The Flower Mound Town Council at a special meeting Monday night unanimously passed a resolution to consider the proposed creation of the Public Improvement District (PID) for the River Walk at Central Park at its regularly scheduled meeting on Aug. 19 at 6 p.m. at Town Hall.
At that Aug. 19 meeting, the town council will hear public testimony and input relative to the proposed River Walk PID, as well as consider the actual adoption of a resolution authorizing the creation of the PID.
If such a resolution is approved by the town council at that time, on or before Monday, Aug. 26, 2013, an election for or against the creation of the PID will be called for Nov. 5, 2013, in accordance with the Town Charter.
The proposed Riverwalk PID #1 would fund improvements at the 108-acre, mixed-use River Walk at Central Park development, such as an amphitheater, chapel, water features and monuments and be funded by a special assessment paid by property owners in the district.
Developer Centurion American Acquisitions’ President Merhdad Moayedi said that the River Walk will be developed whether there’s a PID or not.
“We are expecting to close on the property this Thursday [Aug. 1] and we’ll be starting to dig the river on Aug. 15,” said Moayedi. “People should realize that all our actions and plans are proof of our commitment to this development. The only thing a PID will do is allow the River Walk to be all it can be.”
Flower Mound Town Manager Jimmy Strathatos informed the council members that town staff will make their recommendations on whether the development will be sustainable.
“We know that there’s lots of pent-up demand from developers to move to Flower Mound,” said Strathatos. “We need to make sure that new developers will attract more than just Flower Mound residents; that all the new jobs will draw from outside. Just like Lakeside, we’ll look at the feasibility study to make sure there won’t be a lot of empty space.”
Moayedi said the feasibility study is expected to be completed in the next 10-days.
There are a set number of required steps for creation of a PID under the town charter.
The first step is a request to establish a PID. On July 12, 2013, the Baptist Foundation of Texas, a Texas non-profit corporation and owner of the land, submitted and filed with the Town Secretary a petition requesting the establishment of a PID for the property, which is part of the River Walk at Central Park.
The intended River Walk at Central Park developer, Centurion American Acquisitions, also requested the creation of a PID.
The second step is notification in a newspaper of general circulation in the town 15 days before the date of the public hearing for the creation of a PID. The July 29 special meeting resolution approving the public hearing on Aug. 19 satisfies the requirement.
At its Aug. 19 meeting, the town council will hear public testimony and receive public input about the creation of a PID for the River Walk acreage, as well as consider whether to move forward with the PID and whether to propose a resolution to place the item on a ballot for a special election to be held on Nov. 5, 2013.
For more information about the River Walk PID and the project, visit www.flower-mound.com/riverwalk.