Management district petitions for taxing capability within Grand Central Park

[caption id="attachment_105143" align="alignnone" width="700"] Management district No. 1[/caption]

Conroe Municipal Management District No. 1 is asking voters to approve $468.05 million in bonds and the authority to levy property taxes to pay for those bonds during the Nov. 3 election.

The management district encompasses the 2,046-acre Grand Central Park development, which is under construction in Conroe by Johnson Development Corp.

In five separate ballot propositions, the district is asking voters to approve $250.8 million in bonds for water, sanitary sewer, drainage and storm sewer systems; $29.7 million in bonds for recreational facilities; and $187.55 million in bonds for road facilities, according to Montgomery County.

The district is also asking for the right to levy property taxes within its boundaries in its fourth and fifth propositions to pay for the bonds.

Management district general counsel Richard Muller, an attorney with The Muller Law Group PLLC., said the district would use bonded funds to build infrastructure.

Muller said only residents within Grand Central Park would pay property taxes to the district in an effort to reduce the taxing strain on other Conroe residents.

“The idea is that you have the development pay for itself as opposed to asking the city of Conroe taxpayers to pay for water, sewer and drainage infrastructure,” Muller said. “So you have a special district created that covers just the development that is being done, and those property owners pay for the infrastructure necessary.”

Once complete, the 2,046-acre Grand Central Park will consist of 500 homes in the development’s West Village as well as shopping, dining, office and recreational space.