Title
Consider/Discuss/Act on a Third Amendment to the Development Agreement with McKinney Ranch, LTD., Honey Creek Investments, LLC, and Barcelona 93, Ltd., Governing the Development of Wildwood, Formerly Known as Honey Creek, which is Generally Located East of FM 1461 (Future Lake Forest Drive) and County Road 166 and South of County Road 168 and FM 543
Summary
COUNCIL GOAL: Direction for Strategic and Economic Growth
(1.1: Provide a strong economy by facilitating a balance between industrial, commercial, residential, and open space)
MEETING DATE: November 17, 2026
DEPARTMENT: Development Services
CONTACT: Michael Quint, Executive Director of Development Services
RECOMMENDED CITY COUNCIL ACTION:
Staff recommends that the City Council approve the proposed development agreement amendment.
ITEM SUMMARY:
Staff and Republic Property Group, the Developer of the Wildwood master planned community, have been negotiating modified development terms to govern the Subject Property. A term sheet serving as the foundation for the drafting and negotiation of the proposed development agreement amendment was approved by the City Council on May 19, 2026. The modified development terms generally include shifting the reconstruction obligations for the two dams on-site to the District, shifting the obligation to build lanes three and four of Laud Howell to the City, and increasing the Municipal Management District's maximum debt issuance from $350 million to $400 million.
BACKGROUND INFORMATION:
Since September 2025, Staff and the Developer have been negotiating modified development terms to govern the Subject Property. The Subject Property encompasses the development referred to as Wildwood, formerly known as Honey Creek, and is subject to Honey Creek Municipal Management District (MMD) No. 1 (the District), which is generally located east of FM 1461 (Future Lake Forest Drive) and County Road 166 and south of County Road 168 and FM 543.
Since the City Council’s ...
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