;l~. fuo~ ( Legal Description: _ (Subdivision) (Section) (Lot) Please attach a to-scale drawing of the improvements that would be provided. 14

15 Lake Mobile Dog Grooming 5902 La Mesa Dr. Lago Vista, TX /25/2016 David Harrell P.O. Box 4727 Lago Vista, TX Dear Mr. Harrell, We are requesting to utilize our residential property as a power source for our mobile dog grooming van in the city of Lago Vista. Our generators are making it impossible to run a reliable business and livelihood. Generators are a faulty power source, in the summer months especially, and we continue to run into the issue of them failing. This makes it impossible to complete our many clients for the day. We are requesting the ability to do a pick up and drop off service in which we would utilize our home's electricity as a power source. The mobile van would remain in our RV garage and we would pick up one client's dog(s) in an additional vehicle, bring them back to the van to groom, then return the animal home before moving on to the next client. There would only be one client's dog(s) at our residence at a time. We are asking for your support and approval today because our livelihoods are at stake. Without the ability to use our van at home we would be unable to continue our business. Not only is this imperative to us, but our service is a benefit to the whole community of Lago Vista as there is no other business like it. We are able to service the entire animal owning community with our business and have a huge clientele with about 300 clients. Without our business our clients could potentially have to drive out of town and into Cedar Park to get their dog(s) groomed. Allowing us to continue our business from our home would be a benefit for the community as well as for our livelihood and the ability to continue our business and live's in Lago Vista, a city that is near and dear to us. We are so appreciative of you taking the time to discuss this matter and we look forward to your thoughts on the subject. csf!pl Rafael & Nadya Padilla 15

16 From: To: Subject: Date: nadya padilla David Harrell Lake Mobile Dog Grooming Tuesday, July 19, :40:55 PM Dear Mr David Harrell, We recieved your letter with the following Questions. 1. Please provide additional information relating to your hours of operation. We work from 8am to 5pm 2. Provide documentation of number of people who use your service in a calendar week. We are not sure what kind of documentation you need? but as far as our calendar goes we usually have 7 appointments a Day, which is 35 people a week. We work Tuesday to Saturday with usually Sunday & Monday off. Hope this helps. We appriciate your time, and are available at any time to talk further. Thank you, Rafael & Nadya Padilla Lake mobile Dog Grooming

17 Hi Mr Harrell, We would like to proceed with the permit, to Continue doing our address 5902 la mesa st. We would like to clarify that we are simply requesting this as an Emergency situation, in the event of a generator failure or due to weather, where it becomes dangerous for us to drive our Van to the appointments of the day. This is very important to us and our customers who depend on our service being that normally we are booked up weeks ahead, it would be very inconvenient and financially damaging to have to stop working due to these circumstances. Our plan would be to simply pick up and drop off our clients dog using our personal vehicle, this would be a one at a time event. With No kennel like situation or traffic. Rafael and Nadya Padilla Lake mobile dog grooming. 17

18 Attachment 2 Site Plan 18

19 Feet ee---3=:3::::=:e&-d=::t::=:=:=:=:::1==:======~========::::ll. : NO I I oo Cit;,.,.., Ota loz z- I I L ,.. ' -,- I I I,. ' -,- I I I I I L - \... I ",, r 7,, - f,i N 29' t 9' 42" E l.29.98' (N 29'25'00" E ') &------==--==---:(-:5,-P-. U-. E~. )~:_-=_-5-.-E-.E- "., E.Lff R.l119 / oq- I~~ ~~-... W NC'l ::i I a:: ~ a.: ~I"") a C! in wffi ci Cl. e 1~~,.,..,..--..w.. ~ ~1?. Ll"I... ~ 00 ~ - - ~LS"). ~t/1 ~I~ c::::i(.,;) z ;:I~. -P-ER /-2-29-~8 ~ 5' P.U.E. & D.E. PER 2177/247 l ~I LOT 1 BLOCK D WOOD STORAGE I I,,. ' -, / I I L. - \... I " r -,, - l - f '... N 29'22'09" E ' (N 29'25'00" E ') 5' P.U.E. LOT 2 BLOCK D,. ' -,- / I I '_,. I I I!.. I',... \ \... - l~~i I~ I, ' -,-,. ' I I I < L - \ "" I \"' / DETAIL: ""' I \ I ) (s 44 \ / "' s 44 <Boo" -- SJ)J" 15 w -65).... IS.S9 Notes: 1.) Subject to restrictions and easement rights as stated in: 2177 /247; 7616/304; Doc. No ; & and per plot in Vol. 11, Pg ) Electric easement as stated in 838/94 contains insufficient data to locate. LEGEND -<:)- 1/2" IRON PIPE: FOUND e 1/2" RE:BAR FOUND --fl-- WOOD FE:NCE: B.L. BUILDING LINE: P.U.. PUBLIC UTILITY E:ASE:ME:NT D.E:. DRAINAGE: E:ASE:ME:NT ( ) PE:R PLAT -e. POWE:R POLE: O.H. OVE:RHE:AD UTILITIE:S C.M. CONTROL MONUME:NT R.O.W. RIGHT OF WAY.. E:LE:CTRIC E:ASE:ME:NT "' "' "' SUBOMSION L_A_GO_V_IS_TA_.._S_E_C_TIO_N_TW_0.;.~ , ) LOT: 1&2 BLOCK: 0 VOLUME 11 PAGE 45 PLAT RECORDS COUNIY: TRAVIS STATE Of TEXAS STREET ADDRESS 5902 LA MESA & DAWN DRIVE CllY: ~ AUSTIN B&G Surveying, Inc. Victor M. Garza R.P.L.S. Office 512* Fox 512* West North Loop Blvd. Austin, Texos REFERENCE NAME EBO RAH KAY HAIR THIS AREA IS NOT DEPICTED AS BEING IN A SPECIAL FLOOD HAZARD AREA PER FEMA'S FLOOD INSURANCE RATE MAP 0803 F DATED 4/15/02. IT IS REPRESENTED AS IN ZONE "X". HOWEVER AT PRESENT TIME, NO ELEVATIONS, DRAINAGE, OR FLOOD STUDIES HAVE BEEN PERFORMED AND INFORMATION IS BASED SOLELY UPON SAID MAP. THE SURVEYOR DOES NOT ASSUME RESPONSIBILITY AS TO ANY INFORMATION PROVIDED BY SAID MAP AND DOES NOT IMPLY THAT THE PROPERTY AND/OR THE STRUCTURES THEREON WILL BE FREE OF FLOOD DAMAGE. FOR FURTHER INFORMATION CONTACT YOUR FLOOD PLAIN ADMINISTRATOR. LDER AND / OR PRESENT OWNERS OF THE PREMISES SURVEYED AND TO GRACY TITLE COMPANY JOSLTBLK STEWART TITLE GUARANTY COMPANY FIELD WORK CHRIS 05/05/0B DATE 05/06/08 I DO HEREBY C RTIFY TO THOSE LISTED HEREON THAT THIS SURVEY WAS THIS CALCULATIONS JUAN. 05/06/08 TITLE CO GRACY DAY MADE ON THE GROUND, UNDER MY SUPERVISION, OF THE PROPERTY LEGALLY DRAFTING jose 0'5/06/0B FINAL CHECK M.L. 05/07/08 G F # DESCRIBED HEREON, IS PREPARED IN ACCORDANCE TO THE TITLE COMMITMENT.. REFERENCED HEREON, AND THAT THERE ARE NO VISIBLE BOUNDARY LINE JOB # B _ TA CONFLICTS, ENCROACHMEt-!TS OVERLAPPING OF IMPROVEMENTS, OR ROADS IN SCALE 1 "= 30' PLACE, EXCEPT AS SHOW':' HEREON. CORRECTION JOSE 05/07/08 UP DATE 19

20 Attachment 3 Maps 20

21 C I M M A R O N!( 11!( 10!( 9!( 12!( 13!( 8!( 7!( 6!( 14!( 15!( 16 L A M E S A!( 5!( 4!( 17!( 18 T H U N D E R B I R D!( 19 D A W N!( 20!( 21!( 22!( 23!( 3!( 2!( 1!( µ1 inch = 100 feet Request Type: Change Requested: Map Purpose: 5902 La Mesa Home Occupation Dog Grooming 200 ft Buffer Map Project: Date: Drawn By: While every effort has been made to ensure the accuracy of this data, this map is to be used for reference purposes only. This data should not be construed as a surveyinstrument. No responsibility is assumed by the author for damages or other liabilities due to the accuracy, availability, completeness, use or misuse of the information herein provided. This document was made on 8.5 x 11 paper. If it appears otherwise, please scale accordingly. ZON CM Legend Requestor Owner Parcels 200' Buffer CityLimits 21

22 920 C I M M A R O N 940 L A M E S A T H U N D E R B I R D D A W N µ1 inch = 100 feet Request Type: Change Requested: Map Purpose: 5902 La Mesa Home Occupation Dog Grooming Aerial & Contour Map Project: Date: Drawn By: ZON While every effort has been made to ensure the accuracy of this data, this map is to be used for reference purposes only. This data should not be construed as a surveyinstrument. No responsibility is assumed by the author for damages or other liabilities due to the accuracy, availability, completeness, use or misuse of the information herein provided. CM Legend 20' Contours Requestor Owner Parcels 22 This document was made on 8.5 x 11 paper. If it appears otherwise, please scale accordingly.

23 C I M M A R O N L A M E S A T H U N D E R B I R D D A W N µ1 inch = 100 feet Request Type: Change Requested: Map Purpose: 5902 La Mesa Home Occupation Dog Grooming Future Land Use Map Project: Date: Drawn By: While every effort has been made to ensure the accuracy of this data, this map is to be used for reference purposes only. This data should not be construed as a surveyinstrument. No responsibility is assumed by the author for damages or other liabilities due to the accuracy, availability, completeness, use or misuse of the information herein provided. This document was made on 8.5 x 11 paper. If it appears otherwise, please scale accordingly. ZON CM Legend Requestor Owner Parcels Future Land Use Low Density Residential High Density Residential Commercial Public/Semi Public CityLimits 23

24 C I M M A R O N L A M E S A T H U N D E R B I R D D A W N µ1 inch = 100 feet Request Type: Change Requested: Map Purpose: 5902 La Mesa Home Occupation Dog Grooming Zoning Map Project: Date: Drawn By: While every effort has been made to ensure the accuracy of this data, this map is to be used for reference purposes only. This data should not be construed as a surveyinstrument. No responsibility is assumed by the author for damages or other liabilities due to the accuracy, availability, completeness, use or misuse of the information herein provided. This document was made on 8.5 x 11 paper. If it appears otherwise, please scale accordingly. ZON CM Legend Requestor Owner Parcels Zoning Class C-1A R-1D R-4 U-1 CityLimits 24

25 Attachment 4 Responses to 200' Notification as of January 17,

26 City of Lago Vista Development Services 5803 Thunderbird Ste.103 PO Box 4727 Lago Vista, TX (512) Office (512) Fax RECE\VEU AUG \6 Per----- ID# 17 SITE: DAWN DR ASGARI AHMAD & TAMILA NIKAZM 5201 RIDGE OAK DR AUSTIN TX Notice of Public Hearing The Lago Vista Planning and Zoning Commission will hold a Public Hearing on August 25, 2016 at 7:00 PM in the Council Chambers at City Hall, located at 5803 Thunderbird St., Lago Vista, Texas to receive citizen input on the following with possible action to be taken: ZON Recommendation by the Planning & Zoning Commission of a Conditional use to allow for a home occupation for a mobile animal grooming drop off service at 5902 La Mesa. You are receiving this notice because you own property within 200 feet of the area proposed for rezoning. All interested persons are invited to attend. If you are unable to attend but wish to comment, please list your comments below and return to the address above. You may return this form with comments below. In favor Opposed Comments: All interested persons are invited to attend. 26

27 City of Lago Vista Development Services 5803 Thunderbird Ste.103 PO Box 4727 Lago Vista, TX (512) Office (512) Fax ID# 13 SITE: 6001 LA MESA TULLY TAMMY 6001 LA MESA ST LAGO VISTA TX Notice of Public Hearing The Lago Vista Planning and Zoning Commission will hold a Public Hearing on August 25, 2016 at 7:00 PM in the Council Chambers at City Hall, located at 5803 Thunderbird St., Lago Vista, Texas to receive citizen input on the following with possible action to be taken: ZON Recommendation by the Planning & Zoning Commission of a Conditional use to allow for a home occupation for a mobile animal grooming drop off service at 5902 La Mesa. You are receiving this notice because you own property within 200 feet of the area proposed for rezoning. All interested persons are invited to attend. If you are unable to attend but wish to ~<?mment, please list your comments below and return to the address above. You may return this form with comments below. GZ1 In favor D Opposed Comments: I (,u or k:c,,,?.. rc2~ -fheic All interested persons are invited to attend. 27

28 10#7 ROYER MICHAEL K & MARLENE M 6003 CIMMARON TRL LAGO VISTA TX City of Lago Vista Development Services 5803 Thunderbird Ste.103 PO Box Lago Vista, TX (512) Office (512) Fax D RECEIVE SITE: 6003 CIMMARON TRL AUG Per Notice of Public Hearing The Lago Vista Planning and Zoning Commission will hold a Public Hearing on August 25, 2016 at 7:00 PM in the Council Chambers at City Hall, located at 5803 Thunderbird St., Lago Vista, Texas to receive citizen input on the following with possible action to be taken: ZON Recommendation by the Planning & Zoning Commission of a Conditional use to allow for a home occupation for a mobile animal grooming drop off service at 5902 La Mesa. You are receiving this notice because you own property within 200 feet of the area proposed for rezoning. All interested persons are invited to attend. If you are unable to attend but wish to comment, please list your comments below and return to the address above. You may return this form with comments below. In favor Opposed Comments: L All interested persons are invited to attend. 28

29 City of Lago Vista Development Services 5803 Thunderbird Ste.103 PO Box 4727 Lago Vista, TX (512) Office (512) Fax ID# 11 SITE: 6000 LA MESA WILSON WILLIAM L & ORINDA L 6000 LA MESA ST LAGO VISTA TX Notice of Public Hearing The Lago Vista Planning and Zoning Commission will hold a Public Hearing on August 25, 2016 at 7:00 PM in the Council Chambers at City Hall, located at 5803 Thunderbird St., Lago Vista, Texas to receive citizen input on the following with possible action to be taken: ZON Recommendation by the Planning & Zoning Commission of a Conditional use to allow for a home occupation for a mobile animal grooming drop off service at 5902 La Mesa. You are receiving this notice because you own property within 200 feet of the area proposed for rezoning. All interested persons are invited to attend. If you are unable to attend but wish to comment, please list your comments below and return to the address above. You may return this form with comments below. ~ In favor $ J{/..;f,#1--- D Opposed / Comments: All interested persons are invited to attend. 29

