Hutto City Council voted June 20 in favor of tax payment mechanisms related to the Mustang Creek project, a residential development planned for FM 1660.
The Mustang Creek project, located within the Packsaddle Tracts, encompasses approximately 170 acres’ worth of land, with 506 single family homes planned for the development. Rick Rosenberg, the managing principal of Development Planning & Financing Group Inc., gave an overview of the project at the June 20 meeting and provided further details regarding the Public Improvement District—or PID—related to it.
A PID is a geographical area designated for specific types of improvement projects, which can be financed through its property owners, according to the city of Hutto. Under the Mustang Creek Project approved by the Hutto City Council, the $9.3 million PID will exist for 35 years. At the end of its term, the tax entity will dissolve and residents will no longer pay associated taxes.
Rosenberg advocated in favor of a more transparent PID payment for potential home buyers during the June 20 meeting. He said that residents within the Mustang Creek development would receive full disclosure of the added tax costs and be able to acknowledge their understanding of the payment before leasing a property.
The project, primarily slated as a residential development, will designate some acreage for commercial use and land for the Hutto Bible Church, which will relocate due to the Co-Op District project.
Both the creation and authorization of the Mustang Creek PID as well as the service and assessment plan related to it were passed unanimously by the council June 20, with Councilmember Mike Snyder absent from the meeting.