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Carroll County OKs use of tax-allocation increment for Maple Grove development in Carrollton
Summary
The Board of Commissioners voted Oct. 7 to approve the county's share of a tax-allocation increment for the City of Carrollton's TAD No. 1 to support the Maple Grove mixed-use development; commissioners questioned whether the project would generate the sales tax revenue the county expects.
The Carroll County Board of Commissioners voted Oct. 7 to approve the county's participation in the City of Carrollton's tax allocation district (TAD) No. 1 to support the Maple Grove development.
The vote came after Commissioners and the project's developer discussed whether the units would be rental or owner-occupied and how much sales tax revenue the proposed commercial space is likely to generate. Commissioner Fuller moved to approve the application; a second was recorded and the motion passed on a voice vote (tally not specified).
The project's developer, Brad Wilkes, described the residential portion as 18 condominiums "for sale, not for rent" and 28 single-family detached units that will be sold to individual owners, though he said his attorney advised some units would be structured as condominium interests rather than subdivided lots. "So those will just be traditional condominiums, but they will be for sale, not for rent," Wilkes said. He added that the 28 detached homes would be owned by individual owners even if the legal structure is condominium-based.
Wilkes said the mixed-use portion is intended to attract retail and restaurants, which he said would produce sales tax revenues the county expects. "I believe it will be a great source of sales tax," he said, and said Fannie Mae and Freddie Mac loan limits would make it less likely investors would buy large numbers of units to lease them out.
Commissioners pressed the developer on the county's interest in sales-tax-producing tenants. Commissioner Fuller said the county was relying on the sales-tax estimates presented with the TAD application and asked for a verbal commitment from the developer to make reasonable efforts to attract retail and hospitality tenants. Wilkes said the developer could not control the market but would "try to encourage" retail and restaurant tenants and favored a full, active development over leaving space empty while waiting for a specific tenant mix.
County staff and the developer also discussed the school system's involvement; a speaker who identified himself as part of the city school system said the district had reviewed the plan and did not object.
The board's resolution approves the application for use of the county's tax allocation increment for City of Carrollton TAD No. 1 to support the Maple Grove development. The resolution language and any implementing documents were not read into the record and are "not specified" in the transcript.
The board did not provide a roll-call tally in the meeting transcript; the clerk recorded the motion, a second, and the chair's announcement that the motion passed.