30 Mailing ID # 11 Property Location: 6003 CIMMARON TRL ROYER MICHAEL K & MARLENE M 6003 CIMMARON TRL LAGO VISTA, TX City of Lago Vista Development Services 5803 Thunderbird St. P.O. Box 4727 Lago Vista, TX (512) Office (512) Fax Notice of Public Hearing The Planning & Zoning Commission will recommended (ZON-1058) a conditional use to allow for a home occupation for a mobile animal grooming service located at 5902 La Mesa & Dawn Dr. with public hearing to be held at 7:00 P.M. on November 21, 2016 at Council Chambers, City Hall, located at 5803 Thunderbird St., Lago Vista, TX The City Council will make a consideration (ZON-1058) of a conditional use to allow for a home occupation for a mobile animal grooming service located at 5902 La Mesa & Dawn Dr. with public hearing to be held at 6:30 P.M. on December 1, 2016 at K-Oaks Clubhouse located at 8000 Bar K Ranch Rd., Lago Vista, TX You may return this form with comments below. tt1 ~In favor D Opposed Signed: 30

31 DEC 0 )

32 City of Lago Vista Development Services 5803 Thunderbird St. P.O. Box 4727 Lago Vista, TX (512) Office (512) Fax RECE\\IED DEC O S 20\6 ~ per Mailing ID # 14 Property Location: DAWN DR MILLARD ELIZABETH ROSE POBOX4403 LAGO VISTA, TX Notice of Public Hearing The Planning & Zoning Commission will recommended (ZON-1058) a conditional use to allow for a home occupation for a mobile animal grooming service located at 5902 La Mesa & Dawn Dr. with public hearing to be held at 7:00 P.M. on November 21, 2016 at Council Chambers, City Hall, located at 5803 Thunderbird St., Lago Vista, TX The City Council will make a consideration (ZON-1058) of a conditional use to allow for a home occupation for a mobile animal grooming service located at 5902 La Mesa & Dawn Dr. with public hearing to be held at 6:30 P.M. on December 1, 2016 at K-Oaks Clubhouse located at 8000 Bar K Ranch Rd., Lago Vista, TX You may return this form with comments below. In favor Opposed Signed: Printed Name: /-;}-;; /; ~ 32

33 Mailing ID # 7 Property Location: 6000 LA MESA WILSON WILLIAM L & DRINDA L 6000 LA MESA ST LAGO VISTA, TX City of Lago Vista Development Services 5803 Thunderbird St. P.O. Box 4727 Lago Vista, TX (512) Office (512) Fax Notice of Public Hearing The Planning & Zoning Commission will make a consideration (ZON-1058) of a conditional use to allow for a home occupation for a mobile animal grooming drop off service located at 5902 La Mesa & Dawn Dr. with public hearing to be held at 7:00 P.M. on January 26, 2017 in Council Chambers, City Hall, located at 5803 Thunderbird St., Lago Vista, TX The City Council will make a consideration (ZON-105 8) of a conditional use to allow for a home occupation for a mobile animal grooming drop off service located at 5902 La Mesa & Dawn Dr. with public hearing to be held at 6:30 P.M. on February 2, 2017 in the Council Chambers, City Hall, located at 5803 Thunderbird St., Lago Vista, Texas, TX ~~return this form with comments below. L0" In favor D Opposed Comments: Signed: Printed Name: --"'-])_,_c~' &~J...,0;'""'-.-=----=L;_._L,,_J--'1_l_.s._o_AJ (poo L,vM.P sit L. v. 1 t7<... '}i-c:,l/s: JGd I.', S 0 ( ~ 'tf 33 r j

34 Mailing ID # 1 Property Location: DAWN DR ASGARI AHMAD & TAMILA NIKAZM 5201 RIDGE OAK DR AUSTIN, TX City of Lago Vista Development Services 5803 Thunderbird St. P.O. Box 4727 Lago Vista, TX (512) Office (512) Fax Notice of Public Hearing The Planning & Zoning Commission will make a consideration(zon-1058) of a conditional use to allow for a home occupation for a mobile animal grooming drop off service located at 5902 La Mesa & Dawn Dr. with public hearing to be held at 7:00 P.M. on January 26, 2017 in Council Chambers, City Hall, located at 5803 Thunderbird St., Lago Vista, TX The City Council will make a consideration (ZON-1058) of a conditional use to allow for a home occupation for a mobile animal grooming drop off service located at 5902 La Mesa & Dawn Dr. with public hearing to be held at 6:30 P.M. on February 2, 2017 in the Council Chambers, City Hall, located at 5803 Thunderbird St., Lago Vista, Texas, TX You may return this form with comments below. In favor Opposed Comments: Signed: A '~ ' J 0\J-- Printed Name: Ali WtfLd A5C]"-r; fa/4/l.~/u_ M br. ~vvj 34

35 MEETING DATE: February 2, 2017 AGENDA ITEM: Presentation and discussion of the Vista Bella and Panorama Pointe applications to the Texas Department of Housing and Community Affairs for the 2017 competitive housing tax credits. Comments: Motion by: Seconded by: Content of Motion: Vote: Tippetts ; Sullivan ; Tidwell ; R. Smith ; Mitchell ; S. Smith ; Bland Motion Carried: Yes ; No 35

36 AGENDA ITEM City of Lago Vista To: Mayor & City Council Council Meeting: February 2, 2017 From: David Harrell, AICP, Development Services Director Subject: RESOLUTION : A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF LAGO VISTA, TEXAS SUPPORTING KCG VISTA BELLA, LP, ITS SUCCESSORS, ASSIGNS OR AFFILIATES, IN SUBMITTING AN APPLICATION TO THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS FOR A 2017 COMPETITIVE 9% HOUSING TAX CREDITS FOR THE CREATION OF VISTA BELLA. Request: Business Item Legal Document: Resolution Legal Review: EXECUTIVE SUMMARY: A developer wishes to submit an application with the State in order to receive a nine percent (9%) housing tax credit for creation of an apartment complex geared towards affordable housing. This proposed complex would consist of between sixty (60) - seventy-two (72) apartment of which twenty-eight (28) to forty (40) units would be market rate. The target will be 30%, 50%, and 60% of median income. The tax credit will be used to offset potential costs associated with the construction of the apartment complex. The proposed location of the apartment complex will be located at the Boggy Ford Rd. This is presently vacant land. The approval of this Resolution signifies the City supports the application for the housing tax credits only and does not signify any other support. In order to develop this project it may require a Comprehensive Plan Map Amendment to change the Future Land Use Plan from High Density Residential to Medium Density Residential. This item would require public hearings and notice to the public. The applicant has provided a Power Point presentation to provide more information and this has been attached to the packet. 36

37 Impact if Approved: The applicant will have City support in submitting the application to the State. Impact if Denied: The applicant will NOT have City support in submitting the application to the State. This MAY impact whether the applicant can secure the housing tax credits to build the project. Is Funding Required? Yes No If Yes, Is it Budgeted? Yes No N/A Indicate Funding Source: N/A Suggested Motion/Recommendation/Action Motion to: Motion to: Motion to: Approve Resolution Deny Resolution Table Resolution Known As: RESOLUTION : A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF LAGO VISTA, TEXAS SUPPORTING KCG VISTA BELLA, LP, ITS SUCCESSORS, ASSIGNS OR AFFILIATES, IN SUBMITTING AN APPLICATION TO THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS FOR A 2017 COMPETITIVE 9% HOUSING TAX CREDITS FOR THE CREATION OF VISTA BELLA. Agenda Item Approved by City Manager 37

38 Vista Bella Apartments 38

39 Vista Bella Overview Company / Developer Lago Vista Community Development Overview Work-force Housing and LIHTC Timeline and Support Photos 39

40 DEVELOPER KCG Development formed in September 2015 Regional offices in Texas, Florida, and Indiana (corporate) Over 30 years combined experience in developing multifamily housing Over 3,000 residential units and $500M in total development costs/investments Partnered with Capstone Property Management to provide excellence for the best interests of the residents 40

41 COMMUNITY 41

42 LAGO VISTA Lago Vista s 2030 Comprehensive Plan Lago Vista s family population is growing and there is a demand for the younger population to be able to live and work in the City. Need rooftops at all income levels to attract and retain businesses and their employees Living where you work allows for better Life-Work balance Shorter commutes, more time with family, etc. Built to the highest standards and cohesive with surrounding community Improves the tax basis (estimated $45,000 annually stabilized) 42

43 DEVELOPMENT OVERVIEW 43

44 SITE LOCATION 10 acre Site is already zoned MultiFamily (R4)!! ~ 2 miles to High School and Elementary School Not on busy Lohman Ford Road Close proximity to downtown Beautiful views of the lake 44

45 RESIDENT PROFILE Population and Income Requirements No age restrictions Proposed Unit Mix (60-72 units) 29-1br / 1ba 40-2br / 2ba 3 3br / 2ba Income Set-Asides 32 units at Market Rate 3 30% of AMGI* ($16K to $23K income) 9 50% of AMGI ($27K to $39K income) 28 60% of AMGI ($32K to $47K income) Screening and Eligibility Requirements for Tenants Rental History must be a good tenant Credit History must be employed/have income and not be a default risk Criminal Background cannot have felony, violent crime or past drug history * AMGI = Area Median Gross Income $77,800 for entire Austin MSA 45

46 RESIDENTS Who Will Live Here? Leasing guidelines require that residents must be employed and have income Who? Teachers, day-care, first-responders, city administrators Clerks, salespeople, cashiers Restaurant managers, staff Current job opportunities posted on City of Lago Vista website many would income qualify See Lago Vista proposed budget for employee salaries many would income qualify 46

47 COMMUNITY FEATURES ~3,000 sf community center Professionally landscaped Full perimeter fence Common laundry facility BBQ grills and picnic tables Swimming pool Equipped fitness center Equipped business center w/ computers and printers Furnished community room Kids playscape Enclosed dog park Leasing office w/full-time manager Partner with local non-profits for tenant services Property sponsored monthly activities and services Tax preparation assistance Instructor led fitness classes Clubs Movie nights / pot-luck dinners Outings 47

48 UNIT FEATURES Washer/Dryer connections Screens on all operable windows Garbage Disposals and Energy Star refrigerator and dishwasher Blinds or window coverings for all windows Ceiling Fans in living room and bedrooms Faux wood flooring and carpet Patio or balcony Nicely sized: 1br = 750sf 2br = 965sf 3br = 1,120sf 48

49 WORK FORCE HOUSING and LIHTC 49

50 WORK FORCE HOUSING Provides housing for employed, hard working lower income families Per-Capita income in Lago Vista is $41,185 (Source: US Census Bureau) Income limits and corresponding rent limits are defined by HUD Annual $32,700 = $15.72/hour Minimum wage = $7.25/hour $15,080 annually 50

51 LIHTC (Low Income Housing Tax Credits) Means of getting private investment dollars towards development of affordable housing LIHTC program is funded by the U.S. Treasury and overseen by the IRS Provides a source of equity financing towards development of affordable housing it reduces conventional debt and allows for lower rents State Agency (TDHCA) routinely inspects and monitors all funded properties for up to 40 years 51

52 TIMELINE and SUPPORT 52

53 OVERALL TIMING Pre-applications due January 9 th Full applications due March 1 st Resolutions of Support from municipalities required Commitment of funding required TDHCA releases final scoring June TDHCA board approves final LIHTC awards late July 3 rd Q 2017 Submittal of final Construction Plans (site and building) to City of Lago Vista 4 th Q 2017 Close on Financing, Equity and Land 1 st Q 2018 Begin Construction 2 nd Q 2019 Complete Construction 53

54 REQUEST FOR CITY SUPPORT 9% HTC Applications Require City support in two forms Resolution from City of Lago Vista supporting the development of Vista Bella A letter from city official stating a commitment of funding Fee reduction or waiver (permit, plat, site development, application, etc.) Letter must state the following: Value of the contribution Form of the contribution Any caveats to contribution 54

55 PHOTOS 55

56 Representative Projects 56

57 57

58 CITY OF LAGO VISTA, TEXAS RESOLUTION A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF LAGO VISTA, TEXAS SUPPORTING KCG VISTA BELLA, LP, ITS SUCCESSORS, ASSIGNS OR AFFILIATES, IN SUBMITTING AN APPLICATION TO THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS FOR A 2017 COMPETITIVE 9% HOUSING TAX CREDITS FOR THE CREATION OF VISTA BELLA. WHEREAS, KCG VISTA BELLA, LP, its successors, assigns or affiliates, has proposed a development for affordable rental housing at Boggy Ford Road named Vista Bella in the City of Lago Vista; and WHEREAS, KCG VISTA BELLA, LP, its successors, assigns or affiliates has advised that it intends to submit an application to the Texas Department of Housing and Community Affairs for 2017 Competitive 9% Housing Tax Credits for Vista Bella NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LAGO VISTA, TEXAS: THAT, the City of Lago Vista, acting through its governing body, hereby confirms that it supports the proposed Vista Bella apartments located at Boggy Ford Road, Lago Vista, TX, and that this formal action has been taken to put on record the opinion expressed by the City of Lago Vista on February 2, 2017, and RESOLVED, the Development Services Department will provide a $10.00 permit fee reduction on the Site Development Application for the benefit of Vista Bella apartments, located at Boggy Ford Road, provided the Council approves this Resolution and the partnership is awarded the 2017 Competitive 9% Housing Tax Credits by the Texas Department of Housing and Community Affairs, and FURTHER RESOLVED, that for and on behalf of the Governing Body, Dale Mitchell, Mayor, are hereby authorized, empowered, and directed to certify these resolutions to the Texas Department of Housing and Community Affairs, and AND, IT IS SO RESOLVED. PASSED AND APPROVED this 2 nd day of February, Attest: Dale Mitchell, Mayor Sandra Barton, City Secretary On a motion by Council Member, seconded by Council Member, the above and foregoing instrument was passed and approved. 58

59 AGENDA ITEM City of Lago Vista To: Mayor & City Council Council Meeting: February 2, 2017 From: David Harrell, AICP, Development Services Director Subject: RESOLUTION : A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF LAGO VISTA, TEXAS SUPPORTING PANORAMA POINTE LP IN SUBMITTING AN APPLICATION TO THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS FOR A 2017 COMPETITIVE 9% HOUSING TAX CREDITS FOR THE CREATION OF PANORAMA POINTE. Request: Business Item Legal Document: Resolution Legal Review: EXECUTIVE SUMMARY: A developer wishes to submit an application with the State in order to receive a nine percent (9%) housing tax credit for creation of an apartment complex geared towards seniors (age 55 and older). This proposed complex will consist of forty-two (42) apartments of which twenty-eight (28) will be for persons of lower income for a set number of years. The target will be 30%, 50%, and 60% of median income. The tax credit will be used to offset potential costs associated with the construction of the apartment complex. The proposed location of the apartment complex will be located at the NW corner of Lohman Ford Rd. and Panorama Ridge. There is presently an old quarry site at that location. The approval of this Resolution signifies the City supports the application for the housing tax credits only and does not signify any other support. In order to develop this project it will require a Comprehensive Plan Map Amendment to change the Future Land Use Plan from Regional Retail/Office/Commercial to either a Medium or High Density Residential. It would also require a PDD modification to allow for the proposed apartments. Both of these items would require public hearings and notice to the public. However Staff does have concerns about traffic related issues due to the road layouts in the area. It is suggested the Council require a Traffic Impact Analysis at the time of the Site Development Application to see if improvements are needed at the site. The applicant has provided a Power Point presentation to provide more information and this has been attached to the packet. They have also provided additional pages of information for Council to review. 59

