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Council approves steps for Fox Landing: development agreement, TIRZ reimbursement contingency and PID creation
Summary
Caddo Mills council approved a development agreement with Oak National, authorized a TIRZ reimbursement arrangement contingent on final plan approval, and created the Fox Landing PID after a public hearing; all votes were unanimous.
Council members approved a development agreement with Oak National Development, LLC for the Fox Landing project and authorized the City Manager to negotiate a TIRZ reimbursement agreement with TIRZ No. 1 and JTM Acquisitions, Inc., contingent on future approval of a final plan. P3 Works' Mary Petty said staff were not approving the final plan at the meeting but requested council authorization to proceed once the final plan is approved.
The council also opened and closed a public hearing on creating a Fox Landing Public Improvement District, with Mary Petty confirming notices had been published and the proposal complied with Chapter 372. After no public testimony, Mayor Pro Tem John Verity moved to approve creation of the Fox Landing PID; the council voted unanimously to create the district. The actions enable staff to finalize agreements and to proceed with PID and TIRZ-related administration once required planning approvals occur.
