Council to consider development agreement for 159-unit Creekside Woods townhome project and related TIF

City staff on March 4 presented a proposed development agreement with Grey Fox Creekside LLC (developer) to support construction of a 159-unit townhome development called Creekside Woods and asked the City Council to place the agreement on the March 10 agenda for formal action.

Aaron said the council previously approved the basic development plan; the proposed agreement would authorize the sale of developer-secured revenue bonds to offset public infrastructure costs. "Those bonds are secured by the developer, very similar to what we're doing moving forward at Canal Heights," Aaron said. He said staff now recommends creating a separate TIF for the site (instead of including it in an existing Montgomery County TIF) and that the project is expected to generate about $3,300,000 to the city over the life of the TIF.

Developer Ryan Summers of GreatFOX (present at the meeting) outlined that the site presents challenges, including shallow rock, a ravine and need for water infrastructure from Wildcat Road, but said the team has addressed those issues and is "excited about the opportunity." Aaron and Summers told council the waterline extension would also benefit a nearby campground, which has been pursuing improved service.

Staff said phase 1 is anticipated to be complete by July 2027 with phase 2 completed by the end of 2028. Council members questioned timing, impacts to Kellenberger Road and whether widening would be required. Aaron said engineering cost estimates are being developed but cautioned that a widening could alter the neighborhood character and recommended delaying significant road work until traffic impacts are better assessed. The development agreement and TIF formation will be on the March 10 council agenda for formal consideration.