60 Impact if Approved: The applicant will have City support in submitting the application to the State. Impact if Denied: The applicant will NOT have City support in submitting the application to the State. This MAY impact whether the applicant can secure the housing tax credits to build the project. Is Funding Required? Yes No If Yes, Is it Budgeted? Yes No N/A Indicate Funding Source: N/A Suggested Motion/Recommendation/Action Motion to: Motion to: Motion to: Approve Resolution Deny Resolution Table Resolution Known As: Resolution A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF LAGO VISTA, TEXAS SUPPORTING PANORAMA POINTE LP IN SUBMITTING AN APPLICATION TO THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS FOR A 2017 COMPETITIVE 9% HOUSING TAX CREDITS FOR THE CREATION OF PANORAMA POINTE. Agenda Item Approved by City Manager 60

61 CITY OF LAGO VISTA, TEXAS RESOLUTION A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF LAGO VISTA, TEXAS SUPPORTING PANORAMA POINTE LP IN SUBMITTING AN APPLICATION TO THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS FOR A 2017 COMPETITIVE 9% HOUSING TAX CREDITS FOR THE CREATION OF PANORAMA POINTE. WHEREAS, Panorama Pointe, LP has proposed a development for affordable senior rental housing at 6601 Panorama Ridge named Panorama Pointe in the City of Lago Vista; and WHEREAS, Panorama Pointe LP has advised that it intends to submit an application to the Texas Department of Housing and Community Affairs for 2017 Competitive 9% Housing Tax Credits for Panorama Pointe NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LAGO VISTA, TEXAS: THAT, that the City of Lago Vista, acting through its governing body, hereby confirms that it supports the proposed Panorama Pointe located at 6601 Panorama Ridge, Lago Vista, TX, and that this formal action has been taken to put on record the opinion expressed by the City of Lago Vista on January 19, 2017, and RESOLVED, the Development Services Department will provide a $10.00 permit fee reduction on the Site Development Application for the benefit of Panorama Pointe apartments, located at 6601 Panorama Ridge, provided the Council approves this Resolution and the partnership is awarded the 2017 Competitive 9% Housing Tax Credits by the Texas Department of Housing and Community Affairs, and FURTHER RESOLVED, that for and on behalf of the Governing Body, Dale Mitchell, Mayor, are hereby authorized, empowered, and directed to certify these resolutions to the Texas Department of Housing and Community Affairs. AND, IT IS SO RESOLVED. PASSED AND APPROVED this 2 nd day of February, Attest: Dale Mitchell, Mayor Sandra Barton, City Secretary On a motion by Council Member, seconded by Council Member, the above and foregoing instrument was passed and approved. 61

62 COMPANY OVERVIEW DEVELOP BUILD MANAGE INVEST QUALITY HOUSING WHERE OUR FAMILIES WOULD BE PROUD TO LIVE. JES Holdings is a privately-held family of companies with more than 800 employees. Since our beginning in 1984, our expertise has grown from affordable multi-family and senior housing communities to include skilled nursing care centers, market-rate apartment and loft communities, historic renovations and market rate independent senior living communities. Our growth is the result of our commitment to creating partnerships through which we strive to serve each client s specific need with integrity, timeliness and unmatched professionalism. Senior 56% Market Rate 3% Family 41% JES Holdings, LLC and it s affiliate companies are under the direction of our leadership team, including: Jeff Smith President & CEO Monica Swoboda Executive Vice President Will Markel Executive Vice President JES Dev Co, Inc.

63 AFFORDABLE EQUITY PARTNERS, INC. Affordable Equity Partners, Inc. (AEP) provides a full range of investment banking services. For over 30 years, AEP has invested in nearly 20,000 homes in 500 communities. We serve the growing need for affordable housing across 13 states in 76 cities. We have successfully syndicated over $3 billion in tax credits to build or preserve homes for working class families and seniors. In 2016 AEP Syndicated credits for 15 developments totaling $91,540,990 in Federal Credits and $68,276,350 in State Credits. In order to safeguard investment, AEP s asset management team plays an important role during the life of each asset within the AEP portfolio. Asset management is responsible for monitoring each asset from the time of closing at the property level through its disposition following the expiration of the tax credit compliance period. The lease-up team facilitates aggressive lease-up efforts that begin up to 120 days prior to construction completion and acts as an auxiliary partner to the existing management company to secure residents for occupancy and ensure lease-up compliance. JES DEV CO, INC Founded in 1994, JES Dev Co, Inc. is an acknowledged leader in the development of affordable multifamily housing. JES Dev Co, Inc. specializes in identifying profitable opportunities by analyzing market projections, measuring market strength, and surveying community leaders and government officials. Since 1994, JES Dev Co, Inc., has completed over 135 developments in more than 60 small and mid-sized communities, as well as larger metropolitan areas by transforming developer and investor ideas into reality. Specifically in the state of Texas, JES Dev Co, Inc. has developed Settlement Estates & Riverwood Commons, both located in Bastrop, TX and Hidden Glen, located in Salado, TX. In 2016, JES Dev Co, Inc. was awarded Bluff View Senior Village in Crandall, TX with an expected completion date in December JES Dev Co, Inc.

64 T E X A S P O R T F O L I O SETTLEMENT ESTATES Bastrop, Texas 70 Garden-Style Senior Units (32) One Bedroom Units Sq. Ft. Starting at $538 (38) Two Bedroom Units Sq. Ft. Starting at $637 RIVERWOOD COMMONS Bastrop, Texas 36 Senior Units Located in a Three-Story Building (11) One Bedroom Units Sq. Ft. Starting at $528 (25) Two Bedroom Units Sq. Ft. Starting at $644 HIDDEN GLEN Salado, Texas 50 Garden-Style Senior Units (15) One Bedroom Units Sq. Ft. Starting at $565 (35) Two Bedroom Units Sq. Ft. Starting at $665 BLUFF VIEW SENIOR VILLAGE Crandall, Texas COMING SOON! Under Construction - Expected Completion in December Senior Units Located in a Three-Story Building (includes 15 market rate units) (15) One Bedroom Units Sq. Ft. (33) Two Bedroom Units to 925 Sq. Ft JES Dev Co, Inc.

65 FAIRWAY CONSTRUCTION CO, INC Since 1984, Fairway Construction Co., Inc. (FWC) has emerged as a leading contractor in the housing industry. The quality of our product reflects our commitment to excellence and efficiency. From 2010 to 2015 FWC Completed 30 jobs with a total contract amount of $161,922,370. Fairway Construction Co., Inc. (FWC) was founded in 1984 to provide construction services for JES Holdings, LLC. Throughout the years, Fairway Construction s expertise has grown from building affordable multi-family housing communities to include the construction of skilled nursing care centers, market-rate apartment communities, residential lofts, the rehabilitation of historic properties and conventional senior memory care facilities. Due to our reputation for consistently completing quality developments on time and within budget, FWC has expanded to add third-party construction developments and provides project management and consulting services for numerous developers. FWC offers a wide range of services to assist our clients from pre-construction through completion. FAIRWAY MANAGEMENT, INC. Fairway Management, Inc. (FWM) provides management and compliance services for a portfolio of 160 properties with approximately 7,500 units including Section 42, Section 8, Section 236, rural development and market rate communities. FWM has more than 20 years of experience in affordable housing and provides valuable tax credit management consulting services offering an experienced team of management, accounting, and compliance professionals. FWM keeps average occupancy consistently at 97% across our portfolio JES Dev Co, Inc.

66 PANORAMA POINTE Lago Vista, TX 66

67 OVERVIEW Company Overview Community Unit Features & Tenant Profile Low-Income Housing Tax Credits Process 67

68 COMPANY OVERVIEW 68

69 DEVELOPER Over 20 years experience developing affordable multi-family housing Developed 135 apartment communities with over 4,300 residential units Three communities in Central Texas and a fourth under development in North Texas. 69

70 GENERAL CONTRACTOR 30 years experience Over 135 apartment communities Over 4,500 apartment units Over $375,000,000 construction value 70

71 PROPERTY MANAGER Over 20 years of experience Currently manages over 7,500 apartment units throughout the south and southwest. 170 apartment communities under management Overall portfolio occupancy of 97% 71

72 SYNDICATOR Provides a full range of services for developers and investors in the Section 42 LIHTC Program. More than 400 tax credit developments and has never had a foreclosure or credit recapture. Syndicated over $3 billion in Federal and State Tax Credits. 72

73 COMMUNITY 73

74 TEXAS COMMUNITIES COMING SOON! Settlement Estates Riverwood Commons Hidden Glen Bluff View Senior Village 70 Garden- Style Senior Units (32) One Bedroom Units 651 Sq. Ft. (38) Two Bedroom Units 859 Sq. Ft. 36 Senior Units Located in a Three-Story Building (11) One Bedroom Units 725 Sq. Ft. (25) Two Bedroom Units 935 Sq. Ft. 50 Garden- Style Senior Units (15) One Bedroom Units 700 Sq. Ft. (35) Two Bedroom Units 850 Sq. Ft. 48 Senior Units Located in a Three-Story Building (15) One Bedroom Units 710 Sq. Ft. (33) Two Bedroom Units 893 to 925 Sq. Ft. 74

75 SITE LOCATION 75

76 SITE PLAN 76

77 EXTERIOR DESIGN Recent properties completed by the proposed development team. 77

78 COMMUNITY FEATURES 1,500 sq. ft. common building Community lounge Community kitchen Fitness center Computer lab Laundry facility Community garden Gazebo with BBQ grills Leasing office w/ full-time manager 78

79 COMMON SPACE FINISHES Recent property completed by the proposed development team. 79

80 UNIT FEATURES & TENANT PROFILE 80

81 RESIDENTIAL UNIT FEATURES Unit Mix and Rents 13 one-bedroom units 29 two-bedroom units Rents range from $360/mo - $1,100/mo Unit Features Full kitchen with energy-stay appliances Ceiling fans in living room and bedrooms Washer/Dryer connections Carpet and vinyl flooring 81

82 TENANT PROFILE Age and Income Requirements Age restricted units set aside for residents at $16K - $18K 6 units set aside for residents at $27K - $31K 18 units set aside for residents at $32K - $37K 15 units unrestricted Screening Requirements Rental history Credit history Criminal Background 82

83 UNIT MIX & RENTS 83

84 LOW-INCOME HOUSING TAX CREDIT PROCESS 84

85 LOW-INCOME HOUSING TAX CREDITS Federal funds administered by state agencies Dollar-for-dollar tax reduction to investors Credits acts like equity, reducing conventional debt and allowing for lower rents 85

86 TAX CREDIT TIMING 2017 Application Round Pre-apps due Jan. 9 th Full apps due March 1 st TDHCA releases final scoring mid-may TDHCA board approves final awards late-july 86

87 CITY SUPPORT Competitive Applications Require City support in two forms Resolution of support Financial support 87

88 QUESTIONS? 88

89 AGENDA ITEM City of Lago Vista To: Mayor & City Council Council Meeting: February 2, 2017 From: David Harrell, AICP, Development Services Director Subject: RESOLUTION : A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF LAGO VISTA, TEXAS AUTHORIZING THE CITY MANAGER TO ENTER INTO AN UNIMPROVED PROPERTY CONTRACT FOR PURCHASE OF LOT 15 BAR K AIRPORT SUBDIVISION FOR $143,000. Request: Business Item Legal Document: Resolution Legal Review: EXECUTIVE SUMMARY: Council approved the Lago Vista Rusty Allen Airport Action in December, Within the 10 Year Capital Improvement Program of the Plan, the City would begin numerous property acquisitions on the eastside of the Airport beginning in the first year. Staff has included a map showing the proposed acquisition of Lot 15, which is critical to purchase as it would allow future access to Phase 1 of the Airport expansion. A professional appraiser was hired to conduct an assessment of the property late last year in accordance with TXDOT Standards. The property has been appraised at $143,000. If approved by the Council, part of this funding would be reimbursed by TXDOT on a basis within the next fiscal year. 89

90 Impact if Approved: Staff could begin the process of purchasing the lot. Impact if Denied: Staff could not begin the process of purchasing the lot. This may impact future expansion opportunities at the Airport. Is Funding Required? Yes No If Yes, Is it Budgeted? Yes No N/A Indicate Funding Source: Issuance of Bonds Suggested Motion/Recommendation/Action Motion to: Motion to: Motion to: Approve Resolution Deny Resolution Table Resolution Known As: RESOLUTION : A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF LAGO VISTA, TEXAS AUTHORIZING THE CITY MANAGER TO ENTER INTO AN UNIMPROVED PROPERTY CONTRACT FOR PURCHASE OF LOT 15 BAR K AIRPORT SUBDIVISION FOR $143,000. Agenda Item Approved by City Manager 90

91 CITY OF LAGO VISTA, TEXAS RESOLUTION A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF LAGO VISTA, TEXAS AUTHORIZING THE CITY MANAGER TO ENTER INTO AN UNIMPROVED PROPERTY CONTRACT FOR PURCHASE OF LOT 15 BAR K AIRPORT SUBDIVISION FOR $143,000. WHEREAS, the City approved the Lago Vista Rusty Allen Airport Action Plan (Plan) under Ordinance # which governs the growth of the Airport and its environs; and WHEREAS, the Plans 10 Year Capital Improvement Program allocates the acquisition of property on the eastside of the Airport for purposes of expansion; and WHEREAS, the City was presented with an opportunity to put an offer forward on a lot located in/around the Airport (Lot) in furtherance of the Plan; WHEREAS, the City staff has hired a certified professional land appraiser to appraise said Lot in accordance with TxDOT standards with said appraisal cost included within the unimproved property contract; and WHEREAS, it appears that the owner of the Lot and the City may be able to come to terms for the City to acquire the Lot. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LAGO VISTA, TEXAS: THAT, the City Council of the City of Lago Vista, Texas, does hereby authorize the City Manager to execute the Unimproved Property Contract to begin the acquisition of Lot 15, Bar K Airport Subdivision and to take other such steps as may be necessary to acquire the Lot. AND, IT IS SO RESOLVED. PASSED AND APPROVED this 2 nd day of February, Attest: Dale Mitchell, Mayor Sandra Barton, City Secretary On a motion by Council Member, seconded by Council Member, the above and foregoing instrument was passed and approved. 91

