Denison board unanimously OKs six-month extension for Waterloo Trails development start
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Summary
The Tax Increment Reinvestment Zone No. 5 board approved a six-month extension to the Waterloo Trails Development reimbursement agreement, moving the deadline to begin public improvements to June 30, 2026, to allow more time for loan approval; the amendment was the only change to the agreement.
The Tax Increment Reinvestment Zone No. 5 board in Denison on Monday unanimously approved a six-month extension to the commencement deadline for the Waterloo Trails Development reimbursement agreement, moving the deadline to June 30, 2026.
Orlando, who presented the request, said the developer "requested 6 months, to 06/30/2026 as the final day to start the construction of public improvements and construction of the development," and told the board the extension was sought because the loan approval process needed more time. Orlando said the amendment "is the only change to the agreement at this point."
The Mayor moved to approve the extension amendment; the second was not named in the available transcript. The board voted aye and the motion carried unanimously. Before the vote the chair asked Board member Forrest Poole to recuse himself from the discussion; after the extension was approved the chair invited Poole back into the meeting.
The board did not change any other terms of the reimbursement agreement during the meeting. No additional conditions or deadlines beyond the new June 30, 2026 date were recorded in the meeting transcript.
The board’s action allows the developer additional time to secure financing without altering the substantive terms of the existing agreement.