Round Rock City Council voted unanimously Jan. 24 to approve a memorandum of understanding with KB Home Lone Star Inc. for the development near the intersection of SH 130 and University Boulevard. An MOU is a nonbinding document that acknowledges an agreement before legal action is in place.
The development would include roughly 1,200 homes built over 350 acres in Round Rock's extraterritorial jurisdiction, according to the MOU. KB Homes would agree to voluntarily annex the development into the city and follow zoning regulations in place for similar residential developments.
According to the MOU, council would consent to the creation of a municipal utility district, which would levy taxes on the property owners in the subdivision to reimburse the developer for the construction of public infrastructure within the development.
Wiseman said the development as planned would be similar to the Vizcaya subdivision in terms of size and scope.
Early plans for the development include a small commercial strip in front of the development along University Boulevard.