Item 4Q
Commercial Developer Agreement Public Storage - Southlake
Item 4Q
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Approve
Commercial Developer Agreement with PS LPT Properties Investors
in the amount of $146,804
Requested Action
The requested action for this item is approve…..
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Location map
PS LPT Properties Investors will build a Public Storage facility located at the southwest corner of Mustang Dr and Southwestern Street off State Highway 26. The Public Storage is located
within the Mustang Business Park Industrial area east of Brumlow Avenue.
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Water line layout
The nearest water line to serve this development is located approximately 1800 feet to the north at Timberline Court. The developer is required to extend the water line to the south
to serve the Public Storage development. The City has asked the developer to up size the water line from the required 8-inch to a 12-inch water line. The City will pay the upsizing
cost. The City also requested an extension of the water line to the west to connect to the existing water line in Woodsey Court. This connection will eliminate two dead end connections
at Woodsey Court and at Timberline Court. The elimination of the dead end connections will improve water quality to the water distribution system in the area. The City also requested
an extension of the 12-inch water line to the west along Southwestern Street for future connection to the industrial area.
The City will reimburse the developer $146 thousand
804 dollars for these improvements to serve Mustang Park Industrial area.
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City Participation summary
The City will pay $44 thousand 93 dollars for the upsizing cost of the 12-inch water line. The cost to extend the water line to the west to Woodsey Court and to the west along Southwestern
street is 102 thousand seven hundred and eleven dollars.
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Financial consideration
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City of Southlake Strategy Map
The City of Southlake provides municipal services that support the highest quality of life for our residents, businesses, and visitors. We do this by being an exemplary model of balancing
efficiency, fiscal responsibility, transparency, and sustainability.
C1 Achieve the highest standards of safety & security
C2 Provide travel convenience within City & region
C3 Provide attractive & unique spaces for enjoyment of personal interests
C4 Attract & keep top-tier businesses to drive a dynamic & sustainable economic environment
C5 Promote opportunities for partnerships & volunteer involvement
Serve our Customers
Manage the Business
B1 Achieve best-in-class status in all City disciplines
B2 Collaborate with select partners to implement service solutions
B3 Enhance resident quality of life & business vitality through tourism
B4 Provide high quality services through sustainable business practices
B5 Enhance service delivery through continual process improvement
B6 Optimize use of technology
Provide Financial Stewardship
Promote Learning and Growth
F1 Adhere to financial management principles & budget
F2 Invest to provide & maintain high quality public assets
F3 Achieve fiscal wellness standards
F4 Establish & maintain effective internal controls
L1 Ensure our people understand the strategy & how they contribute to it
L2 Enhance leadership capabilities to deliver results
L3 Attract, develop & retain a skilled workforce
L4 Recognize & reward high performers
L5 Empower informed decision-making at all levels in the organization
C6 Enhance the sense of
community by providing excellent customer service and citizen engagement opportunities
L6 Foster positive employee engagement
Deliver on Our Focus Areas
The construction of this water line links to the city’s strategy map relative to the focus areas of Infrastructure and Quality Development. The specific corporate objectives that are
met by the construction of this project are invest to provide & maintain high quality public assets. The Critical Business Outcome for this project is CB04 –
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Rob Cohen – (817) 748-8097
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