Argyle Town Council approved a resolution authorizing an economic development incentive agreement for the Morrison tract, the two-acre commercial parcel south of Little Joe’s and adjacent to the Professional Depot building. The action authorizes a performance-based reimbursement and fee credits negotiated between the developer and the Town’s Municipal Development District.

Why it matters: The Morrison tract project is the commercial component adjacent to the Marsden/Marston site and is intended by the Municipal Development District to catalyze the Town Center by adding office, retail, pedestrian space and utilities to support the Argyle Nature Trail and farmers market.

What the agreement includes

- An MDD funding commitment reduced from the applicant’s original request of $495,000 to $300,000 in MDD funds (reimbursement tied to infrastructure milestones). The $300,000 is structured as a reimbursement when the applicant reaches permit milestones and work is complete on public infrastructure elements.
- A credit/waiver of specified development fees (wastewater, roadway impacts, building permits and related development fees), with an estimated gross fee relief in the packet and a net fee obligation remaining for the applicant.
- The developer’s commitments to deliver public improvements as part of the project: approximately $1.7 million in public infrastructure (fire lane, water, sewer, drainage), onsite electrical for farmers-market hookups and reserved space (one building) for public restroom facilities to serve the Argyle Nature Trail.

Projected fiscal impacts

The MDD’s pro forma in the staff packet estimates up to $14 million in annual retail sales for the project mix, producing an estimated $280,000 per year in incremental sales tax revenue (the packet used a 60/40 office/retail scenario to model sales projections). The MDD judged that the long-term tax returns and infrastructure delivered under the agreement justify the incentive.

Public comment and council action

MDD members, local business owners and several residents spoke in favor of the agreement, praising the developer for prior work in the area and arguing the MDD funding would accelerate the Town Center vision. Council voted to approve Resolution 2025-60; the motion carried following deliberation and presentation by staff. The agreement requires the MDD chairman’s signature and a final exhibit documenting the public infrastructure costs.

Next steps

Staff will finalize the development agreement exhibits, monitor the developer’s milestone submittals and release MDD funds only after required public-infrastructure milestones are confirmed. The agreement also includes reporting obligations so the MDD and Town can track actual performance and sales tax receipts.

Ending

Council’s approval ties the MDD’s public-infrastructure funding to specific deliverables: if the developer proceeds, Argyle will gain staged public improvements and an expected boost to the small-town commercial core; if not, the reimbursement structure limits immediate public exposure.