KETR

Walton Development could be bigger

Oct 27, 2014

A huge master-planned, multi-use community just west of Greenville may be growing even larger than previously proposed.

Two meetings are scheduled this week for the board of directors overseeing the Walton Development. The agendas for the sessions include items calling for additional land as part of the development, and also splitting the development into two municipal utility districts.

The board of the Hunt County Municipal Utility District (MUD) No. 1 is scheduled to meet at noon Wednesday at 1445 Ross Avenue, Suite 4775, in Dallas. One of the items on the agenda calls for dividing the MUD into two districts.

The board is also set to meet at 2 p.m. Wednesday at 4367 FM 1569. During the session, the board is scheduled to approve a developer reimbursement agreement, accept a petition for the addition of land into the district and authorize a petition to the City of Greenville for the addition of land as part of the development.

In December 2013, the Greenville City Council approved a development agreement with Walton Development and the Hunt County MUD No. 1 The district covers almost 6,700 acres, some of which is located within the extraterritorial jurisdiction (ETJ) of the City of Greenville and is being conceived as a “phased generational master planned development.”. The city will be able to apply subdivision standards and land use regulations to help regulate the development within the district.

The Walton property is immune from “full purpose annexation” for the full 45 years under the agreement.

However, the city may annex property — but is not required to do so — if: (1) construction of the public infrastructure to serve full development of the property is complete; and (2) the district has issued bonds to reimburse the cost of the public infrastructure.

If those requirements are met, Walton and future owners waive any objections to annexation.

There is also the possibility of “limited purpose annexation”, under which the city shall have the right to annex areas that are intended for retail development for the sole and limited purpose of allowing the city to impose sales and use taxes.