Council approves Chapter 380 agreement for First Ranch commercial development with permit-standard contingency
Flower Mound on May 14 approved a Chapter 380 economic development agreement with 11 71 Commercial LLC (First Ranch/Jack First) to support retail and mixed-use development in Tax Increment Reinvestment Zone No. 2, contingent on adding a clause tying initial building permits to the town's MU ordinance standards for the TIRZ term.
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The Flower Mound Town Council on May 14 approved a Chapter 380 economic development agreement with 11 71 Commercial LLC (First Ranch/Jack First), authorizing participation in development incentives for property inside Tax Increment Reinvestment Zone (TIRZ) No. 2. The motion passed unanimously with a contingency that "no building permit will be issued for any structure that fails to conform to the MU ordinance standards" for the term of the TIRZ (30 years).
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