The Planning and Zoning Commission recommended approval of the development agreement March 26.
City Manager Micah Grau said council still had questions regarding the MUD.
“There’s just some questions on some of those numbers that we want to be able to sort out,” Grau told Community Impact.
Project details
The Reserve would be developed adjacent to The Colony development along Cole Springs Road and is primarily within the city’s ETJ, according to agenda documents.
The proposed development would have 235 single-family homes and a neighborhood park featuring a pavilion, playground and trails. The creation of the MUD will help finance the project and bring in about $10.5 million in new transportation improvements.
Cost to the district
The project is anticipated to cost about $33 million, with a projected district tax rebate of 75%.
What's next?
The development will come back to the dais April 16.
