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Decatur approves Libertas development agreement, levies PID assessments and sells bonds for Nature Creek Reserve
Summary
City Council approved a development agreement with Libertas Decatur LP, adopted assessment ordinances for two Paloma/Loma Trails public improvement districts and authorized sale of special-assessment bonds tied to the projects after executive-session negotiations.
The City of Decatur on Monday approved a development agreement with Libertas Decatur LP related to the Nature Creek Reserve project and adopted assessment ordinances and bond issuances to finance public improvements for the associated Paloma/Loma Trails public improvement districts.
Council took the actions after an executive session under Texas Government Code Section 551.087 for economic-development negotiations with Libertas Decatur LP and public hearings on two PID assessment ordinances. The city then approved ordinances to levy assessments, authorized bond documents and approved a development agreement that adjusts several financing terms requested by the developer.
The development agreement, described in the council packet and discussed in open session, increases the previously…
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