Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Legacy Ridge Development topic
No spam. Unsubscribe anytime.
Bonham council establishes Legacy Ridge PID and TIRZ, approves annexation and zoning for large new subdivision
Summary
Council created The Legacy Ridge Public Improvement District and designated Reinvestment Zone Number Four to support infrastructure for a planned single‑family development; council also annexed about 25.32 acres, approved PD zoning for Phase 4 and adopted a concept plan. All votes were unanimous.
The Bonham City Council on July 13 approved a package of actions to enable the Legacy Ridge residential development, including creating a Public Improvement District (PID), designating a tax increment reinvestment zone, annexing acreage into the city, and approving Planned Development zoning and a concept plan.
City Manager Sean Pate told the council the Legacy Ridge PID would support water, sewer, drainage and street construction for roughly 440 new homes, with assessments levied phase‑by‑phase and mandatory homeowners association maintenance for private amenities. "PID assessments are separate from property taxes and may last 20 to 40 years," Pate said. The meeting materials capped the combined tax and assessment burden at $3.09 per $100 of assessed value. Council adopted a resolution creating the PID (motion by Sam Fox, second by Ernie Quintana); the vote was 6‑0.
Pate also presented the proposed Reinvestment Zone Number Four (TIRZ 4) to finance eligible public improvements through tax increment revenues for approximately 94.894 acres. The preliminary plan projects a current base value of about $1,654,645 and an estimated build‑out appraised value of roughly $159,885,459, producing an incremental value of approximately $158,230,814. Over the life of the zone, staff projected about $42,302,143 in incremental real property tax revenue; the ordinance sets a maximum TIRZ contribution of $20,000,000 (described in the plan as approximately $19.4M in a Chapter 380 grant to the developer and $600,000 for administrative costs). Council approved the ordinance designating Reinvestment Zone Number Four with an amendment changing "Country Club Road" to "Country Club Drive" in the ordinance text (motion by Ernie Quintana, second by Wolf Laughing); the vote was 6‑0.
Council also voted unanimously to annex a separate 25.320‑acre tract at the northwest corner of U.S. Highway 82 and Country Club Drive into the city, adopt a service plan for that territory, and approve Planned Development (PD‑R) zoning and the associated concept plan for Legacy Ridge Phase 4. Ross Altobelli, Director of Community Development, said the zoning and concept plan comply with previously approved development agreements and the Planning & Zoning Commission recommendation.
The actions together establish the financing and land‑use approvals the developer will use to move forward on infrastructure and home construction. Council members recorded no dissent; each motion carried by a 6‑0 vote.
