FINANCIAL_SERVICESPENDING

City of Gunter TIRZ No. 3 Board Meeting Agenda Packet May 2026

TIRZ 380 Incentive Agreement for MM Platinum Ranch

Up to $157,000,000.00 (TIRZ grant funded by 33.37% of City's ad valorem tax increment after administrative expenses)City of GunterMM PLATINUM RANCH LLCMay 18, 2026

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Description

The Gunter TIRZ No. 3 Board is considering authorization of a Chapter 380 Economic Development Agreement with MM Platinum Ranch LLC, dedicating a portion of the City's TIRZ tax increment to an economic development grant. The agreement would run for up to 40 years or until $157 million in TIRZ-funded grants have been paid, to support infrastructure and development within the Platinum Ranch project.

Contract Details

Contract Amount

Up to $157,000,000.00 (TIRZ grant funded by 33.37% of City's ad valorem tax increment after administrative expenses)

Vendor

MM PLATINUM RANCH LLC

Agency

City of Gunter, TX

Contract Type

FINANCIAL_SERVICES

Document Date

May 18, 2026

Contract Term

Up to forty (40) years from execution, or until cumulative City TIRZ increment in the TIRZ Fund (including interest) totals $157,000,000.00, whichever occurs first

Renewal Date

2065-12-31

Renewal Info

Agreement term ends upon the earlier of 40 years from execution or when cumulative TIRZ increment deposited (including interest) reaches $157,000,000; no automatic renewal beyond this cap and term.