Regional Water System
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Preliminary Development Agreement with Bois d'Arc Lake Acquisitions, LLC
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SUBJECT
recommendation
Authorize execution of a Preliminary Development Agreement with Bois d'Arc Lake Acquisitions, LLC, a subsidiary of Lakewood Capital Group, to construct improvements and use shoreline on NTMWD property adjacent to Bois d'Arc Lake for residential purposes and authorize the subsequent execution of a Lease and Use Agreement with the future property owners association (POA) who will own the improvements as required by the Preliminary Development Agreement.
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PURPOSE
Bois d'Arc Lake Acquisitions, LLC is a residential property developer that wishes to construct certain improvements and to use NTMWD property adjacent to Bois d'Arc Lake for its residential development called Five Points and the Harbor at Five Points. The NTMWD Bois d'Arc Lake Shoreline Management Plan allows for such improvements and provides that shoreline uses associated with planned residential developments may be authorized by separate agreements.
RECOMMENDATION
The Executive Director and NTMWD staff recommend the Board of Directors authorize the Executive Director to execute a Preliminary Development Agreement with Bois d'Arc Lake Acquisitions, LLC and the Lease and Use Agreement required by the Preliminary Development Agreement with the future property owners association, as follows:
Contracting Party:
Bois d'Arc Lake Acquisitions, LLC
Scope:
Preliminary Development Agreement
Contract Term:
5-years
Committee:
This will be an item on the November 20, 2024, Real Estate Committee meeting agenda
DRIVER(S) FOR THIS PROJECT
Strategic Objective:
3.2 Engaged Members, Customers and Stakeholders
? Regulatory Compliance
? Asset Condition
? Capacity
? Redundancy/Resiliency
? Relocation or External Requests
? Operational Efficiency
? Safety
? Administrative
? Policy
? Other _____________
BACKGROUND
* Bois d'Arc Lake (the Lake) is a water supply reservo...
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