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Council ratifies PID and development agreement actions, schedules public hearing for new PID
Summary
The council ratified consent to the creation of Caddo Pointe MMD, approved a PID reimbursement amendment with Fieldside Development, approved a first amendment to a development agreement (name change to Enclaves of the Bahamas), and accepted a petition to create the Enclave of Bahamas PID and called a public hearing; all actions were unanimous.
City Attorney Susan Thomas told the council the resolution consenting to the creation of the Caddo Pointe Municipal Management District had been part of an earlier development agreement and required a separate formal resolution to ratify. The council approved the resolution unanimously.
Thomas also presented a resolution approving a First Amendment to a PID Reimbursement Agreement between Fieldside Development, LLC (Caddo Mills Crossing) and the city, noting the amendment extended a development agreement deadline to permit finalization prior to PID bond issuance. She then described a First Amendment to a development agreement changing the developer name from Laguna Land Azure (Megatel) to the Enclaves of the Bahamas and correcting a legal description. Finally, the council accepted a petition to create the Enclave of Bahamas Public Improvement District and called a public hearing; the City Secretary was authorized to issue notice. All motions carried by unanimous vote.