92 EQUAL MOUSING a>portunfty PROMULGATED BY THE TEXAS REAL ESTATE COMMISSION (TREC) UNIMPROVED PROPERTY CONTRACT NOTICE: Not For Use For Condominium Transactions PARTIES: The parties to this contract are Doug Hlavaty (Seller) and The City of Lago Vista, Texas, a municipal corporation (Buyer). Seller agrees to sell and convey to Buyer and Buyer agrees to buy from Seller the Property defined below. PROPERTY: Lot LOT 15 LAGO VISTA BAR-K AIRPORT SUBD, Block :-.,..,,-: Addition, City of Lago Vista, County of Travis Texas, known as 9212 Rolling Hills Trail (address/zip code), or as described on attached exhibit together with all rights, privileges and appurtenances pertaining thereto, including but not limited to: water rights, claims, permits, strips and gores, easements, and cooperative or association memberships (the Property). 3. SALES PRICE: A. Cash portion of Sales Price payable by Buyer at closing $ B. Sum of all financing described in the attached: D Third Party Financing Addendum, D Loan Assumption Addendum, D Seller Financing Addendum $ C. Sales Price(Sum of A and B) $ 143, LICENSE HOLDER DISCLOSURE: Texas law requires a real estate license holder who is a party to a transaction or acting on behalf of a spouse, parent, child, business entity in which the license holder owns more than 10%, or a trust for which the license holder acts as a trustee or of which the license holder or the license holder's spouse, parent or child is a beneficiary, to notify the other party in writing before entering into a contract of sale. Disclose if applicable: EARNEST MONEY: Upon execution of contract by all parties, Buyer shall deposit$ _1 ~4_3_0_. 0_0 as earnest money with Donna Sherrill, Independence Title as escrow agent, at 601 East Whitestone Blvd, Bldg 6, Ste 100 Cedar Park, Tx (address). Buyer shall deposit additional earnest money of$ with escrow agent within days after the effective date of this contract. If Buyer fails to deposit the earnest money as required by this contract, Buyer will be in default. 6. TITLE POLICY AND SURVEY: A. TITLE POLICY: Seller shall furnish to Buyer at IRJ Seller's D Buyer's expense an owner's policy of title insurance (Title Policy) issued by Independence Title (Title Company) in the amount of the Sales Price, dated at or after closing, insuring Buyer against loss under the provisions of the Title Policy, subject to the promulgated exclusions (including existing building and zoning ordinances) and the following exceptions: (1) Restrictive covenants common to the platted subdivision in which the Property is located. (2) The standard printed exception for standby fees, taxes and assessments. (3) Liens created as part of the financing described in Paragraph 3. (4) Utility easements created by the dedication deed or plat of the subdivision in which the Property is located. (5) Reservations or exceptions otherwise permitted by this contract or as may be approved by Buyer in writing. (6) The standard printed exception as to marital rights. (7) The standard printed exception as to waters, tidelands, beaches, streams, and related matters. (8) The standard printed exception as to discrepancies, conflicts, shortages in area or boundary lines, encroachments or protrusions, or overlapping improvements: D (i) will not be amended or deleted from the title policy; or IRJ (ii) will be amended to read, "shortages in area" at the expense of0 Buyer!RI Seller. B. COMMITMENT: Within 20 days after the Title Company receives a copy of this contract, Seller shall furnish to Buyer a commitment for title insurance (Commitment) and, at Buyer's expense, legible copies of restrictive covenants and documents evidencing exceptions in the Commitment (Exception Documents) other than the standard printed exceptions. Seller authorizes the Title Company to deliver the Commitment and Exception Documents to Buyer at Buyer's address shown in Paragraph 21. If the Commitment and Exception Documents are not delivered to Buyer within the specified time, the time for delivery will be automatically extended up to 15 days or 3 days before the Closing Date, whichever is earlier. If, due to factors beyond Seller's control, the Commitment and Exception Documents are not delivered within the time required, Buyer may terminate this contract and the earnest money will be refunded to Buyer. C. SURVEY: The survey must be made by a registered professional land surveyor acceptable to the Title Company and Buyer's lender(s). (Check one box only)!ri (1) Within 5 days after the effective date of this contract, Seller shall furnish to Buyer and Title Company Seller's existing survey of the Property and a Residential Real Property Initialed for identification by Buyer and Seller _ TREC NO Envision Realty, 3933 Outpost Trace Lago Visla, TX 78~5 Phone: Fax:. CoLV Airport Lot Kevin Sullivan Produced with zipform by ziplogix Fifteen Mile Road, Fraser. Michigan WtfW zjpl ogjx com 92

93 Contract Concerning 9212 Rolling Hills Trail Lago Vista, Page 2 of (Address of Property) Affidavit promulgated by the Texas Department of Insurance (T-47 Affidavit). If Seller fails to furnish the existing survey or affidavit within the time prescribed, Buyer shall obtain a new survey at Seller's expense no later than 3 days prior to Closing Date. If the existing survey or affidavit is not acceptable to Title Company or Buyer's lender(s), Buyer shall obtain a new survey at ~Seller's D Buyer's expense no later than 3 days prior to Closing Date. D (2) Within days after the effective date of this contract, Buyer shall obtain a new survey at Buyer's expense. Buyer is deemed to receive the survey on the date of actual receipt or the date specified in this paragraph, whichever is earlier. D (3) Within days after the effective date of this contract, Seller, at Seller's expense shall furnish a new survey to Buyer. D. OBJECTIONS: Buyer may object in writing to {i) defects, exceptions, or encumbrances to title: disclosed on the survey other than items 6A(1) through (7) above; or disclosed in the Commitment other than items 6A(1) through (8) above; (ii) any portion of the Property lying in a special flood hazard area (Zone V or A) as shown on the current Federal Emergency Management Agency map; or (iii) any exceptions which prohibit the following use or activity: Buyer must object the earlier of (i) the Closing Date or (ii) days after Buyer receives the Commitment, Exception Documents, and the survey. Buyer's failure to object within the time allowed will constitute a waiver of Buyer's right to object; except that the requirements in Schedule C of the Commitment are not waived. Provided Seller is not obligated to incur any expense, Seller shall cure the timely objections of Buyer or any third party lender within 15 days after Seller receives the objections and the Closing Date will be extended as necessary. If objections are not cured within such 15 day period, this contract will terminate and the earnest money will be refunded to Buyer unless Buyer waives the objections. E. TITLE NOTICES: (1) ABSTRACT OR TITLE POLICY: Broker advises Buyer to have an abstract of title covering the Property examined by an attorney of Buyer's selection, or Buyer should be furnished with or obtain a Title Policy. If a Title Policy is furnished, the Commitment should be promptly reviewed by an attorney of Buyer's choice due to the time limitations on Buyer's right to object. (2) MEMBERSHIP IN PROPERTY OWNERS ASSOGIATION(S): The Property ~ is 0 is not subject to mandatory membership in a property owners association(s). If the Property is subject to mandatory membership in a property owners association{s), Seller notifies Buyer under 5.012, Texas Property Code, that, as a purchaser of property in the residential community identified in Paragraph 2 in which the Property is located, you are obligated to be a member of the property owners association(s). Restrictive covenants governing the use and occupancy of the Property and all dedicatory instruments governing the establishment, maintenance, and operation of this residential community have been or will be recorded in the Real Property Records of the county in which the Property is located. Copies of the restrictive covenants and dedicatory instruments may be obtained from the county clerk. You are obligated to pay assessments to the property owners association(sl. The amount of the assessments is subject to change. Your failure to pay the assessments could result in enforcement of the association's lien on and the foreclosure of the Property. Section , Property Code, entitles an owner to receive copies of any document that governs the establishment, maintenance, or operation of a subdivision, including, but not limited to, restrictions, bylaws, rules and regulations, and a resale certificate from a property owners' association. A resale certificate contains information including, but not limited to, statements specifying the amount and frequency of regular assessments and the style and cause number of lawsuits to which the property owners' association is a party, other than lawsuits relating to unpaid ad valorem taxes of an individual member of the association. These documents must be made available to you by the property owners' association or the association's agent on your request. If Buyer is concerned about these matters, the TREC promulgated Addendum for Property Subject to Mandatory Membership in a Property Owners Association should be used. (3) STATUTORY TAX DISTRICTS: If the Property is situated in a utility or other statutorily created district providing water, sewer, drainage, or flood control facilities and services, Chapter 49, Texas Water Code, requires Seller to deliver and Buyer to sign the statutory notice relating to the tax rate, bonded indebtedness, or standby fee of the district prior to final execution of this contract. (4) TIDE WATERS: If the Property abuts the tidally influenced waters of the state, , Texas Natural Resources Code, requires a notice regarding coastal area property to be included in the contract. An addendum containing the notice promulgated by TREC or required by the parties must be used. (5) ANNEXATION: If the Property is located outside the limits of a municipality, Seller notifies Buyer under 5.011, Texas Property Code, that the Property may now or later be included in Initialed for identification by Buyer and Seller TREC NO Produced with zipform by ziplogix Fifteen Mile Road, Fraser, Michigan www ziploqix com CoLV Airport Lot 93

94 Contract Concerning 9212 Rolling Hills Trail Lago Vista, Page 3 of (Address of Property) the extraterritorial jurisdiction of a municipality and may now or later be subject to annexation by the municipality. Each municipality maintains a map that depicts its boundaries and extraterritorial jurisdiction. To determine if the Property is located within a municipality's extraterritorial jurisdiction or is likely to be located within a municipality's extraterritorial jurisdiction, contact all municipalities located in the general proximity of the Property for further information. (6) PROPERTY LOCATED IN A CERTIFICATED SERVICE AREA OF A UTILITY SERVICE PROVIDER: Notice required by , Water Code: The real property, described in Paragraph 2, that you are about to purchase may be located in a certificated water or sewer service area, which is authorized by law to provide water or sewer service to the properties in the certificated area. If your property is located in a certificated area there may be special costs or charges that you will be required to pay before you can receive water or sewer service. There may be a period required to construct lines or other facilities necessary to provide water or sewer service to your property. You are advised to determine if the property is in a certificated area and contact the utility service provider to determine the cost that you will be required to pay and the period, if any, that is required to provide water or sewer service to your property. The undersigned Buyer hereby acknowledges receipt of the foregoing notice at or before the execution of a binding contract for the purchase of the real property described in Paragraph 2 or at closing of purchase of the real property. (7) PUBLIC IMPROVEMENT DISTRICTS: If the Property is in a public improvement district, 5.014, Property Code, requires Seller to notify Buyer as follows: As a purchaser of this parcel of real property you are obligated to pay an assessment to a municipality or county for an improvement project undertaken by a public improvement district under Chapter 372, Local Government Code. The assessment may be due annually or in periodic installments. More information concerning the amount of the assessment and the due dates of that assessment may be obtained from the municipality or county levying the assessment. The amount of the assessments is subject to change. Your failure to pay the assessments could result in a lien on and the foreclosure of your property. (8) TEXAS AGRICULTURAL DEVELOPMENT DISTRICT: The Property 0 is ~ is not located in a Texas Agricultural Development District. For additional information, contact the Texas Department of Agriculture. (9) TRANSFER FEES: If the Property is subject to a private transfer fee obligation, 5.205, Property Code requires Seller to notify Buyer as follows: The private transfer fee obligation may be governed by Chapter 5, Subchapter G of the Texas Property Code. (10) PROPANE GAS SYSTEM SERVICE AREA: If the Property is located in a propane gas system service area owned by a distribution system retailer, Seller must give Buyer written notice as required by , Texas Utilities Code. An addendum containing the notice approved by TREC or required by the parties should be used. (11) NOTICE OF WATER LEVEL FLUCTUATIONS: If the Property adjoins an impoundment of water, including a reservoir or lake, constructed and maintained under Chapter 11, Water Code, that has a storage capacity of at least 5,000 acre-feet at the impoundment's normal operating level, Seller hereby notifies Buyer: "The water level of the impoundment of water adjoining the Property fluctuates for various reasons, including as a result of: (1) an entity lawfully exercising its right to use the water stored in the impoundment; or (2) drought or flood conditions." 7. PROPERTY CONDITION: A ACCESS, INSPECTIONS AND UTILITIES: Seller shall permit Buyer and Buyer's agents access to the Property at reasonable times. Buyer may have the Property inspected by inspectors selected by Buyer and licensed by TREC or otherwise permitted by law to make inspections. Seller at Seller's expense shall immediately cause existing utilities to be turned on and shall keep the utilities on during the time this contract is in effect. NOTICE: Buyer should determine the availability of utilities to the Property suitable to satisfy Buyer's needs. B. ACCEPTANCE OF PROPERTY CONDITION: "As Is" means the present condition of the Property with any and all defects and without warranty except for the warranties of title and the warranties in this contract. Buyer's agreement to accept the Property As Is under Paragraph 7B (1) or (2) does not preclude Buyer from inspecting the Property under Paragraph 7A, from negotiating repairs or treatments in a subsequent amendment, or from terminating this contract during the Option Period, if any. (Check one box only) ~ (1) Buyer accepts the Property As Is. 0 (2) Buyer accepts the Property As Is provided Seller, at Seller's expense, shall complete the following specific repairs and treatments: (Do not insert general phrases, such as "subject to inspections" that do not identify specific repairs and treatments.) C. COMPLETION OF REPAIRS: Unless otherwise agreed in writing: (i) Seller shall complete all agreed repairs and treatments prior to the Closing Date; and (ii) all required permits must be obtained, and re airs and treatments must be erformed b ersons who are licensed to Initialed for identification by Buyer and Seller TREC NO Produced with zipfonn by ziplogix Fifteen Mile Road. Fraser. Michigan www ziplogix com CoLY Airport Lot 94

95 Contract Concerning 9212 Rolling Hills Trail Lago Vista, Page 4 of (Address of Property) provide such repairs or treatments or, if no license is required by law, are commercially engaged in the trade of providing such repairs or treatments. At Buyer's election, any transferable warranties received by Seller with respect to the repairs and treatments will be transferred to Buyer at Buyer's expense. If Seller fails to complete any agreed repairs and treatments prior to the Closing Date, Buyer may exercise remedies under Paragraph 15 or extend the Closing Date up to 5 days, if necessary, for Seller to complete repairs and treatments. D. ENVIRONMENTAL MATTERS: Buyer is advised that the presence of wetlands, toxic substances, including asbestos and wastes or other environmental hazards, or the presence of a threatened or endangered species or its habitat may affect Buyer's intended use of the Property. If Buyer is concerned about these matters, an addendum promulgated by TREC or required by the parties should be used. E. SELLER'S DISCLOSURES: Except as otherwise disclosed in this contract, Seller has no knowledge of the following: (1) any flooding of the Property which has had a material adverse effect on the use of the Property; (2) any pending or threatened litigation, condemnation, or special assessment affecting the Property; (3) any environmental hazards that materially and adversely affect the Property; (4) any dumpsite, landfill, or underground tanks or containers now or previously located on the Property; (5) any wetlands, as defined by federal or state law or regulation, affecting the Property; or (6) any threatened or endangered species or their habitat affecting the Property. 8. BROKERS' FEES: All obligations of the parties for payment of brokers' fees are contained in separate written agreements. 9. CLOSING: A. The closing of the sale will be on or before February 17, 2017, or within 7 days after objections made under Paragraph 6D have been cured or waived, whichever date is later (Closing Date). If either party fails to close the sale by the Closing Date, the non-defaulting party may exercise the remedies contained in Paragraph 15. B. At closing: (1) Seller shall execute and deliver a general warranty deed conveying title to the Property to Buyer and showing no additional exceptions to those permitted in Paragraph 6 and furnish tax statements or certificates showing no delinquent taxes on the Property. (2) Buyer shall pay the Sales Price in good funds acceptable to the escrow agent (3) Seller and Buyer shall execute and deliver any notices, statements, certificates, affidavits, releases, loan documents and other documents reasonably required for the closing of the sale and the issuance of the Title Policy. (4) There will be no liens, assessments, or security interests against the Property which will not be satisfied out of the sales proceeds unless securing the payment of any loans assumed by Buyer and assumed loans will not be in default. 10. POSSESSION: A. Buyer's Possession: Seller shall deliver to Buyer possession of the Property in its present or required condition upon closing and funding. B. Leases: (1) After the Effective Date, Seller may not execute any lease (including but not limited to mineral leases) or convey any interest in the Property without Buyer's written consent. (2) If the Property is subject to any lease to which Seller is a party, Seller shall deliver to Buyer copies of the lease(s) and any move-in condition form signed by the tenant within 7 days after the Effective Date of the contract. 11. SPECIAL PROVISIONS: (Insert only factual statements and business details applicable to the sale. TREC rules prohibit license holders from adding factual statements or business details for which a contract addendum or other form has been promulgated by TREC for mandatory use.) 12. SETTLEMENT AND OTHER EXPENSES: A. The following expenses must be paid at or prior to closing: (1) Expenses payable by Seller (Seller's Expenses): (a) Releases of existing liens, including prepayment penalties and recording fees; release of Seller's loan liability; tax statements or certificates; preparation of deed; one-half of escrow fee; and other expenses payable by Seller under this contract. (b) Seller shall also pay an amount not to exceed $ to be applied in the following order: Buyer's Expenses which Buyer is prohibited from paying by FHA, VA, Texas Veterans Land Board or other governmental loan programs, and then to other Buyer's Expenses as allowed by the lender. Initialed for identification by Buyer and Seller TREC NO Produced with zipform by ziplogix Fifteen Mile Road. Fraser, Michigan www ziploqix.com CoLV Airport Lot 95

