Title
Consider a resolution consenting to the creation of Round Rock Municipal Utility District No. 3.
Body
This resolution will consent to the creation of Round Rock Municipal Utility District (MUD) No. 3.
The Briggs property, containing approximately 230.08 acres of land, is the area that will be contained in the MUD. It will be developed in accordance with SF-3 (Single Family - Mixed Lot) zoning and subdivision standards. All typical fees will apply, including utility and roadway impact fees, and the project will be required to go through the city's permitting processes. The subdivision is proposed to contain over 900 single-family homes.
The purpose of the MUD is to provide the developer of the property an alternate way to finance the necessary infrastructure within its boundaries, including water, sewer, drainage, and road facilities, as allowed by Texas Local Government Code. The MUD will be managed by a Board of Directors elected by property owners in its jurisdiction. It may issue bonds to reimburse a developer for authorized improvements, using property tax revenues and user fees received from water and sewer services to repay the debt. Since the MUD will be within the city limits, all city services will be provided to the residents. Property taxes from both the City and the MUD will be applied to the properties within the MUD. The combined tax rate for property owners in the MUD will be comparable to the two existing in-city MUDs (Salerno and Homestead at Old Settlers Park), which were both established in 2019 and are still being built out.
This is the final item in a series related to the creation of the in-city MUD. Prior items included accepting land into the city's ETJ, executing a municipal services agreement for two tracts of land, annexing those two tracts of land, amending the Comprehensive Plan Future Land Use Map to designate newly-accepted land for residential development, zoning for the proposed in-city MUD, and the consent and develo...
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