City of Brownwood Awards Financial Services Contract to Mustang Ridge Venture Capital Llc (June 2025)

The Brownwood City Council ratified an incentive package and approved a Chapter 380 agreement with Mustang Ridge Venture Capital LLC for the Preserve on Mustang Ridge, a roughly $20 million, 110-unit duplex development. The deal provides up to $650,000 in infrastructure reimbursements over two years and about $372,000 in tiered property tax rebates over five years, with the developer funding remaining infrastructure costs.

Scope & details

The full contract record, as filed.

Contract amount

Not to exceed $650,000 BMDD reimbursement over two years plus about $372,000 in property tax rebates over five years

Contract type

FINANCIAL_SERVICES

Contract term

Approximately 2–3 year construction period; BMDD reimbursements over 2 years; property tax rebates over 5 years

Renewal

Chapter 380 agreement includes multi‑year tax rebate and reimbursement obligations; specific renewal or extension options are not described in the minutes.

Document type

Minutes

Source document

city_council_minutes_june_24_2025.pdf

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Brownwood?

Mustang Ridge Venture Capital Llc was awarded this financial services contract by City of Brownwood, as recorded on June 24, 2025. The contract value is Not to exceed $650,000 BMDD reimbursement over two years plus about $372,000 in property tax rebates over five years.

How much is the Mustang Ridge Venture Capital Llc contract with City of Brownwood worth?

The Mustang Ridge Venture Capital Llc contract with City of Brownwood is valued at Not to exceed $650,000 BMDD reimbursement over two years plus about $372,000 in property tax rebates over five years, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in city_council_minutes_june_24_2025.pdf (Minutes), dated June 24, 2025 from City of Brownwood. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Mustang Ridge Venture Capital Llc hold?

Mustang Ridge Venture Capital Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Mustang Ridge Venture Capital Llc's profile

What is City of Brownwood currently buying?

Explore City of Brownwood's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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