96 Contract Concerning 9212 Rolling Hills Trail Lago Vista, Page 5 of (Address of Property) (2) Expenses payable by Buyer (Buyer's Expenses): Appraisal fees; Joan application fees; origination charges; credit reports; preparation of loan documents; interest on the notes from date of disbursement to one month prior to dates of first monthly payments; recording fees; copies of easements and restrictions; Joan title policy with endorsements required by lender; loan-related inspection fees; photos; amortization schedules; one-half of escrow fee; all prepaid items, including required premiums for flood and hazard insurance, reserve deposits for insurance, ad valorem taxes and special governmental assessments; final compliance inspection; courier fee; repair inspection; underwriting fee; wire transfer fee; expenses incident to any loan; Private Mortgage Insurance Premium (PMI), VA Loan Funding Fee, or FHA Mortgage Insurance Premium (MIP) as required by the lender; and other expenses payable by Buyer under this contract. B. If any expense exceeds an amount expressly stated in this contract for such expense to be paid by a party, that party may terminate this contract unless the other party agrees to pay such excess. Buyer may not pay charges and fees expressly prohibited by FHA, VA, Texas Veterans Land Board or other governmental loan program regulations. 13. PRORATIONS AND ROLLBACK TAXES: A. PRORATJONS: Taxes for the current year, interest, maintenance fees, assessments, dues and rents will be prorated through the Closing Date. The tax proration may be calculated taking into consideration any change in exemptions that will affect the current year's taxes. If taxes for the current year vary from the amount prorated at closing, the parties shall adjust the prorations when tax statements for the current year are available. If taxes are not paid at or prior to closing, Buyer shall pay taxes for the current year. B. ROLLBACK TAXES: If this sale or Buyer's use of the Property after closing results in the assessment of additional taxes, penalties or interest (Assessments) for periods prior to closing, the Assessments will be the obligation of Buyer. If Assessments are imposed because of Seller's use or change in use of the Property prior to closing, the Assessments will be the obligation of Seller. Obligations imposed by this paragraph will survive closing. 14. CASUAL TY LOSS: If any part of the Property is damaged or destroyed by fire or other casualty after the effective date of this contract, Seller shall restore the Property to its previous condition as soon as reasonably possible, but in any event by the Closing Date. If Seller fails to do so due to factors beyond Seller's control, Buyer may (a) terminate this contract and the earnest money will be refunded to Buyer (b) extend the time for performance up to 15 days and the Closing Date will be extended as necessary or (c) accept the Property in its damaged condition with an assignment of insurance proceeds, if permitted by Seller's insurance carrier, and receive credit from Seller at closing in the amount of the deductible under the insurance policy. Seller's obligations under this paragraph are independent of any other obligations of Seller under this contract. 15. DEFAULT: If Buyer fails to comply with this contract, Buyer will be in default, and Seller may (a) enforce specific performance, seek such other relief as may be provided by law, or both, or (b) terminate this contract and receive the earnest money as liquidated damages, thereby releasing both parties from this contract. If Seller fails to comply with this contract Seller will be in default and Buyer may (a) enforce specific performance, seek such other relief as may be provided by law, or both, or (b) terminate this contract and receive the earnest money, thereby releasing both parties from this contract. 16. MEDIATION: It is the policy of the State of Texas to encourage resolution of disputes through alternative dispute resolution procedures such as mediation. Any dispute between Seller and Buyer related to this contract which is not resolved through informal discussion will be submitted to a mutually acceptable mediation service or provider. The parties to the mediation shall bear the mediation costs equally. This paragraph does not preclude a party from seeking equitable relief from a court of competent jurisdiction. 17. ATTORNEY'S FEES: A Buyer, Seller, Listing Broker, Other Broker, or escrow agent who prevails in any legal proceeding related to this contract is entitled to recover reasonable attorney's fees and all costs of such proceeding. 18. ESCROW: A. ESCROW: The escrow agent is not (i) a party to this contract and does not have liability for the performance or nonperformance of any party to this contract, (ii) liable for interest on the earnest money and (iii) liable for the loss of any earnest money caused by the failure of any financial institution in which the earnest money has been deposited unless the financial institution is acting as escrow agent. B. EXPENSES: At closing, the earnest money must be applied first to any cash down payment, then to Buyer's Expenses and any excess refunded to Buyer. If no closing occurs, escrow agent may: (i) require a written release of liability of the escrow agent from all parties, (ii) require payment of unpaid expenses incurred on behalf of a party, and (iii) only deduct from the earnest money the amount of unpaid expenses incurred on behalf of the party receiving the earnest money. C. DEMAND: Upon termination of this contract, either party or the escrow agent may send a release of earnest money to each party and the parties shall execute counterparts of the release and deliver same to the escrow agent. If either party fails to execute the release, either party may make a written demand to the escrow agent for the earnest money. If only one art makes written demand for the earnest mone escrow a ent shall rom ti rovide Initialed for identification by Buyer and Seller TREC NO Produced with zipform by ziplogix Fifteen Mile Road, Fraser. Michigan www zjologjx com CoLV Airport Lot 96

97 Contract Concerning 9_2_12_ R_o_lli_n_g_H_il_ls_T_r_a_il L_a_g_o_V_is_t_a,~7_8_64_5 Page 6 of (Address of Property) a copy of the demand to the other party. If escrow agent does not receive written objection to the demand from the other party within 15 days, escrow agent may disburse the earnest money to the party making demand reduced by the amount of unpaid expenses incurred on behalf of the party receiving the earnest money and escrow agent may pay the same to the creditors. If escrow agent complies with the provisions of this paragraph, each party hereby releases escrow agent from all adverse claims related to the disbursal of the earnest money. D. DAMAGES: Any party who wrongfully fails or refuses to sign a release acceptable to the escrow agent within 7 days of receipt of the request will be liable to the other party for (i) damages; (ii) the earnest money; (iii) reasonable attorney's fees; and (iv) all costs of suit. E. NOTICES: Escrow agent's notices will be effective when sent in compliance with Paragraph 21. Notice of objection to the demand will be deemed effective upon receipt by escrow agent. 19. REPRESENTATIONS: All covenants, representations and warranties in this contract survive closing. If any representation of Seller in this contract is untrue on the Closing Date, Seller will be in default. Unless expressly prohibited by written agreement, Seller may continue to show the Property and receive, negotiate and accept back up offers. 20. FEDERAL TAX REQUIREMENTS: If Seller is a "foreign person," as defined by applicable law, or if Seller fails to deliver an affidavit to Buyer that Seller is not a "foreign person," then Buyer shall withhold from the sales proceeds an amount sufficient to comply with applicable tax law and deliver the same to the Internal Revenue Service together with appropriate tax forms. Internal Revenue Service regulations require filing written reports if currency in excess of specified amounts is received in the transaction. 21. NOTICES: All notices from one party to the other must be in writing and are effective when mailed to, hand-delivered at, or transmitted by fax or electronic transmission as follows: To Buyer at: Doug Hlavaty Hwy 87 Lubbock TX To Seller at: City Manager, City of Lago Vista, Texas 5803 Thunderbird Lago Vista, TX Phone: (512) ) Fax: E -ma i I: ~ 22. AGREEMENT OF PARTIES: This contract contains the entire agreement of the parties and cannot be changed except by their written agreement. Addenda which are a part of this contract are (check all applicable boxes): 0 Third Party Financing Addendum 0 Seller Financing Addendum ~ Addendum for Property Subject to Mandatory Membership in a Property Owners Association 0 Buyer's Temporary Residential Lease 0 Seller's Temporary Residential Lease 0 Addendum for Reservation of Oil, Gas and Other Minerals 0 Addendum for "Back-Up" Contract 0 Addendum for Coastal Area Property 0 Environmental Assessment, Threatened or Endangered Species and Wetlands Addendum 0 Addendum for Property Located Seaward of the Gulf lntracoastal Waterway 0 Addendum for Sale of Other Property by Buyer 0 Addendum for Property in a Propane Gas System Service Area 0 Other (list): Initialed for identification by Buyer and Seller TREC NO Produced with zipfonn by ziplogix Fifteen Mile Road, Fraser, Michigan www zjploqix com CoLV Airport Lot 97

98 Contract Concerning 9212 Rolling Hiiis Trail Lago Vista, Page 7 of (Address of Property) 23. TERMINATION OPTION: For nominal consideration, the receipt of which is hereby acknowledged by Seller, and Buyer's agreement to pay Seller$ (Option Fee} within 3 days after the effective date of this contract, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within 7 days after the effective date of this contract (Option Period}. Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located} by the date specified. If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract. If Buyer gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any earnest money will be refunded to Buyer. The Option Fee [&!will 0 will not be credited to the Sales Price at closing. Time is of the essence for this paragraph and strict compliance with the time for performance is required. 24. CONSULT AN ATTORNEY BEFORE SIGNING: TREC rules prohibit real estate license holders from giving legal advice. READ THIS CONTRACT CAREFULLY. Buyer's Attorney is: Seller's Attorney is: Barbara Boulware-Wells The Knight Law Firm, LLP 223 West Anderson Lane, Suite A-105, Austin, TX Phone: Phone:... <5~1=2'"")3~2~3-5 -'--'- 77"""8~) Fax: Fax:.._(5'--' 1_2~)3=2~3-5~77~30..<)_ bbw@cityattomeytexas.com EXECUTED the day of (EFFECTIVE DATE}. (BROKER: FILL IN THE DATE OF FINAL ACCEPTANCE.) Buyer The City of Lago Vista, Texas, a municipal corporation Seller Doug Hlavaty Buyer Seller The form of this contract has been approved by the Texas Real Estate Commission. TREC forms are intended for use only by trained real estate license holders. No representation is made as to the legal validity or adequacy of any provision in any specific transactions. It is not intended for complex transactions. Texas Real Estate Commission, P.O. Box 12188, Austin, TX , (512) ( TREC NO This form replaces TREC NO TREC NO. Produced with zipform by ziplogix Fifteen Mile Road, Fraser, Michigan WWt! ziplooix com CoLV Airport Lot 98

99 Contract Concerning 9_2_12_ R_o_lli_n_g_H_i_lls_T_r_a_il L_a_g~o_V_is_t_a~, _7_8_64_5 Page 8 of (Address of Property) BROKER INF OR MA TION (Print name(s) only. Do not sign) N/A N/A Other Broker Firm License No. Listing Broker Firm License No. represents D Buyer only as Buyer's agent represents D Seller and Buyer as an intermediary 0 Seller as Listing Broker's subagent 0 Seller only as Seller's agent Associate's Name License No. Listing Associate's Name License No. Licensed Supervisor of Associate License No. Licensed Supervisor of Listing Associate License No. Other Broker's Address Fax Listing Broker's Office Address Fax City State Zip City State Zip Associate's Address Phone Listing Associate's Address Phone Selling Associate's Name License No. Licensed Supervisor of Selling Associate License No. Selling Associate's Office Address Fax City State Zip Selling Associate's Address Phone Listing Broker has agreed to pay Other Broker of the total sales price when the Listing Broker's fee is received. Escrow agent is authorized and directed to pay other Broker from Listing Broker's fee at closing. OPTION FEE RECEIPT Receipt of$ (Option Fee) in the form of is acknowledged. Seller or Listing Broker Date CONTRACT AND EARNEST MONEY RECEIPT Receipt of 0 Contract and 0 $ is acknowledged. Escrow Agent Earnest Money in the form of Date: By: Address City State Zip Address Phone: Fax: 9-12 TREC NO. Produced with zipform by ziplogix Fifteen Mite Road. Fraser. Michigan com CoLV Airport Lot 99

100 EQUAL HOUSING OPPORTUNrTY PROMULGATED BY THE TEXAS REAL ESTATE COMMISSION (TREC) ADDENDUM FOR PROPERTY SUBJECT TO MANDATORY MEMBERSHIP IN A PROPERTY OWNERS ASSOCIATION (NOT FOR USE WITH CONDOMINIUMS) ADDENDUM TO CONTRACT CONCERNING THE PROPERTY AT 9212 Rolling Hills Trail Lago Vista (Street Address and City) Rusty Allen Airport Property Owner's Association (Name of Property Owners Association, (Association) and Phone Number) A. SUBDIVISION INFORMATION: "Subdivision Information" means: (i) a current copy of the restrictions applying to the subdivision and bylaws and rules of the Association, and (ii) a resale certificate, all of which are described by Section of the Texas Property Code. (Check only one box): IXJ 1. Within 1 O days after the effective date of the contract, Seller shall obtain, pay for, and deliver the Subdivision Information to the Buyer. If Seller delivers the Subdivision Information, Buyer may terminate the contract within 3 days after Buyer receives the Subdivision Information or prior to closing, whichever occurs first, and the earnest money will be refunded to Buyer. If Buyer does not receive the Subdivision Information, Buyer, as Buyer's sole remedy, may terminate the contract at any time prior to closing and the earnest money will be refunded to Buyer. D 2. Within days after the effective date of the contract, Buyer shall obtain, pay for, and deliver a copy of the Subdivision Information to the Seller. If Buyer obtains the Subdivision Information within the time required, Buyer may terminate the contract within 3 days after Buyer receives the Subdivision Information or prior to closing, whichever occurs first, and the earnest money will be refunded to Buyer. If Buyer, due to factors beyond Buyer's control, is not able to obtain the Subdivision Information within the time required, Buyer may, as Buyer's sole remedy, terminate the contract within 3 days after the time required or D 3. prior to closing, whichever occurs first, and the earnest money will be refunded to Buyer. Buyer has received and approved the Subdivision Information before signing the contract. Buyer D does D does not require an updated resale certificate. If Buyer requires an updated resale certificate, Seller, at Buyer's expense, shall deliver it to Buyer within 10 days after receiving payment for the updated resale certificate from Buyer. Buyer may terminate this contract and the earnest money will be refunded to Buyer if Seller fails to deliver the updated resale certificate within the time required. D 4. Buyer does not require delivery of the Subdivision Information. The title company or its agent is authorized to act on behalf of the parties to obtain the Subdivision Information ONLY upon receipt of the required fee for the Subdivision Information from the party obligated to pay. B. MATERIAL CHANGES. If Seller becomes aware of any material changes in the Subdivision Information, Seller shall promptly give notice to Buyer. Buyer may terminate the contract prior to closing by giving written notice to Seller if: (i) any of the Subdivision Information provided was not true; or (ii) any material adverse change in the Subdivision Information occurs prior to closing, and the earnest money will be refunded to Buyer. C. FEES: Except as provided by Paragraphs A, D and E, Buyer shall pay any and all Association fees or other charges associated with the transfer of the Property not to exceed $ and Seller shall pay any excess. D. DEPOSITS FOR RESERVES: Buyer shall pay any deposits for reserves required at closing by the Association. E. AUTHORIZATION: Seller authorizes the Association to release and provide the Subdivision Information and any updated resale certificate if requested by the Buyer, the Title Company, or any broker to this sale. If Buyer does not require the Subdivision Information or an updated resale certificate, and the Title Company requires information from the Association (such as the status of dues, ~ecial assessments, violations of covenants and restrictions, and a waiver of any right of first refusal), IXJ Buyer LJ Seller shall pay the Title Company the cost of obtaining the information prior to the Title Company ordering the information. NOTICE TO BUYER REGARDING REPAIRS BY THE ASSOCIATION: The Association may have the sole responsibility to make certain repairs to the Property. If you are concerned about the condition of any part of the Property which the Association is required to repair, you should not sign the contract unless you are satisfied that the Association will make the desired repairs. Buyer The City of Lago Vista, Texas, a municipal corporation Seller Doug Hlavaty Buyer Seller The fonn of this addendum has been approved by the Texas Real Estate Commission for use only with similarly approved or promulgated fonns of contracts. Such approval relates to this contract fonn only. TREC forms are intended for use only by trained real estate licensees. No representation is made as to the legal validity or adequacy of any provision in any specific transactions. It is not intended for complex transactions. Texas Real Estate Commission. P.O. Box 12188, Austin, TX , (512) ( TREC No This fonn replaces TREC No TREC NO Envision Realty, 3933 Outpost Trace Lago Visla, TX Phone: Fax:. CoLV Airport Lot Kevin Sullivan Produced with zipform by ziplogix Fifteen Mile Road, Fraser, Michigan www ziplooix.com 100

