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Council approves $925,486.74 reimbursement to Taylor Morrison for Stonewall Ranch wastewater work
Summary
Council authorized payment of $925,486.74 to Taylor Morrison for reimbursement of wastewater expenditures related to Stonewall Ranch sections 11, 13 and 14; staff said the obligation predates current administration and will be reconciled into future budget amendments.
Liberty Hill — The City Council approved an unbudgeted reimbursement of $925,486.74 to Taylor Morrison for wastewater infrastructure expenditures tied to Stonewall Ranch (Sections 11, 13 and 14). The payment was presented by finance staff as a legitimate, verified obligation that predates the current staff and council.
Finance staff said the city has the line items and resources to make the payment but that the expense had not been budgeted for the current fiscal year. Council members urged staff to audit prior developer and MUD agreements to identify outstanding exposures and to include anticipated remaining payments in next fiscal year planning. One council member described the situation as "surprising" given the age of the agreements and requested staff identify any further obligations so the city can budget appropriately.
Council moved and approved the payment 6–0. Staff said another payment may be required in a future fiscal year and committed to returning with a budget amendment to account for the expense.
