Leander city council approves land deal
Austin American Statesman– By Miguel Liscano
The Leander City Council tonight unanimously approved a land agreement to develop about 2,000 acres of land next to the city’s largest masterplanned community.
The agreement allows local developer Bill Hinckley, president of Lookout Partners LP, to begin building roads and utilities on the land for a future mixed-use project southwest of the 3,000-acre Crystal Falls community and golf course.
Hinckley hopes to eventually build as many as 6,000 homes, along with offices and retail on the land. That would be in addition to the 5,000 to 6,000 homes planned for Crystal Falls, of which about 1,300 have been built.
Hinckley said he doesn’t plan to start building for three to ten years. According to the agreement, the city would annex about 90 percent of Hinckley’s land that lies in its extraterritorial jurisdiction.
To help him recoup the cost of building roads and utilities, Hinckley would get 35 percent of the property taxes collected by the city within the development boundaries during a 20-year period, if he creates a intercity municipal utility district.