Flower Mound Council Approves Chapter 380 Agreement to Boost Furst Ranch Development

Flower Mound - Highland Village - Argyle

May 26, 2025 Maverick Tax Guardians

On May 14, 2025, the Flower Mound Town Council unanimously approved a Chapter 380 Agreement aimed at accelerating economic development within the expansive Furst Ranch project. This strategic move is designed to attract businesses and stimulate growth in the mixed-use development situated at the intersection of U.S. 377 and FM 1171.

The agreement permits the allocation of up to 30% of the captured growth in property tax revenues from Tax Increment Reinvestment Zone (TIRZ) No. 2 into a dedicated subaccount for economic development incentives. These funds will be available to qualifying businesses that meet specific criteria, including the construction of necessary public and private infrastructure and obtaining a certificate of occupancy from the town.

Director of Economic Development Ray Watson emphasized the importance of this program, stating, “The Economic Development Program serves to attract new business and commercial activity for the purpose of providing long-term economic benefits to the town. It needs to be in place to serve as a recruitment tool.”

While Flower Mound and Denton County have committed 80% of the taxable value’s growth to fund public improvements, only the town’s portion is eligible for economic development incentives. Denton County’s contribution will be exclusively used for public infrastructure enhancements.

Eligible projects for these incentives encompass a range of sectors, including grocery stores, restaurants, entertainment venues, and other commercial enterprises that align with the town’s development goals. Projects not explicitly listed in the agreement may still qualify but require approval from the TIRZ No. 2 Board of Directors.

This agreement marks a significant step forward in the realization of Furst Ranch’s vision, promising to bring new amenities and economic opportunities to Flower Mound residents.

Source
This news article is based on information from
Community Impact – “Furst Ranch Chapter 380 Agreement gains Flower Mound council approval”( May 23, 2025). Retrieved from:https://communityimpact.com/dallas-fort-worth/flower-mound-highland-village-argyle/development/2025/05/23/furst-ranch-chapter-380-agreement-gains-flower-mound-council-approval/