Council hears private‑partner pitch for 160‑acre City Center; consultant says public liability limited, timeline shortens

Manville — Developers explained a public‑private partnership option for the city’s proposed 160‑acre City Center at the Manville City Council workshop on Aug. 4, outlining a financing approach that would use revenue‑producing components of a mixed‑use development to pay project debt rather than raising property taxes.

The pitch came from Kevin Matoka, president of Stonehenge Holdings, a Texas‑based real‑estate development firm. “We are a real estate development firm. We work with political subdivisions of the state of Texas,” Matoka told the council during a 50‑minute presentation and Q&A.

Matoka and the council framed the proposal as an alternative to a long phased build paid primarily with municipal debt. The firm said it would perform initial design and market diligence under an interim services agreement at its own cost, present a guaranteed lump‑sum price and deliver the project under a capital‑lease or revenue‑bond repayment model that would not count as a general obligation on the city’s balance sheet.

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