26-2485: Approve an ordinance amending Ordinance No. 020801-15, which settled disputes regarding the applicability of the Save Our Springs (SOS) Ordinance in the area known as Circle C, to adopt an amendment to the settlement agreement for Tract 110 (11010-1/2 South Mopac Expressway Southbound) to increase the development density for residential living units and multifamily residential living units and to remove the requirement for the property owner to construct the South Bay Lane Extension on Tract 110; and authorizing the execution of the amendment. This action concerns land located within the Barton Springs Zone. Funding: This item has no fiscal impact.

Description

Approve an ordinance amending Ordinance No. 020801-15, which settled disputes regarding the applicability of the Save Our Springs (SOS) Ordinance in the area known as Circle C, to adopt an amendment to the settlement agreement for Tract 110 (11010-1/2 South Mopac Expressway Southbound) to increase the development density for residential living units and multifamily residential living units and to remove the requirement for the property owner to construct the South Bay Lane Extension on Tract 110; and authorizing the execution of the amendment. This action concerns land located within the Barton Springs Zone. Funding: This item has no fiscal impact.

Summary

The City of Austin is considering a Fourth Amendment to the Circle C Development Agreement, affecting approximately 67 acres at 11010 ½ South Mopac Expressway. This amendment aims to permit residential uses, remove office use, adjust residential density limits, and implement affordable housing requirements, mandating at least 10% of habitable space be designated for households earning 80% or less of the median family income. Additionally, it seeks to modify the conditional overlay for the property to allow multifamily residential and various retail uses while eliminating the requirement to connect South Bay Lane to the existing neighborhood. This legislation is significant as it addresses housing density and affordability within the Barton Springs Zone, impacting local residents and the broader community by potentially increasing housing availability.