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Welcome to town: Annexation of future subdivision complete

By Richard Greene | Published Saturday, March 23, 2019
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The 153 acres on Cemetery Road for the future Spring Hill South development is now officially in the Boyd city limits.

The Boyd City Council approved the voluntary annexation of the property for the 595-home addition Tuesday. The annexation was completed 14 months after Denton developer Bob Shelton first broached the project with the council.

“We appreciate the way the city has worked with us,” Shelton said. “We look forward to doing more business with the city and bringing a nice project to town.”

Along with the annexation, the council approved the annexation agreement. As part of the pact, the city agreed to provide police and fire protection, waste collection, water and wastewater and maintenance of roads and parks.

The council also approved the creation of the tax increment reinvestment zone (TIRZ) and public improvement district (PID).

The City of Boyd PID No. 1 will 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 is not in the PID.

TIRZ No. 1 will include 77.689 acres. The TIRZ will 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.

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.

The total projected tax rate with Wise County, Boyd ISD, Boyd, Wise County Emergency Service District No. 1, Weatherford College Wise County and WCID No. 1 rates, for a lot is expected to be $2.75 per $100 of valuation with the PID assessment.

Total improvements are expected to cost $7.89 million with $5.755 million in the TIRZ.

Boyd Mayor Rodney Holmes said the PID and TIRZ agreements will keep current residents from paying for the development and its impacts on city utilities and resources.

“My whole plan was to make sure any developments that come into the city do not cost the citizens that already live here any money out of their ad valorem taxes, and the developments take care of themselves,” Holmes said. “The PID will put in all the infrastructure, and those people will pay that on top of their taxes. The TIRZ will cover any costs of that infrastructure that needs to be put in outside of the development. They will also be paying that. We will be paying 50 percent back to pay for that, but that’s only the taxes that we collect out of that development. Those people are paying for that also.

“I think it will be very beneficial to the city. Growth is coming. All we can do is manage it. There’s nothing we can do about it.”

With annexation complete, Shelton and his team can now start on plats and plans for the development.

Thomas Fletcher of Kimley-Horn, who is Shelton’s engineer on the project, said they will be working on a replat and preliminary plat to have ready in the coming months.

“The preliminary plat will establish the preliminary utilities and overall layout,” Fletcher said. “After that will be phase 1 of the final plat construction plans. The replat and the preliminary plat will probably be a 25- to 60-day process. The construction plans will take a while after that. At this point we don’t have a scheduled date for turning dirt. We’re still several months away.”

In February, Fletcher anticipated construction plans to be ready around September or October and homes could be under construction in 17 months.

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