Boyd OKs pre-development pact for 600-home addition

Share this page...

The near 600-home Springhill South development in Boyd took a significant step toward becoming a reality Tuesday night.
Boyd Mayor Rodney Holmes signed a pre-development agreement on the proposed addition on 160 acres along Cemetery Road after getting approval of the city council. Boyd City Administrator Greg Arrington said he has an email from developer Bob Shelton confirming his intent to sign off on the agreed terms.
One of the key terms in the agreement is the city annexing the development. When talks began in January, the development was looking to be in the city’s extraterritorial jurisdiction (ETJ). The other terms in the pre-development agreement are the establishment of a $25,000 escrow account for professional fees, the development pursing a Public Improvement District (PID) rather than a Municipal Utility District (MUD) and the city zoning the area under a planned development agreement.
“They agreed to exactly what we asked them to do,” Holmes said.
Pointing to the $25,000 escrow account, Holmes said the city will be covered if the development does not happen, with profession fees being paid for by the developer. The city’s engineer Michael Anderson of Belcheff and Associates said professional fees will be deducted from the account and it would be replenished by the developer each month.
“I just want to make sure that any cost incurred on this development if it falls apart does not come out of the pockets of our citizens,” Holmes said. “That’s the reason for the escrow.”
Shelton had originally proposed to stay in the ETJ and build to the city’s regulations under the subdivision ordinance as he sought a MUD to build the infrastructure for the development. A MUD would levy taxes within the district to repay the developer for the infrastructure. In a PID, fixed assessments on properties in the development are used pay back the bonds rather than taxes.
Anderson said he is comfortable with Shelton and his team of engineers having seen them complete a project in Ponder with similar terms.
The council appointed Holmes, Arrington, Anderson, Police Chief Dwayne Taylor and Public Works Director Adam Lambert to a planned development committee to meet with Shelton’s engineers as plans are submitted. The advisory committee will report to the council.

Print This Page Print This Page

Leave a Reply. Note: As of March 24, 2011, all posted comments will include the users full name.

WCMessenger.com News and Blog Comment Guidelines

You must be logged in to post a comment.