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Council hears Cole Ranch MMD amendment proposal: higher tax cap, regional trails and a homestead event center
Summary
City staff presented proposed amendments to Cole Ranch’s project and operating agreements that would raise the district’s benchmark tax rate to 71¢, permit a regional district structure, add a homestead event center and a 1.4‑mile 10‑foot trail loop, and increase affordable‑housing contributions to $3 million.
City staff presented proposed amendments to the Cole Ranch Municipal Management District (MMD) operating and project agreements that would allow the developer to increase the benchmark tax rate, create a regional district structure, add supplemental projects and add a homestead event center and trail enhancements.
Charlie Rosendahl, Business Services Manager, said the Cole Ranch master‑planned development covers roughly 3,169 acres and envisions single‑family and multifamily housing plus commercial acreage. The developer is seeking to raise the benchmark portion of the authorized tax rate from 49¢ to 71¢ (a change staff described as intended to allow funding for the approved project program) and to remove the existing bond reimbursement cap…
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