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TIRZ No. 2 approves Canyon Falls Village 3 development agreement
Summary
Flower Mound’s TIRZ No. 2 unanimously approved a development agreement for Canyon Falls Village 3, a 66-home project on 27 acres that includes road and water/reuse improvements and an estimated $3.7 million developer balance after impact-fee credits.
Flower Mound’s Tax Increment Reinvestment Zone No. 2 unanimously approved a development agreement for the Canyon Falls Village 3 subdivision on a motion and roll call vote.
Town staff presenter Lee Rodriguez told the board the agreement covers development of 66 single-family homes on about 27 acres and includes capital projects listed in the town master plan, notably four-lane expansions on Denton Creek Boulevard and on Mokey Road plus associated water and reuse-line work. Rodriguez said the agreement is structured to reimburse the developer for eligible capital costs and to allow…
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