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Council consents to Mineral Wells Municipal Management District No. 1 for Wells housing project
Summary
The council adopted a resolution consenting to the creation of Mineral Wells Municipal Management District No. 1 to support financing of the Wells housing project; the developer and staff said TCEQ-created MMDs are a preferred financing tool over city-created PIDs; vote 5-0.
The City Council of Mineral Wells voted Oct. 1 to adopt a resolution consenting to the creation of Mineral Wells Municipal Management District No. 1, a financing mechanism the developer will seek through the Texas Commission on Environmental Quality (TCEQ) for the Wells housing project.
City staff (Speaker 6) explained the…
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