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CFISD approves land sale to Dunham Point and amends T‑Mobile lease; district to retain elementary site acres
Summary
The board approved a reversion sale of about 120 acres to Dunham Point Development at the original purchase price, retaining 26 acres for a potential future elementary site, and approved a second reading amendment to a T‑Mobile site lease allowing expanded equipment at Jaeger Elementary.
Cypress‑Fairbanks ISD trustees voted Aug. 11 to approve the reversion sale of approximately 120 acres of vacant land on Jack Road and Mound Road back to Dunham Point Development and authorized the superintendent or designee to finalize terms. The board discussed the sale in a closed session during the prior work session and voted to proceed in the public meeting.
According to remarks reported at the meeting, the sale price is the original purchase price of $2.50 per square foot (described in the meeting as approximately $13,000,000 total). The district will deposit the proceeds into the bond fund and retain about 26 acres of the property for a potential future elementary site; the sale requires negotiation of a right of reentry.
Separately, trustees approved a second reading amendment to a site lease option with T‑Mobile West Tower LLC that amends the district's cell‑tower agreement, described in committee as allowing lease of an additional 360 feet at Jaeger Elementary and generating roughly $750 a month in additional revenue.
Board members said they considered consultant enrollment projections and financial advice on the land sale and thanked Dunham Point representatives for collaborating on a solution they view as beneficial to the district.
