Developers seek IDB referral, sales‑tax pledge and on‑site sewer MOU for Eastport Farms; board asks staff to draft documents with caveats

Developers of the proposed Eastport Farms project asked the Spring Hill Board of Mayor and Aldermen on Aug. 18 for an IDB referral and a preliminary memorandum of understanding to permit on‑site sewer treatment for portions of the proposed mixed‑use project.

Representatives from the development team—Jeff Pape (GBT Realty), Charlie Pond (Nyre Properties), consultant Rich Reebling and engineer Nathan McVay (T‑Squared Engineering)—presented a plan that has evolved over two years and now includes a significant retail anchor. The team said it has committed roughly $7.4 million to on‑site infrastructure and right‑of‑way dedication to support a proposed realignment of Jim Warren Road and improvements along the Port Royal corridor. The team said a remaining financing shortfall to complete corridor widening is in the low‑to‑mid millions and described a structure in which a portion of sales tax from the site could be pledged for up to 20 years to help pay bonds issued by an IDB.

Consultants explained two financing tools:

• Infrastructure Development Districts (IDDs)/assessments: non‑ad valorem assessments on lots in a new district that can…