Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Infrastructure And Development topic
No spam. Unsubscribe anytime.
Boards OK $1 million infrastructure participation and sales-tax reimbursement to unlock sewer and retail development
Summary
Boards authorized an economic development agreement with Denton Cross Timbers Partners LLC that includes construction-sales-tax reimbursement and up to $1,000,000 in public infrastructure participation (reimbursement after asset acceptance) to extend sewer and water toward a retail/industrial corridor; project timing is tied to the Trinity River Authority's regional sewer (TRA) expected in 2026.
Speaker 4 introduced an agreement with Denton Cross Timbers Partners LLC to help bring sewer and water to an area south of 1171 and east of 35W to enable retail and industrial development. He said this agreement differs from the previous item because it is not supported by a special district; the boards would provide construction-sales-tax reimbursement and a public-infrastructure participation payment of up to $1,000,000 to help extend sewer across Denton Creek and unlock adjacent development.
Speaker 4 said the infrastructure participation would be a reimbursement paid after the public asset is built and accepted, and that the developer must complete entitlements and site work. He tied project timing to the Trinity River Authority's regional sewer line (TRA), which staff said is expected to be complete in 2026; the developer intends to time construction to that schedule, so significant development would likely occur in late 2026 or early 2027.
Board members asked about cost splits and budget entries; Speaker 4 confirmed the intent to split costs 50/50 between the boards where applicable. The boards voted to authorize the town manager to execute the agreement; the motion passed by voice vote.
