Boyd annexation hearings planned

By Richard Greene | Published Saturday, February 9, 2019
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Boyd Mayor Pro Tem Mark Culpepper Tuesday night provided a brief moment of levity before the city council approved the resolution calling the two public hearings to annex 153 acres on Cemetery Road for the proposed Spring Hill South.

“It’s a little late to say no now!” Culpepper said.

The council has been working with developer Bob Shelton for more than a year and agreed to a pre-development agreement in November for the 595-home development.

Part of the agreement was Shelton voluntarily annexing the property into the city. Tuesday, the council accepted the petition for the annexation and called public hearings for Feb. 26 and March 19.

City Attorney Bradley Anderle said the council will have the opportunity to finalize the annexation and approve the annexation services agreement at the March 19 meeting.

“The agreement discusses what services will be provided,” Anderle said.

He added that it will cover utilities and public safety and will be ready for the council to review at its Feb. 26 meeting.

The council also accepted petitions from Shelton for the creation of the tax increment reinvestment zone (TIRZ) and public improvement district (PID). Hearings for the TIRZ and PID will be on March 19.

The PID would apply fixed assessments on properties in the development to pay back the bonds for infrastructure – water, sewer, drainage and roads. Two acres given to the city for utilities will not be in the PID.

The TIRZ would allow a portion of the taxes assessed in the area to be used to pay down the PID. As part of the agreement approved in November, the city agreed to a 50-50 split on the TIRZ up to a valuation of $210,000. That means half of the city’s tax rate levy on properties in the development would go toward paying off the bonds.

Anderle cautioned the council that the March 19 hearing for the TIRZ will include only half of the development.

Tax revenue on properties with a value above $210,000 garnered by the city would have to be spent on projects within the development and could be used to pay down bonds. There will be a 75-cent levy to pay the PID assessment to cover the bond payments for the initial infrastructure.

Boyd Mayor Rodney Holmes said the city is staying on the timeline presented by the developer to keep the project on pace.

“We’ve done our research and it’s time to get it done,” Holmes said.

Thomas Fletcher of Kimley-Horn, who is Shelton’s engineer on the project, said the preliminary plat is being completed and should be submitted by the end of February. He anticipated construction plans to be ready around September or October and homes could be under construction in 17 months.

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