Council approves development-agreement framework with Megatel; staff to finalize PID/TIRZ language
Caddo Mills council authorized the City Manager to execute a development agreement with Megatel pending final sign-offs; consultant Mary Petty explained adjustments to PID/TIRZ language including an example buy-down of an assessment from $1,000 to $850 to reflect market constraints.
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After more than two years of negotiations, the Caddo Mills City Council authorized the City Manager to execute a development agreement with developer Megatel pending final legal and professional sign-offs. City Manager Matt McMahan said the remaining work is to ensure the written agreement matches the terms discussed and approved by council.
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