101 EQUAL MOUSING OPPORTUNITY PROMULGATED BY THE TEXAS REAL ESTATE COMMISSION (TREC) ADDENDUM FOR PROPERTY SUBJECT TO MANDATORY MEMBERSHIP IN A PROPERTY OWNERS ASSOCIATION (NOT FOR USE WITH CONDOMINIUMS) ADDENDUM TO CONTRACT CONCERNING THE PROPERTY AT II I Rolling Hills Trail Lago Vi~ta (Street Address and City) Rus Owner's Association (Name of Property Owners Association, (Association) and Phone Number) A. SUBDIVISION INFORMATION: "Subdivision Information" means: (i) a current copy of th~ restrictions applying to the subdivision and bylaws and rules of the Association, and (ii) a resale certificate, all of Which are described by Section of the Texas Property Code. (Check only one box): ~ 1. Within 1 O days after the effective date of the contract, Seller shall obtain p y for, and deliver the Subdivision Information to the Buyer. If Seller delivers the Subdivision lnformati\)r Buyer may terminate the contract within 3 days after Buyer receives the Subdivision Information or pr\o to closing, whichever occurs first, and the earnest money will be refunded to Buyer. If Buyer does no r~ceive the Subdivision Information, Buyer, as Buyer's sole remedy, may terminate the contract at any tim prior to closing and the earnest money will be refunded to Buyer Within days after the effective date of the contract, Buyer shall obtain, pay for, and deliver a copy of the Subdivision Information to the Seller. If Buyer obtains the Subdivisi ~m Information within the time required, Buyer may terminate the contract within 3 days after Buyer receives the Subdivision Information or prior to closing, whichever occurs first, and the earnest money will! b\l refunded to Buyer. If Buyer, due to factors beyond Buyer's control, is not able to obtain the Subdivision lrnformation within the time required, Buyer may, as Buyer's sole remedy, terminate the contract within 3 days a,fter the time required or prior to closing, whichever occurs first, and the earnest money will be refunded to u er Buyer has received and approved the Subdivision Information before signing the c9ntract. Buyer 0 does 0 does not require an updated resale certificate. If Buyer requires an updated re\'a le certificate, Seller, at Buyer's expense, shall deliver it to Buyer within 10 days after receiving payme t for the updated resale certificate from Buyer. Buyer may terminate this contract and the earnest money will 1e refunded to Buyer if Seller fails to deliver the updated resale certificate within the time required. I 0 4. Buyer does not require delivery of the Subdivision Information. The title company or its agent is authorized to act on behalf of the parties to ob ain the Subdivision Information ONLY upon receipt of the required fee for the Subdivision lnfom1li ion from the party obligated to pay. B. MATERIAL CHANGES. If Seller becomes aware of any material changes in the Subdivisio I formation, Seller shall promptly give notice to Buyer. Buyer may terminate the contract prior to closing by giving r en notice to Seller if: (i) any of the Subdivision Information provided was not true; or (ii) any material adverse change in the Subdivision Information occurs prior to closing, and the earnest money will be refunded to Buyer. C. FEES: Except as provided by Paragraphs A, D and E, Buyer shall pay any and all Association fees or other charges associated with the transfer of the Property not to exceed $ and Seller s all pay any excess. D. DEPOSITS FOR RESERVES: Buyer shall pay any deposits for reserves required at closing by the Association. E. AUTHORIZATION: Seller authorizes the Association to release and provide the Subdivisrq Information and any updated resale certificate if requested by the Buyer, the Title Company, or any broker to thi s sale. If Buyer does not require the Subdivision Information or an updated resale certificate, and the Title Compaqy requires information from the Association (such as the status of dues, special assessments, violations of covena nf~ and restrictions, and a waiver of any right of first refusal), ~ Buyer 0 Seller shall pay the Title Company t E1 cost of obtaining the information prior to the Title Company ordering the information. NOTICE TO BUYER REGARDING REPAIRS BY THE ASSOCIATION: The Association may have the sole responsibility to make certain repairs to the Property. If you are concerned about the conditi n of any part of the Property which the Association is required to repair, you should not sign the contract unless ybu are satisfied that the Association will make the desired repairs. Buyer The City of Lago Vista, Texas, a municipal corporation JL ~~~ j_l~~~~~~~-v_l:_j~~- Buyer Seller 1 The form of this addendum has been approved by the Texas Real Estate Commission for use only with simila~y approved or promul a\ d forms of contracts. Such approval relates to this contract form only. TREC forms are intended tor use only by trained real estate licensees. No represen tjon is made as to the legal validity or adequacy of any provision in any specific transactions. It is not intended for complex transactions. Texas Real Estate C mission, P.O. Box 12188, Austin, TX , (512) ( ) TREC No This form replaces TREC No TREC NO Envision Realty,3933 Outpost Trace Lago Vista, TX Phone: F ~:. CoLV Airport Lot Kevin Sullivan Produced with zipform by ziplogix Fifteen Mile Road, Fraser, Midligan WWW ziplogjx com 101

102 EQUAL l-iousing OPPORTUNllY PROMULGATED BY THE TEXAS REAL ESTATE COMMISSION (T E ~) UNIMPROVED PROPERTY CONTRACT NOTICE: Not For Use For Condominium Transactions PARTIES: The parties to this contract are Doug Hlavaty and The City of Lago Vista, Texas, a municipal corporation (B yer). to sell and convey to Buyer and Buyer agrees to buy from Seller the Property defined below, PROPERTY: Lot LOT 15 LAGO VISTA BAR-K AIRPORT SUBD, Block (Seller) Seller agrees ::------:: =:---:+- Addition, City of Lago Vista, County of Travis Texas, known as 9212 Rolling Hills Trail I (address/zip code), or as described on attached exhibit together with all rig Its, privileges and appurtenances pertaining thereto, including but not limited to: water rights, aims, permits, strips and gores, easements, and cooperative or association memberships (the Property). 3. SALES PRICE: A. Cash portion of Sales Price payable by Buyer at closing $ 143, B. Sum of all financing described in the attached: 0 Third Party Financing Addendum, O Loan Assumption Addendum, 0 Seller Financing Addendum $ --+~ C. Sales Price(Sum of A and B) $ LICENSE HOLDER DISCLOSURE: Texas law requires a real estate license h is a party to a transaction or acting on behalf of a spouse, parent, child, business entity i which the license holder owns more than 10%, or a trust for which the license holder acts as a tru51tee or of which the license holder or the license holder's spouse, parent or child is a beneficiary, jo notify the other party in writing before entering into a contract of sale. Disclose if applicable: 5. EARNEST MONEY: Upon execution of contract by all parties, Buyer shall deposit $ M~ O_O as earnest money with Donna Sherrill, Independence Title as escrow agent, at 601 East Whitestone Blvd, Bldg 6, Ste 100 Cedar Park, Tx 7861[3_,I (address). Buyer shall deposit additional earnest money of$ I with escrow agent within days after the effective date of this contract. If Buyer fails tq deposit the earnest money as required by this contract, Buyer will be in default. 6. TITLE POLICY AND SURVEY: A. TITLE POLICY: Seller shall furnish to Buyer at IX] Seller's 0 Buyer's expense all owner's policy of title insurance (Title Policy) issued by Independence Title (Title Company) in the amount of the Sales Price, dated at or after cldsir1g, insuring Buyer against loss under the provisions of the Title Policy, subject to the prcbn ulgated exclusions (including existing building and zoning ordinances) and the following exceptions: (1) Restrictive covenants common to the platted subdivision in which the Property is located. (2) The standard printed exception for standby fees, taxes and assessments. (3) Liens created as part of the financing described in Paragraph 3. (4) Utility easements created by the dedication deed or plat of the Property is located. I subdiv1,ion in which the (5) Reservations or exceptions otherwise permitted by this contract or as mi~ be approved by Buyer in writing. (6) The standard printed exception as to marital rights. (7) The standard printed exception as to waters, tidelands, beaches, s -reams, and related matters. (8) The standard printed exception as to discrepancies, conflicts, shortages n area or boundary lines, encroachments or protrusions, or overlapping improvements: i) will not be amended or deleted from the title policy; or IX] (ii) will be amended to r,ad, "shortages in area" at the expense of 0 Buyer IX] Seller. B. COMMITMENT: Within 20 days after the Title Company receives a copy of 1is contract, Seller shall furnish to Buyer a commitment for title insurance (Commitment) and, at Buyer's expense, legible copies of restrictive covenants and documents evidencing exceptions im the Commitment (Exception Documents) other than the standard printed exceptions. Seller a0.thorizes the Title Company to deliver the Commitment and Exception Documents to Buyer a Buyer's address shown in Paragraph 21. If the Commitment and Exception Documents a e not delivered to Buyer within the specified time, the time for delivery will be automatically e>rtended up to 15 days or 3 days before the Closing Date, whichever is earlier. If, due to fac-t0 s beyond Seller's control, the Commitment and Exception Documents are not delivered withi he time required, Buyer may terminate this contract and the earnest money will be refunded to Buyer. C. SURVEY: The survey must be made by a registered professional land sur eyor acceptable to the Title Company and Buyer's lender(s). (Check one box only) IX] (1) Within 5 days after the effective date of this contract, Seller shall ~lt rnish to Buyer and Title Company Seller's existing survey of the Property and a Resideln~ al Real Property Initialed for identification by Buyer and Seller TREC NO Envision Realty, 3933 Outpost Trace Lago Vista, TX Phone: CoL V Airport Lot Kevin Sullivan Produced with zipform by ziplogix Fifteen Mile Road, Fraser, Michigan com 102

103 Contract Conceming,,,9"'-2_,_,12,,_R'-'-o~l"'-li'--"ngtl...!..!H""'ill' "s_,t-"ra,,_,i, I--,.,--,-,------:,..,:L;:=a,.,g'-"o:-'V;-.cis,,_,ta=,'--'-7-=-86-=-4'-"5~-- Page 2 o SI (Address of Property) Affidavit promulgated by the Texas Department of Insurance (T-47 Affi a it). If Seller fails to furnish the existing survey or affidavit within the time presc1 bed, Buyer shall obtain a new survey at Seller's expense no later than 3 days prior to Closing Date. If the existing survey or affidavit is not acceptable to Title Company or Buyer's lender(s), Buyer shall obtain a new survey at IX] Seller's D Buyer's expense no later than 3 d1 ys prior to Closing Date. D (2) Within days after the effective date of this contract, Buyer shall Jbtain a new survey at Buyer's expense. Buyer is deemed to receive the survey on the date f actual receipt or the date specified in this paragraph, whichever is earlier. D (3) Within days after the effective date of this contract, Seller, at S lier's expense shall furnish a new survey to Buyer. D. OBJECTIONS: Buyer may object in writing to (i) defects, exceptions, or encumbrances to title: disclosed on the survey other than items 6A(1) through (7) above; f disclosed in the Commitment other than items 6A(1) through (8) above; (ii) any portion of tth, Property lying in a special flood hazard area (Zone V or A) as shown on the current Federal Emergency Management Agency map; or (iii) any exceptions which prohibit the folio I g use or activity: Buyer must object the earlier of (i) the Closing Date or (ii). days ~ ft~ r Buyer receives _the Commitment, Exception Documents, and the survey. Buyer's failure to objy<:t within the time allowed will constitute a waiver of Buyer's right to object; except that the requirements in Schedule C of the Commitment are not waived. Provided Seller is not ot lj ated to incur any expense, Seller shall cure the timely objections of Buyer or any third party I ~n er within 15 days after Seller receives the objections and the Closing Date will be extend d as necessary. If objections are not cured within such 15 day period, this contract will termi ate and the earnest money will be refunded to Buyer unless Buyer waives the objections. E. TITLE NOTICES: (1) ABSTRACT OR TITLE POLICY: Broker advises Buyer to have an abstrac ' f title covering the Property examined by an attorney of Buyer's selection, or Buyer should b furnished with or obtain a Title Policy. If a Title Policy is furnished, the Commitment should be promptly reviewed by an attorney of Buyer's choice due to the time limitations o 111 Buyer's right to object. (2) MEMBERSHIP IN PROPERTY OWNERS ASSOCIATION(S): The Property IX] s 10 is not subject to mandatory membership in a property owners association(s). If the Pr p ~ rty is subject to mandatory membership in a property owners association(s), Seller cit.fies Buyer under 5.012, Texas Property Code, that, as a purchaser of property in the " / idential community identified in Paragraph 2 in which the Property is located, you are obliga e to be a member of the property owners association(s). Restrictive covenants goverr i n~ the use and occupancy of the Property and all dedicatory instruments governing f.~e establishment, maintenance, and operation of this residential community have been or v ill be recorded in the Real Property Records of the county in which the Property is locat,d. Copies of the restrictive covenants and dedicatory instruments may be obtained from the county clerk. You are obligated to pay assessments to the property owners jl.:sociation(sl. The amount of the assessments is subject to change. Your faih.!lre to pay the assessments could result in enforcement of the association's I li_,iln on and the foreclosure of the Property. 1 Section , Property Code, entitles an owner to receive copies of ' ny document that governs the establishment, maintenance, or operation of a subdivision, ncluding, but not limited to, restrictions, bylaws, rules and regulations, and a resale certifi o~t - from a property owners' association. A resale certificate contains information including, but not limited to, statements specifying the amount and frequency of regular assessments nd the style and cause number of lawsuits to which the property owners' association is a party, other than lawsuits relating to unpaid ad valorem taxes of an individual member Qf the association. These documents must be made available to you by the property ownerr' association or the association's agent on your request. If Buyer is concerned about these matters, the TREC promulgate Addendum for Property Subject to Mandatory Membership in a Property 0 ers Association should be used. (3) STATUTORY TAX DISTRICTS: If the Property is situated in a utility 0 other statutorily created district providing water, sewer, drainage, or flood control tac litiies and services, Chapter 49, Texas Water Code, requires Seller to deliver and Buyer tc Sign the statutory notice relating to the tax rate, bonded indebtedness, or standby fee of the district prior to final execution of this contract. (4) TIDE WATERS: If the Property abuts the tidally influenced waters of t e state, , Texas Natural Resources Code, requires a notice regarding coastal arele property to be included in the contract. An addendum containing the notice promulga ~d by TREC or required by the parties must be used. (5) ANNEXATION: If the Property is located outside the limits of a munici~ a ty, Seller notifies Buyer under 5.011, Texas Property Code, that the Property may now or la, ~er be included in Initialed for identification by Buyer and Seller TREC NO Produced with zipform by zipl ogix Fifteen Mile Road, Fraser, Michigan www ziplogix com CoL V Airport Lot 103

