Consider and take appropriate action on the Sixth Amendment to the Construction Agreement between Rastegar Related Fund Management Infinity Park Property Owner L, RPC F1 Once LLC, and Travis County for the McAngus Industrial Development project<strong>, </strong>in Precinct Four. (Commissioner Morales)
Staff Report & Agenda Item Details
McAngus Industrial Development project is a proposed 4-building warehouse site project located on McAngus Road. The Construction Agreement between Rastegar Related Fund Management, Infinity Park Property Owner LP, RPC F1 One LLC and Travis County was approved by the Commissioners Court on August 2, 2022, for the widening of a portion of McAngus Road near the Ross Road extension. The First Amendment was approved to extend the time to complete certain road improvement obligations. The Second Amendment was approved to again extend the timeline to complete certain improvements to McAngus Road. The third Amendment was proposed to remove the City of Austin from its obligations from the agreement. The fourth amendment was proposed to extend the McAngus Road construction plan approval deadline from August 31, 2024, to May 1, 2026, and to extend the McAngus Road construction deadline from February 28, 2025, to December 31, 2026. The fifth amendment was proposed to extend the McAngus Road construction plan approval deadline from May 1, 2026, to December 31, 2026, and to extend the McAngus Road construction deadline from December 31, 2026, to July 1, 2027.<br><br>The sixth amendment is proposed for the following reasons. Travis County desires that road improvements be completed along McAngus Road as part of the County’s Capital Improvement Program or other future improvement projects in the vicinity. Therefore, in lieu of constructing the McAngus Road improvements pursuant to the original agreement, the developer desires to satisfy its legal obligation for mitigation measures by contributing financially toward the Roadway Improvement Project by making a payment of $1,142,770.80 to Travis County.