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Council approves settlement to dissolve Cotton Center development agreement and release wastewater CCN tracts for $280,000
Summary
After executive session, the City Council approved a settlement with Walton Texas LP to dissolve the Cotton Center development agreement, release associated tracts from the city’s wastewater Certificate of Convenience and Necessity (CCN), and accept $280,000 in compensation.
The San Marcos City Council approved a settlement agreement with Walton Texas LP to dissolve the Cotton Center development agreement, release associated tracts from the city’s wastewater Certificate of Convenience and Necessity (CCN), and receive $280,000 in compensation to the city.
The action followed an executive session in which council received legal advice and discussed the terms of a proposed settlement. After returning to open session the council voted 7–0 to approve the settlement agreement and the CCN release subject to the $280,000 payment.
Nut graf: The settlement dissolves a development agreement and relinquishes wastewater CCN coverage for the identified tracts in exchange for compensation to the city; the council approved the terms after confidential legal consultation in executive session.
Details - Council authorized the settlement and CCN release and accepted $280,000 in compensation to the city. - The matter was discussed in executive session under Texas Government Code §551.071 (consultation with attorney) and §551.074 (personnel, as listed on the agenda); the public action occurred immediately after the closed session.
Quote - "I move to approve a settlement agreement with Walton Texas LP and affiliates, providing for the dissolution of the Cotton Center development agreement... subject to compensation to the city of $280,000," — Councilmember (motion in open session).
Ending Council approved the settlement and the release of the land from the city’s wastewater CCN; staff will implement the terms of the agreement and record the CCN modifications as required by state utility regulation processes.
sections":{"lede":"Council approved a settlement with Walton Texas LP dissolving the Cotton Center development agreement and releasing associated tracts from the city’s wastewater CCN for $280,000.","nut_graf":"The settlement was approved after an executive-session legal briefing and will require follow-up filings to modify the city’s wastewater CCN and implement the agreement terms.","ending":"Staff will carry out the settlement terms and process CCN release filings as required by state law and utility regulation."},
