(A) The city enacts the following article to allow for the city to enter into long-term reimbursement agreements for developments greater than 100 acres, which may or may not be within the city limits or ETJ of the city, and hereby finds the following:
(1) Large-scale development projects often occur in multiple phases extending over a period of years, requiring a long-term commitment of both public and private resources;
(2) Because of their scale and duration, such large-scale projects often require careful integration between public capital facilities planning, financing, and construction schedules and the phasing of the private development;
(3) Because of their scale and duration, such large-scale projects involve substantial commitments of private capital by developers, which developers are usually unwilling to risk without sufficient assurances that public resources will remain available through the extended period of the development and that the public resources provided are constructed according to the standards maintained by the city; and
(4) That it is in the public interest of the citizens of the city to participate, to the extent allowed by law, in the development of properties that have the potential of providing employment and other economic benefits to the city and its citizens.
(B) This article is supplemental to the powers conferred upon the city and does not preclude or supersede rights and obligations established pursuant to other laws regarding building permits, site-specific development plans, phased development plans, or other provisions of law.
(Ord. 07-06-02, passed 6-12-07)