104 1111 -"9=2-'-'12~R~o=l=li~ng~H=ill=s~T~ra=i~I -,..,.-,-,------,,-::L:--'a_g~o.,-V,...is_ta_,~7_8_64_5 Page 3 of I Contract Conceming (Address of Property) the extraterritorial jurisdiction of a municipality and may now or lial;er be subject to annexation by the municipality. Each municipality maintains a m 3p that depicts its boundaries and extraterritorial jurisdiction. To determine if the Property Is located within a municipality's extraterritorial jurisdiction or is likely to be located withjn a municipality's extraterritorial jurisdiction, contact all municipalities located in the gen ~ra l proximity of the Property for further information. (6) PROPERTY LOCATED IN A CERTIFICATED SERVICE AREA OF A UTILITY Efl :RVICE PROVIDER: Notice required by , Water Code: The real property, described in Paragraph 2, that you are about to purchase may be located in a certificated water or 1 sewer service area, which is authorized by law to provide water or sewer service to t 1 e properties in the certificated area. If your property is located in a certificated area there 1 ~1y be special costs or charges that you will be required to pay before you can receive w ter or sewer service. There may be a period required to construct lines or other facilities cessary to provide water or sewer service to your property. You are advised to determine i t e property is in a certificated area and contact the utility service provider to determine the c st that you will be required to pay and the period, if any, that is required to provide wate r sewer service to your property. The undersigned Buyer hereby acknowledges receipt of t e foregoing notice at or before the execution of a binding contract for the purchase of the real property described in Paragraph 2 or at closing of purchase of the real property. (7) PUBLIC IMPROVEMENT DISTRICTS: If the Property is in a public improvement district, 5.014, Property Code, requires Seller to notify Buyer as follows: As a purchaser of this parcel of real property you are obligated to pay an assessment to a mur i ipality or county for an improvement project undertaken by a public improvement district qnder Chapter 372, Local Government Code. The assessment may be due annually or in p~ riodic installments. More information concerning the amount of the assessment and the ~ ue dates of that assessment may be obtained from the municipality or county levying ~ assessment. The amount of the assessments 1s subject to change. Your failure to pay t~ assessments could result in a lien on and the foreclosure of your property. (8) TEXAS AGRICULTURAL DEVELOPMENT DISTRICT: The Property 0 1s C not located m a Texas Agricultural Development District. For additional information, ntact the Texas Department of Agriculture. (9) TRANSFER FEES: If the Property is subject to a private transfer fe 1 e obligation, 5.205, Property Code requires Seller to notify Buyer as follows: The private t <1nsfer fee obligation may be governed by Chapter 5, Subchapter G of the Texas Property Code. (10) PROPANE GAS SYSTEM SERVICE AREA: If the Property is located in propane gas system service area owned by a distribution system retailer, Seller must give B y r written notice as required by , Texas Utilities Code. An addendum containing th notice approved by TREC or required by the parties should be used. (11) NOTICE OF WATER LEVEL FLUCTUATIONS: If the Property adjoins an irc 1:w undment of water, including a reservoir or lake, constructed and maintained under Chapter 11, Water Code, that has a storage capacity of at least 5,000 acre-feet at the impf undment's normal operating level, Seller hereby notifies Buyer: "The water level of the imp undment of water adjoining the Property fluctuates for various reasons, including as a renil of: (1) an entity lawfully exercising its right to use the water stored in the impoundme ti or (2) drought or flood conditions." 7. PROPERTY CONDITION: A ACCESS, INSPECTIONS AND UTILITIES: Seller shall permit Buyer and Buy rl agents access to the Property at reasonable times. Buyer may have the Property insp ed by inspectors selected by Buyer and licensed by TREC or otherwise permitted by law o make inspections. Seller at Seller's expense shall immediately cause existing utilities to be urned on and shall keep the utilities on during the time this contract is in effect. NOTICE: Buyer should determine the availability of utilities to the Prope suitable to satisfy Buyer's needs. B. ACCEPTANCE OF PROPERTY CONDITION: "As Is" means the present conolir )n of the Property with any and all defects and without warranty except for the warranti 1 s of title and the warranties in this contract. Buyer's agreement to accept the Property As Is under Paragraph 7B (1) or (2) does not preclude Buyer from inspecting the Property under p aragraph 7 A, from negotiating repairs or treatments in a subsequent amendment, or fr m1 terminating this contract during the Option Period, if any. (Check one box only) [XI (1) Buyer accepts the Property As Is. 0 (2) Buyer accepts the Property As Is provided Seller, at Seller's expense, $hall complete the following specific repairs and treatments: ~ (Do not insert general phrases, such as "subject to inspections" that dol ot identify specific repairs and treatments.) C. COMPLETION OF REPAIRS: Unless otherwise agreed in writing: (i) Selle shall complete all agreed repairs and treatments prior to the Closing Date; and (ii) all required permits must be obtained, and re airs and treatments must be erformed b ersons who I are licensed to Initialed for identification by Buyer and Seller TREC NO Produced with zipfoittl by ziplogix Fineen Mile Road. Fraser, Michigan www ziologix com CoL V Airport Lot I 104

105 1111 Contract Conceming -=9=2_,_,12"-'--'Ro=l=li'""ng"-'-'H=ill=s~T~ra=i~I-,.,...,-.,.----,c:L="'a~g~o.,...V.,...is~ta~,~7_8_64_5~-- Page (Address of Property) provide such repairs or treatments or, if no license is required by la 1 1 are commercially engaged in the trade of providing such repairs or treatments. At Buyer's election, any transferable warranties received by Seller with respect to the repairs an~ treatments will be transferred to Buyer at Buyer's expense. If Seller fails to complete any agreed repairs and treatments prior to the Closing Date, Buyer may exercise remedies und "r Paragraph 15 or extend the Closing Date up to 5 days, if necessary, for Seller to mplete repairs and treatments. D. ENVIRONMENTAL MATTERS: Buyer is advised that the presence of wetland toxic substances, including asbestos and wastes or other environmental hazards, or the pres ncie of a threatened or endangered species or its habitat may affect Buyer's intended use of the P operty. If Buyer is concerned about these matters, an addendum promulgated by TREC or rec1u ed by the parties should be used. E. SELLER'S DISCLOSURES: Except as otherwise disclosed in this contract, Sell er has no knowledge of the following: (1) any flooding of the Property which has had a material adverse effect on the use of the Property; (2) any pending or threatened litigation, condemnation, or special ent affecting the Property; (3) any environmental hazards that materially and adversely affect the Property; (4) any dumpsite, landfill, or underground tanks or containers now or previ ' ly located on the Property; (5) any wetlands, as defined by federal or state law or regulation, affecting the Prope or (6) any threatened or endangered species or their habitat affecting the Property. BROKERS' FEES: All obligations of the parties for payment of brokers' feer 9 are contained in separate written agreements. CLOSING: A. The closing of the sale will be on or before February 17, 2017, or within 7 days after objections made under Paragraph 60 have been cured or waived, whic; ever date is later (Closing Date). If either party fails to close the sale by the Closing Oat >, the non-defaulting party may exercise the remedies contained in Paragraph 15. B. At closing: (1) Seller shall execute and deliver a general warranty deed conveying titl er o the Property to Buyer and showing no additional exceptions to those permitted in Paragr< ph 6 and furnish tax statements or certificates showing no delinquent taxes on the Property. (2) Buyer shall pay the Sales Price in good funds acceptable to the escrow agent. (3) Seller and Buyer shall execute and deliver any notices, statements, c13rtificates, affidavits, releases, loan documents and other documents reasonably required for e closing of the sale and the issuance of the Title Policy. (4) There will be no liens, assessments, or security interests against the Prop ~rty which will not be satisfied out of the sales proceeds unless securing the payment of a~~ loans assumed by Buyer and assumed loans will not be in default. 10. POSSESSION: A. Buyer's Possession: Seller shall deliver to Buyer possession of the Propeny in its present or required condition upon closing and funding. B. Leases: (1) After the Effective Date, Seller may not execute any lease (including ~ ut not limited to mineral leases) or convey any interest in the Property without Buyer's written con.e t. (2) If the Property is subject to any lease to which Seller is a party, Seller h II deliver to Buyer copies of the lease(s) and any move-in condition form signed by the tiernant within 7 days after the Effective Date of the contract. 11. SPECIAL PROVISIONS: (Insert only factual statements and business details applicable to the sale. TREC rules prohibit license holders from adding factual statements or b siness details for which a contract addendum or other form has been promulgated by TREC for mandatory u e ) I I 12. SETTLEMENT AND OTHER EXPENSES: A. The following expenses must be paid at or prior to closing: (1) Expenses payable by Seller (Seller's Expenses): (a) Releases of existing liens, including prepayment penalties and recordir'l Seller's loan liability; tax statements or certificates; preparation of escrow fee; and other expenses payable by Seller under this contract. (b) Seller shall also pay an amount not to exceed $ fees; release of eed; one-half of o be applied in the following order: Buyer's Expenses which Buyer is prohibited from paying by FHA, VA, Texas Veterans Land Board or other governmental loan programs, apd then to other Buyer's Expenses as allowed by the lender. I ~ Initialed for identification by Buyer and Seller 111' TREC NO ~ - '"'~ 0, """"" '""'"" ~. ~. m M- -'''""' ~ J - ~m;~rt ~ 105

106 C-o-nt-ra_c_t_C_o_n_ce_m_i_n_g~~~~:9:2:1:2:R:o:n:in:g:H:i:ll-s=--~T:ra:i-l~--,-,-,--_-_-_,-c=-c----_-=L-a=g:o:-v~-=is:ta:.~:1-s=-6:4:5~~~~=--P-a_g_e_5_o_f_8 I (Address of Property) (2) Expenses payable by Buyer (Buyer's Expenses): Appraisal fees; loan lpplication fees; origination charges; credit reports; preparation of loan documents; intererst on the notes from date of disbursement to one month prior to dates of first 1 thly payments; recording fees; copies of easements and restrictions; loan title policy it endorsements required by lender; loan-related inspection fees; photos; amortization s dules; one-half of escrow fee; all prepaid items, including required premiums for fie> d and hazard insurance, reserve deposits for insurance, ad valorem taxes and sp c I governmental assessments; final compliance inspection; courier fee; repair inspection; 1nderwriting fee; wire transfer fee; expenses incident to any loan; Private Mortgage Ins 1rance Premium (PMI), VA Loan Funding Fee, or FHA Mortgage Insurance Premium (MIP) required by the lender; and other expenses payable by Buyer under this contract. B. If any expense exceeds an amount expressly stated in this contract for such expense to be paid by a party, that party may terminate this contract unless the other pa y agrees to pay such excess. Buyer may not pay charges and fees expressly prohibited by "HA, VA, Texas Veterans Land Board or other governmental loan program regulations. j 13. PRORATIONS AND ROLLBACK TAXES: A. PRORATIONS: Taxes for the current year, interest, maintenance fees, assess R nts, dues and rents will be prorated through the Closing Date. The tax proration may b lculated taking into consideration any change in exemptions that will affect the current yea ' taxes. If taxes for the current year vary from the amount prorated at closing, the partie! shall adjust the prorations when tax statements for the current year are available. If taxes are not paid at or prior to closing, Buyer shall pay taxes for the current year. B. ROLLBACK TAXES: If this sale or Buyer's use of the Property after closin results in the assessment of additional taxes, penalties or interest (Assessments) for period 1 s prior to closing, the Assessments will be the obligation of Buyer. If Assessments are imp ed because of Seller's use or change in use of the Property prior to closing, the Assessm nts will be the 1 obligation of Seller. Obligations imposed by this paragraph will survive closing. 14. CASUAL TY LOSS: If any part of the Property is damaged or destroyed by fire r other casualty after the effective date of this contract, Seller shall restore the Property to its revious condition as soon as reasonably possible, but in any event by the Closing Date. If Seller f~ s to do so due to factors beyond Seller's control, Buyer may (a) terminate this contract and th earnest money will be refunded to Buyer (b) extend the time for performance up to 15 days and the Closing Date will be extended as necessary or (c) accept the Property in its damaged ~ ndition with an assignment of insurance proceeds, if permitted by Seller's insurance carrier, arntl receive credit from Seller at closing in the amount of the deductible under the insurance policy. Seller's obligations under this paragraph are independent of any other obligations of eller under this contract. 15. DEFAULT: If Buyer fails to comply with this contract, Buyer will be in default, it.n Seller may (a) enforce specific performance, seek such other relief as may be provided by la, or both, or (b) terminate this contract and receive the earnest money as liquidated damages, hereby releasing both parties from this contract. If Seller fails to comply with this contract Seller ill be in default and Buyer may (a) enforce specific performance, seek such other relief as may be provided by law, or both, or (b) terminate this contract and receive the earnest money, hereby releasing both parties from this contract. 16. MEDIATION: It is the policy of the State of Texas to encourage resolution c fl disputes through alternative dispute resolution procedures such as mediation. Any dispute bet een Seller and Buyer related to this contract which is not resolved through informal discussio.\nill be submitted to a mutually acceptable mediation service or. provider. The parties to the ediation shall bear the mediation costs equally. This paragraph does not preclude a party from eeking equitable relief from a court of competent jurisdiction. 17. ATTORNEY'S FEES: A Buyer, Seller, Listing Broker, Other Broker, or escrow \a ent who prevails in any legal proceeding related to this contract is entitled to recover reason< 9 attorney's fees and all costs of such proceeding. 18. ESCROW: A. ESCROW: The escrow agent is not (i) a party to this contract and does qt have liability for the performance or nonperformance of any party to this contract, (ii) liable f9r interest on the earnest money and (iii) liable for the loss of any earnest money caused b he failure of any financial institution in which the earnest money has been deposited unleiss the financial institution is acting as escrow agent. B. EXPENSES: At closing, the earnest money must be applied first to any a payment, then to Buyer's Expenses and any excess refunded to Buyer. If no clo. i1 ~ occurs, escrow agent may: (i) require a written release of liability of the escrow agent tm/n all parties, (ii) require payment of unpaid expenses incurred on behalf of a party, and (ii ) only deduct from the earnest money the amount of unpaid expenses incurred on behalf of tt e party receiving the earnest money. C. DEMAND: Upon termination of this contract, either party or the escrow release of earnest money to each party and the parties shall release and deliver same to the escrow agent. If either party fails party may make a written demand to the escrow agent for one a makes written demand for the earnest mone escrow Initiated for identification by Buyer and Seller Produced with zipform by ziplogix Fifteen Mile Road, Fraser, Michigan www zjologjx com CoLV Airport Lot 106

