During its Feb. 14 meeting, the Magnolia City Council unanimously approved a utility development and escrow agreement with Magnolia East 149—managed by Magnolia Place developer Stratus Properties Inc.—for a water supply plant.
The plant, which will be located on 2.9 acres that Magnolia East 149 owns, is estimated to cost $6.29 million and will include a 1,500-gallon-per-minute water well, control building, generator, 10,000-gallon hydro tank, three 1,500-gallon-per-minute booster pumps and a 400,000-gallon ground storage tank, according to the Feb. 14 agenda packet.
“We’re happy to help get this done,” Chessie Zimmerman, a representative of development company Stratus Properties Inc., said during the meeting.
Through the agreement, Magnolia East 149 would facilitate and administer the design and construction of the project in exchange for the city funding and owning it after completion, according to the agenda packet.
A timeline for the project was not outlined in the agreement, according to the agenda packet.
This agreement comes amid a temporary development moratorium that was enacted Dec. 21.
View the utility development and escrow agreement below.