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Hunt County delays decision on joining Royce City reinvestment zone
Summary
Developers of a 184-acre mixed-use project told the Hunt County Commissioners Court the city plans a 20-year, 50% tax participation for a reinvestment zone that would include roughly 60 acres in Hunt County. Commissioners agreed to wait for Royce City's final terms before taking action.
Hunt County commissioners on March 10 heard a developer's request to participate in a reinvestment zone tied to a large mixed-use project in Royce City but deferred any vote until the city finalizes the zone's terms.
Carter Kendall, who identified himself as a Bermuda Capital LP landowner developing the site, told the court the full project encompasses about 184 acres, with roughly 60 acres in Hunt County at the northwest corner of I-30 and FM 2642. Kendall said the city's preliminary approach would ask participating taxing entities to share 50% of incremental taxes for 20 years and that the developer expected public infrastructure costs to be covered in part through that arrangement. "What we're looking for is partnership with Royce City to help get this deal off the ground," Kendall said.
County staff and the developer said the city has authorized staff to form the reinvestment zone (referred to in the record as a "TUR") and that Royce City will present the detailed agreement once drafted. Officials estimated the county's portion of the captured revenue would be modest in the near term and that the proposal's purpose is to fund major infrastructure improvements needed to make the site buildable.
Commissioners asked for clarity on acreage, the term and the revenue share, and raised standard concerns about approving terms before the city's document is finalized. Court members agreed not to take immediate final action and instead to wait for Royce City's completed agreement and return the item for county review and ratification. The court did not adopt a binding commitment at the March 10 session.
Procedural next steps: the county will review the final reinvestment-zone agreement when Royce City publishes it and bring the matter back to the Commissioners Court for formal action; staff flagged coordination with city utilities and infrastructure planning as part of that review.
Provenance: The discussion and developer presentation are recorded beginning in the meeting addendum at the introductory remarks (SEG 185) through the court's concluding questions and the court's decision to await the city's final document (SEG 591).
