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Council approves Chapter 380 agreement for First Ranch commercial development with permit-standard contingency
Summary
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.
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).
The approval implements an economic development program that the council and Denton County structured after amending TIRZ No. 2 in December 2024 to increase the town's participation to 80% (the town dedicates 30% of that 80% to an economic development fund). Ray Watson, speaking for town staff, said the agreement is the legal mechanism to execute that program and that grants from…
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