Community Impact reports that in a unanimous vote on April 8th the Montgomery City Council approved a memorandum of understanding with BCS Capital Development for a mixed-use project on 32.72 acres that will include public infrastructure improvements.
In regard to the development near the intersection of Lone Star Parkway and Highway 105 near Home Depot, the MOU outlines a cost-sharing agreement for water and sewer infrastructure extensions, roadway connections and other improvements.
The City Council is agreeing to reimburse the cost of the improvements up to $4.8 million to the developer through a combination that could include sales tax revenue, ad valorem taxes and potential grants.
The project includes:
–In order to enhance flow and pressure in the area, water utility extensions from Lone Star Parkway to CB Stewart Drive
–In order to support future development phases, sewer improvements near Pump Station No. 12
–Potential landscaping enhancements and roadway upgrades
City Engineer Chris Roznovsky said the city will not take ownership of the detention pond.
Mayor Sara Countryman said the $4.8 million dollar agreement cap limits it to actual infrastructure costs collected by the developer. The developer will not get paid back additional funds other than what will be spent.
The need to rezone approximately 13 to 14.5 acres of the northern site from commercial to multifamily zoning in the future was also discussed by the council. Landscaping commitments were also addressed.
