New names have been bestowed upon two major residential developments planned for the northwest corner of Hunt County.
The Double R Ranch Municipal Utility Districts No. 1 and No. 2, being developed within a few miles of each other for a region not far from the City of Josephine along the Hunt/Collin county line, are also smaller than first announced.
Classified advertisements giving notice that a group plans to petition Texas lawmakers for their creation are included in today’s Herald-Banner.
Similar announcements appeared in the newspaper in January, identifying the districts as Collin-Hunt Counties Municipal Utility District No. 1 and No. 2
The two districts were originally proposed to cover a total of 1,389 acres and now are being proposed to cover a total of 839 acres. Each includes land already owned by the D.R. Horton family.
“We have reduced the acreage and also changed the names of the district, which required the new publication,” said attorney Melina Koenhe with the Coats Rose legal firm, which placed the announcements.
Double R Ranch Municipal Utility District No. 1 is described as covering 95 acres on a single tract of land located on or Near FM 1777, approximately one mile south of FM 6.
Double R Ranch Municipal Utility District No. 2 is described as covering 744 acres in Collin and Hunt counties, including four tracts of land, located on or near FM 6 and approximately one mile east of FM 1777.
The 84th Texas Legislature will be asked to pass bills calling for the creation of the districts and, if that occurs the next step will be to receive the approval of voters who live within the boundaries of the district, in an election either this November or in May 2016.
Municipal utility districts (MUDs) are a tool developers can use to help pay for the establishment of infrastructure such as roads as well as water and sewer lines, with bonds sold to pay off the debt incurred through the establishment of an ad valorem tax rate within the district.
In other words, the developers can sell bonds to raise the money for plumbing and roads in the district, and then institute a property tax on those living within the district to pay off the bonds.