“I’m very excited about this,” Mayor Mike Snyder said. “I hope we get to a development agreement very quickly.”
The details
Not currently located within city limits, the proposed Crossroads Business Park involves an industrial complex with multiple buildings constructed over phases, said Steven Tinnin, the senior vice president of land at Epitome.
Although the developer doesn’t have plans to construct multifamily housing, Tinnin said the team had contemplated going that direction. The proposed development plan includes a provision to accommodate multifamily and commercial land uses.
“That is not our ongoing plan of attack at the moment,” Tinnin said.
Digging deeper
Plans for the development include creating a public improvement district.
“Hopefully over time, at full build-out, the city will benefit from north of $100 million property appraised value and the taxes that come along with that,” Tinnin said. “As of today, you’re getting none.”
Epitome has already secured water services through an agreement with Jonah Water. The team proposed an off-site wastewater extension of a city wastewater line, funded through the PID.
“One of the reasons this project has taken so long was to secure the easement to be able to build that line,” Tinnin said. “We now have an agreement with the property owner.”
The extension of the waterline would also open up other development opportunities for the city in that area, according to Tinnin.
One more thing
As part of the development, Epitome would fund an extension of the SH 130 northbound frontage road where it gaps in front of the property, as well as a collector road inside the property.
What’s next?
Council will revisit the plan at its July 10 meeting.