107 ~ u----~ Contract Concerning ---=9=2-'--'12~Ro=l=li~ng~H=ill=s~T~ra"'i71 -,--,------o-=-~l=ca,..g~o~v~is~ta=,~7~8~64~5~-- Page 6 f (Address of Property) a copy of the demand to the other party. If escrow agent does not recei ei written objection to the demand from the other party within 15 days, escrow agent may ct f burse the earnest money to the party making demand reduced by the amount of unpaid "' enses incurred on behalf of the party receiving the earnest money and escrow agent may oa the same to the creditors. If escrow agent complies with the provisions of this paragrap~, each party hereby releases escrow agent from all adverse claims related to the disbursal of the earnest rneey. D. DAMAGES: Any party who wrongfully fails or refuses to sign a release accep able to the escrow agent within 7 days of receipt of the request will be liable to the other par for (i) damages; (ii) the earnest money; (iii) reasonable attorney's fees; and (iv) all costs of suit. E. NOTICES: Escrow agent's notices will be effective when sent in compliano 1 e with Paragraph 21. Notice of objection to the demand will be deemed effective upon receipt by escrow a!ient. 19. REPRESENTATIONS: All covenants, representations and warranties in tri contract survive closing. If any representation of Seller in this contract is untrue on the Closin~ ate, Seller will be in default. Unless expressly prohibited by written agreement, Seller may C)I') inue to show the Property and receive, negotiate and accept back up offers. 20. FEDERAL TAX REQUIREMENTS: If Seller is a "foreign person," as defined b ~lpplicable law, or if Seller fails to deliver an affidavit to Buyer that Seller is not a "foreign pers) " then Buyer shall withhold from the sales proceeds an amount sufficient to comply with ap 1ili able tax law and deliver the same to the Internal Revenue Service together with appropriate tax forms. Internal Revenue Service regulations require filing written reports if currency in \SJ<cess of specified amounts is received in the transaction. 21. NOTICES: All notices from one party to the other must be in writing and are e ective when mailed to, hand-delivered at, or transmitted by fax or electronic transmission as follows: To Buyer at: To Seller at: Doug Hlavaty City Manager, City of Lago Vista, Texas Hwy Thunderbird I I Lubbock TX Lago Vista, TX I I Phone: Phone: (512) )- \ I Fax: Ii l-1~ AGREEMENT OF PARTIES: This contract contains the entire agreement o the parties and cannot be changed except by their written agreement. Addenda which are a p1art of this contract are (check all applicable boxes): D Third Party Financing Addendum D Addendum for Coastal Area Pr perty D Seller Financing Addendum D Environmental Assessment, T reatened or Endangered Species and W.~t nds ~ Addendum for Property Subject to Addendum Mandatory Membership in a Property Owners Association D Addendum for Property Locat Seaward of the Gulf lntracoastal Wateri ay D Buyer's Temporary Residential Lease D Addendum for Sale of Other P operty by Seller's Temporary Residential Lease Buyer D D Addendum for Reservation of Oil, Gas and Other Minerals D Addendum for "Back-Up" Contract D D Addendum for Property in a =>rl,jpane Gas System Service Area Other (list): 1 Initialed for identification by Buyer and Seller Produced with zipform by ziplogix Fifteen Mile Road, Fraser, Michigan com TREC NO CoLV Airport Lot! I 107

108 II Contract Concerning 9212 Rolling Hills Trail Lago Vista, Page 7 of (Address of Property) 23. TERMINATION OPTION: For nominal consideration, the receipt of VJhich is hereby acknowledged by Seller, and Buyer's agreement to pay Seller$ (Option Fee) within 3 days after the effective date of this contract, Seller grants Buyer th ~[ Jnrestricted right to 7 terminate this contract by giving notice of termination to Seller within days after the effective date of this contract (Option Period). Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located) by the date specified. I ~ no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to... el er within the time prescribed, this paragraph will not be a part of this contract and Buyer all not have the unrestricted right to terminate this contract. If Buyer gives notice of termin tiic n within the time prescribed, the Option Fee will not be refunded; however, any earnest mone 1 viii be refunded to Buyer. The Option Fee l!lwill O will not be credited to the Sales Price at clos1 g. Time is of the essence for this paragraph and strict compliance with the time 11 Q performance is required. 24. CONSULT AN ATTORNEY BEFORE SIGNING: TREC rules prohibit real este\te license holders from giving legal advice. READ THIS CONTRACT CAREFULLY. Buyer's Seller's I I Attorney is: Attorney is: Barbara Boulware-W ~l,;.::ls" The Knight Law Firm, LLP 223 West Anderson Lane, Suite A-10", Austin, TX I Phone: Phone: """'( 5'-'1=2"-')3:..=2:.::c3-=-5:..:.7..:...78.=..)'--, ;.; Fax: Fax: ~(5~1_2~)3_2=3-'-5'""'"7"'-73~)' bbw@cityattorneytexas.c.,, o'"'m"'" EXECUTED the day of ~-li::ffective DATE). (BROKER: FILL IN THE DATE OF FINAL ACCEPTANCE.) r Buyer The City of Lago Vista, Texas, a municipal corporation Buyer Seller Doug Hlavaty ct)~ B-AuA -+-- Seller / The form of this contract has been approved by the Texas Real Estate Commission. s are intended for use only by trained real estate license holders. No representation is made as to tile legal validity or adequacy of any provision in any specific transactions. It is not intended for complex trans!~< ons. Texas Real Estate Commission, P.O. Box 12188, Austin, TX , (512) ( vw.trec.texas.gov) TREC NO This form replaces TREC NO TREC NO. Produced with zipform by ziplogix Fifteen Mile Road. Fraser, Michigan www ziplogix com CoLV Airport Lot 108

109 Contract Conceming --=9c=2-"12"-'-'R=ol=li"""ng"'-'-'H=il'-=ls'--'T'-'-ra=i"-I ~-~--L=ac.og~o~V~is=ta~, ~7-=8-=-64"""5""---- Page 8 of 8 (Address of Property) BROKER INFORMATION (Print name(s) only. Do not sign) N/A N/A Other Broker Firm License No. Listing Broker Firm I 'II' I 1 I License No. represents 0 Buyer only as Buyer's agent represents 0 Seller and Buyer as an intermediary 0 Seller as Listing Broker's subagent 0 Seller only as 3e ler's agent Associate's Name License No. Listing Associate's Name License No. I Licensed Supervisor of Associate License No. Licensed Supervisor of Listing Asso~ate License No. I I Other Broker's Address Fax Listing Broker's Office Address I I Fax City State Zip City S' ate Zip Associate's Address Phone Listing Associate's Address Phone Selling Associate's Name I I License No. Licensed Supervisor of Selling Associate License No. Selling Associate's Office Address I Fax City \State Zip Selling Associate's Address J I Phone Listing Broker has agreed to pay Other Broker of the total sales price when the Listing Broker's fee is received. Escrow agent is authorized and directed to pay other Broker from Listing Broke(.,fee at closing. OPTION FEE RECEIPT Receipt of$ (Option Fee) in the form of is acknowledged. I 1 I Seller or Listing Broker Date I 11 I CONTRACT AND EARNEST MONEY RECEIPT l \ 1 Receipt of 0 Contract and 0 $ is acknowledged. Escrow Agent: By: Address Earnest Money in the form of City State Zip Date: Address Phone: Fax: I I I Produced with zipform by ziplogix Fifteen Mile Road, Fraser, Michigan WWil ziplogix com Co.LY Airport.Lot I 1 ll Tf TREC NO. 109

110 11 u;j n 'I p~ I i Sit :t::;:~:~ob LEGAL 0 SCRIPT10N: + Scale: 1'=20' Befng oil of Lots 1.f. ond 1, of LACO \.1STA BAR-K AIRPORT SUBOl\.1510N, a subdm!jlon sltuatod in Travis County. Texa:r according to tho plat rocorcjorj in Volume 87, Poges 1058 thru 1050, Plot Records of Travia County. Tex<n. NOTC: Thia aurwy was perlormo<i without the benefit of a title report and Is subject to same as auch might reflttet. Only tho r«ord plot lt'os used as refer11nce matt1rlol for this suryey. Lot :shown Is located n ~ end Is an appro>unotlon bosed L.pon k'lterpoletlng the hformatlon fran a l' = 1000' scale Federal Emergency Manogement Agency Flood InSl.l'«ee Rote Mop of LoqoW.to. Tl"O'lis Couity, Texos CorlWl'll.l'llty Pone\ No. 481$88 020!SH wtth an effective date of SeC26, 200/J anol such flood hformatlon Is to be used only for the p..rpose of flood lns\.r,yce. THs Si.rveyor does not ossune respcnslollty for the hocaxocy of said Rote Maps. c.;... ~ ::.. s... ~ "l::l c:: ~...:i :; a t:i!! ~i.,.d 0 i ;a ~ }Pt 1~.. "" ~ \\. o.:!l,,.g1a9;\.0\) LUf\v;r.11 I, G'egory E. \/e5t, a Registered Professional Lend SUrveyor, licensed to proctlc:e Lend Sl..rveyhg ~~ S~~~:;5~tklcnher~p~~g;r: =::! ~~t~ ~of en cn-treena ts true and carect, thot there «e no dsaqj>andes, bol.nc:wy tne conrjcts, enaooc:h'llents ~7 ~ ututy""'s ''oodshpl«ee>«:< >tos"" "" egory 1 --:-_ /~-/'l NO: :UBB ~ 0 ~..q ""'-l ~ &1 ~ Cf 1... " 110

111 AGENDA ITEM City of Lago Vista To: Mayor and City Council Council Meeting: February 2, 2017 From: Barbara Boulware-Wells, City Attorney Subject: Discussion and consideration of Resolution No , A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF LAGO VISTA, TEXAS AUTHORIZING THE MAYOR AND CITY ATTORNEY TO NEGOTIATE A FINAL CONTRACT FOR AN INTERIM CITY MANAGER ON TERMS OUTLINED BY THE CITY COUNCIL Business Item Resolution EXECUTIVE SUMMARY: This item is on the Council agenda to provide the opportunity for Council to consider authorizing the Mayor together with the City Attorney to negotiate and execute a contract for an Interim City Manager. Melissa Byrne Vossmer's last day as City Manager for the City of Lago Vista is February 9, Council has reviewed and discussed how to approach the timeline and filing of the permanent City Manager position and such timelline will require the City to enter into an arrangement with a candidate who will provide interim City Manager services. Based upon discussions with the firms/individuals who provide interim services, the Council has an understanding of the general cost for such interim services. The Council has authorized the Mayor, Mayor Pro Tem Tidwell and Councilman Smith to meet with and interview prospective candidates for interim services. If, as a result of those interview, the Mayor brings forth a candidate who the Council supports, the Mayor will need authorization to finalize the negotiations and bring that candidate on board. This Resolution will give that authorization to the Mayor to work with the City Attorney's office to finalize and negotiations and documents necessary to hire an interim City Manager. 111

112 Impact if Approved: Mayor and City Attorney will work together to negotiation and finalize the contract for interim City Manager services and the City will be able to timely allow for the transition of those services from City Manager Vossmer to a new individual. Impact if Denied: The Mayor and the City Attorney will not be authorized to negotiate or finalize a contract for interim City Manager services and the City will be without an interim City Manager unless and until the City Council either authorizes such contract or enters into a contract for permanent City Manager services. Is Funding Required? Yes No If Yes, Is it Budgeted? Yes No N/A Indicate Funding Source: General Fund Revenues Suggested Motion/Recommendation/Action Motion to Motion to Motion to Approve Resolution Make Selection Make Selection nown as A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF LAGO VISTA, TEXAS AUTHORIZING THE MAYOR, TOGETHER WITH THE CITY ATTORNEY, TO NEGOTIATE AND FINALIZE A CONTRACT FOR INTERIM CITY MANAGER SERVICES ON TERMS AUTHORIZED BY THE CITY COUNCIL. Agenda Item Approved by City Manager 112

113 RESOLUTION NO A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF LAGO VISTA, TEXAS AUTHORIZING THE MAYOR, TOGETHER WITH THE CITY ATTORNEY, TO NEGOTIATE AND FINALIZE A CONTRACT FOR INTERIM CITY MANAGER SERVICES ON TERMS AUTHORIZED BY THE CITY COUNCIL. WHEREAS, the current City Manager of the City of Lago Vista, Texas has resigned effective February 9, 2017; and WHEREAS, the City Council has started the undertake the necessary steps to secure a new permanent City Manager; and WHEREAS, the City Council believes that it is prudent in the interim to secure the services of a dedicated individual who will serve as interim City Manager; and WHEREAS, the City Council has undertaken interviews for the position of interim City Manager and believe that they have secured an appropriate candidate for such position and desire to enter a contract to secure such candidate s services. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OFTHE CITY OF LAGO VISTA, TEXAS, THAT: SECTION 1. The above recitals are hereby found to be true and correct and incorporated herein for all purposes. SECTION 2. The City Council of the City of Lago Vista, Texas does hereby authorize the Mayor and the City Attorney to undertake negotiation and finalization of a contract for interim City Manager services and further authorizes the Mayor to take all steps necessary to effectuate such contract. SECTION 3. This Resolution shall be in full force and effect from and after its passage. PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF LAGO VISTA, TEXAS, ON THE 2 nd DAY OF FEBRUARY, CITY OF LAGO VISTA ATTEST Dale Mitchell, Mayor Sandra Barton, City Secretary Resolution

114 MEETING DATE: February 2, 2017 AGENDA ITEM: Discussion and possible action regarding funding for the Lago Vista golf courses Comments: Additional information will be forthcoming. Motion by: Seconded by: Content of Motion: Vote: Tippetts ; Sullivan ; Tidwell ; R. Smith ; Mitchell ; S. Smith ; Bland Motion Carried: Yes ; No 114

115 AGENDA ITEM City of Lago Vista To: Mayor and City Council Council Meeting: February 2, 2017 From: Barbara Boulware-Wells, City Attorney Subject: Discussion of some of the introduced legislation for the 85th Legislative Session of importance to the City. Workshop Make Selection EXECUTIVE SUMMARY: The 85th Legislative Session is underway and there are several bills that have been introduced that are of interest and importance to the City. I will summarize several of these bills and indicate where they are in the legislative process. 115