Buda, MileStone sign term sheet

BUDA— MileStone Community Builders has agreed to the term sheet adopted by the Buda City Council, according to a news release. The city council issued a revised term sheet at its Oct. 17 meeting. The term sheet outlines the conditions under which the city council will consider bringing the project into the Buda city limits and serving the project with water and wastewater utilities, as previously reported by the Hays Free Press. According to the city, the development terms still need to be finalized in a development agreement, along with financing terms related to a public improvement district and tax increment reinvestment zone.

“While there are many things that still need to be worked out related to financing, annexation and finalizing the terms of the agreements, this step brings us closer to resolution on the Persimmon project,” said Buda City Manager Micah Grau. “The city council has worked extremely hard on this project to negotiate terms that are fair and that protect the interests of Buda against unchecked growth.”

With this action, city staff will resume negotiations on the final contract documents, which will be brought to city council in the coming months for final consideration, the release states. The city will continue to oppose the application filed by MileStone to create a municipal utility district through TCEQ.

“Our goal as a city council is to make the best deal for the city of Buda,” Mayor Lee Urbanovsky said, adding, “I believe MileStone’s agreement to the city’s revised term sheet is a step in that direction.”

For additional information on this project, visit bit.ly/40mExFu.