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Council reviews early plan to redevelop Yearwood quarry and developer's request for higher MUD tax rate
Summary
City staff and developer Freehold Communities presented an early concept for the 728‑acre Yearwood property, an active quarry, and requested exceptions to Georgetown's MUD policy including a maximum MUD tax of up to 75¢ (policy cap 55¢), a 15‑year bond issuance period (policy 10 years) and increased age‑restricted product. Council asked for more detail on finances, fire access and impact‑fee phasing.
Freehold Communities and city staff on Thursday gave Georgetown's City Council an early look at a plan to redevelop the 728‑acre Yearwood property, currently an active quarry, and a request to allow the project to proceed as an in‑city Municipal Utility District (MUD) with several exceptions to council policy.
Nick (staff), who led the presentation, said the goal was to get feedback early on the project's land plan and where it may deviate from the city's MUD policy. He told the council the site includes spring‑fed quarry lakes, 25‑ to 30‑foot quarry walls and a future Northlands wastewater treatment plant within the property. Staff is proposing a broader comprehensive plan amendment for the area rather than piecemeal changes for single parcels.
Matt Matthews of Freehold Communities outlined the concept plan and financing constraints tied to redeveloping a…
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