With just one vote, approve a $1.4 billion bond and elect a board to create a water district to serve an undeveloped portion of the Réunion master-planned community near Rome. It was everything I needed. Reunion is located on land formerly known as the Roaring V Ranch.
Peter Pinkoffs, a partner at Dallas-based PMB Capital Investments, said the Texas Election Code and the Texas Water Act allow water districts to be created with a simple majority vote.
“In this case, there was only one registered voter who resided within the district boundaries and was eligible to vote in favor of the district’s ballot proposal,” Pinkoffs wrote.
The seven ballot proposals to create the Roaring V Ranch Water Management Improvement District District 4 include $1.047 billion for drainage, sewer, water and storm sewer facilities and $377.8 million for roads, $1 per $100. It included authorizing a maintenance and operation tax not to exceed . A maintenance and operation tax not to exceed 25 cents per $100 of road taxes payable on the assessed value of district operations and water and sewer facilities, and a bond levy on master district road bonds.
The vote also included approval by the water district’s board of directors.
The water district is located at the southern end of Rolling V and covers about 700 acres, Pinkoffs said. DR Horton purchased the first phase and recently began grading 450 lots, he said.
The development at the former Rolling V Ranch at Texas 114th and US 287 will eventually bring 10,000 homes and thousands of students to the Northwestern School District.
Development is underway in Réunion and Bluestem, primarily along FM 3433, Pinkoffs said.
Approximately 850 lots have been completed and another 575 are under development, Pinkoffs said.
“No commercial development is underway, but we will share updates as they become available,” Pinkoffs said.
