The Pilot Point City Council handed a slate of Public Improvement District bond packages for Bryson Ranch and Tax Increment Reinvestment Zone creations and realignments for several upcoming developments during its April 24 meeting.
Hilltop Securities Managing Director Jason Hughes presented on the PID package, which included two zones— each split into two areas.
“This development has over 3,100 lots, and once fully built out the estimated addition to the tax roll is about $1.4 billion,” Hughes said. “The way the bonds are replayed is from the as- sessments levied solely within each individual PID, so there are no city taxes that go into the repayment of these bonds.”
Council unanimously approved each of the four items related to the PID bonds.
Earlier in the meeting, council also approved a Chapter 380 Incentive Agreement with Bryson Ranch, which has been a part of negotiations and the development agreement since 2023.
“I personally do not like Chapter 380s,” Mayor Pro Tem Andrew Ambrosio said. “However, I will say council and staff did an excellent job in requiring better development standards [here]. I believe this development is a good deal. It was a double-edged sword in giving them this 380 versus letting them develop whatever they want. I don’t think we have any Chapter 380s after this. We’ve been doing a lot of TIRZ/PID paydowns, which is preferable.”
The final regular agenda item saw council approve an expansion of the ETJ to prepare for another upcoming development, Pecan Creek.
“Pecan Creek has new ownership,” Development Services Director John Taylor said. “That new ownership has indicated a desire for the city to annex the property. It’s currently not all in the ETJ.”
Mayor Elisa Beasley asked for further clarification, which City Manager Britt Lusk provided.
“This actually does not have a development agreement on it,” Lusk said. “We went down a long spell with the previous owners to get this to a development agreement, and we were almost there when they sold the property to an investment group. The investment group has entered into a contract to sell to another developer. In talking with the new group, they are interested.”
Council unanimously approved the item.
