Flower Mound TIRZ Board Unanimously Approves First Ranch Phase 1 Development Agreement

The Flower Mound Tax Increment Reinvestment Zone Board No. 2 unanimously approved a development agreement for First Ranch Phase 1 at a brief meeting, the board’s presiding officer said.

Lee Rodriguez, who identified himself as a town staff member, presented the development agreement and a list of associated capital projects, saying the scope includes arterial and mixed-use collector roadways, a traffic signal, water and sanitary sewer lines and a water reuse line. "The estimated project cost is about 22,200,000.0," Rodriguez said.

Rodriguez described how the project will be funded: primarily through TIRZ revenues and development impact fees from the First Ranch area, with an interlocal cooperation agreement with Denton County for roughly $12,000,000 to be applied toward roadway construction. "Construction of the capital projects are expected to be completed by December 2026," he said.

After the presentation the board moved and seconded approval of the agreement. The clerk called the roll and each listed representative voted "Aye," and the presiding officer announced that item D1 passed by unanimous vote.

The board also approved the prior meeting minutes by a separate unanimous roll-call vote earlier in the session.

With the business concluded the presiding officer noted the time and adjourned the meeting.