The town of Argyle is waiting for votes to be officially canvassed before it can know if its proposed Municipal Development District has been narrowly approved by voters.
Voters were evenly split on the town’s Proposition A to create the MDD in Tuesday’s election. According to unofficial election results on Thursday, 1,499 people voted in favor of the prop and 1,495 voted against, a margin of just four votes. A town spokesperson said the town is waiting until all votes are canvassed (verified) by the county elections office, which will be done within two weeks of Election Day. If the prop loses, staff will await further direction from Town Council, and if it passes, the Town Council will create the MDD.
A Municipal Development District is a special purpose district created for the purpose of generating economic development and growth opportunities within the boundaries of the district. The proposed Argyle MDD boundaries are generally a half-mile beyond the town limits of Argyle and includes the Extra-Territorial Jurisdiction if not otherwise included in an adjacent city or another city’s ETJ, according to a news release from the town of Argyle.
The town currently has a Type B Economic Development Corporation, which imposes a 0.25% sales tax within town limits. The proposed MDD would be able to continue imposing the same sales tax rate but extend the boundaries to include the town’s ETJ, according to the town.
The MDD would be able to perform the same types of projects as are currently allowed by the Type B EDC, such as retail, restaurant, parking, transportation, roads, public parks and other improvements.
The town had a second proposition on the ballot that is contingent on the MDD prop, and it was approved by voters, 1,456 to 906. It means that if the MDD is approved, the Argyle Economic Development Corporation would be terminated.
 GIF.gif)
