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Caddo Mills council approves Caddo Pointe development agreement for 700–800 homes
Summary
Council unanimously approved a development agreement with Code Complete, LLC for the Caddo Pointe Addition, a 700–800-home project that would wrap around the new high school and include a proposed TIRZ #2; the agreement relies on the TIRZ remaining in place.
The Caddo Mills City Council on Feb. 11 unanimously approved a development agreement with Code Complete, LLC for the Caddo Pointe Addition, a residential project the city describes as adding between 700 and 800 homes surrounding the new high school.
City Manager Matt McMahan told the council the project would use an MMD rather than a PID and “this would also bring TIRZ #2 which was part of this development agreement,” adding that the development agreement is tied to the TIRZ process. McMahan said that if the TIRZ were not approved the agreement would need to be renegotiated: “if the TIRZ fell through the whole development agreement would fall apart.”
City Attorney Susan Thomas briefed council members on the financing tools being used and the difference between an MMD and a PID. Council member Shawn Bentley asked whether the agreement would change if the TIRZ failed; McMahan reiterated that renegotiation would be required but he did not anticipate that outcome.
Mayor Pro Tem John Verity moved to approve the development agreement; Council Member Justin Poppelreiter seconded and the vote was unanimous. The council did not attach a revised schedule or adoption condition in the discussion; staff will proceed under the terms presented and coordinate TIRZ approvals as needed.
