By Emilie Parten, The Reporter on the Rove
In a meeting held last week, the Oak Valley City Council gathered to talk to concerned residents about the agreement between Riot Corsicana and Oak Valley.
The agreement has been passed back and forth between the municipality and Riot for more than 6 months.
Settling terms between the two, ensuring an ironclad agreement is held for the next 45 years.
The agreement, once signed by both parties, will be recorded with the deed records of Navarro County, Texas.
The property meets approximately 265.71 acres of undeveloped property, settled entirely within county lines.
What Riot uses that property for is not restricted, allowing them to subdivide in any way Riot chooses and will also not be subjected to building codes except where applicable to the development of the property. The property will not be subjected to ordinances enforced by Oak Valley except to the extent that an ordinance would apply to the development of the property.
Oak Valley will be the sole governing regulatory authority over the development and subdividing of the property. Riot is expected to submit to Oak Valley their plans and specifications for infrastructure before construction begins, bids are advertised for or proposals for improvement are requested.
Additionally, Riot is not required to obtain building permits, inspections of certificates of occupancy from Oak Valley. No fees will be charged to Riot except for standard application and review fees. Oak Valley will not be providing water or sewer services to the property and the owner is expected to manage drainage improvements as needed by Governing Regulations.
The agreement can be terminated at any time by either party by a mutual written agreement.
Section 7.03 of the agreement discusses Ad Valorem Taxes, granting Riot a rebate if such a tax is ever implemented. Should a rebate be denied by the city, the clause allows Riot to de-annex from Oak Valley.
During the meeting, Mayor Max Taylor discussed how unhelpful initiating an Ad Valorem tax would be, comparing it to spending $10 to make a dime.
The city of Oak Valley stands to gain over a million dollars in franchising fees by annexing Riot Corsicana, as opposed to $50,000 in taxes on all residents.
This clause ensures, as long as the City Council is competent, that the City of Oak Valley and all its annexed residents will remain tax free for the extent of the agreement.
The members of Oak Valley council unanimously voted to accept this agreement and have signed the contract and will be sending the agreement to Riot Corsicana for its final signature.
The Town of Oak Valley will host a public forum prior to the May 13th meeting, beginning at 5:30 P.M. The public is encouraged to attend and participate in the forum.
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