Regional Water System
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Preliminary Development Agreement with BD Acquisitions LLC
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SUBJECT
recommendation
Authorize execution of a Preliminary Development Agreement with BD Acquisitions LLC, a subsidiary of Lakewood Capital Group, to construct and use shoreline improvements 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
BD 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 The Peninsula and The Shores at the Peninsula. 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 BD Acquisitions LLC and the Lease and Use Agreement required by the Preliminary Development Agreement with the future property owners association, as follows:
Consultant:
BD Acquisitions LLC
Scope:
Preliminary Development Agreement
Contract Term:
5-years
Committee:
This will be an item on the September 25, 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 reservoir developed to meet the needs of the NTMWD's Member Cities and Cu...
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