Schuler Development agreement could be just a month away

While the Denison City Council didn’t take action during its Monday meeting on either of the items related to the Preston Harbor Development, a giant leap forward could be just a month away.

“We’re in the end stages of something that’s been going on for 12 years now,” said Mayor Jared Johnson.

The city has been working with Schuler Development on the high-end, planned development on Lake Texoma for more than a decade. Most recently the focus has been on a master development agreement and the conveyance of federally-owned shoreline to the developer.

Denison City Attorney Tom Akins said the deed for that approximately 600 acres of federal land is in escrow at the title company awaiting the Council to pass a resolution accepting it. Once that is passed and the signed resolution is sent to the U.S. Army Corps of Engineers, the Corps can execute the conveyance. Then once the city has the land, it will immediately sell it to the developer with the same terms. Throughout the process the developer is paying all the city’s costs.

“The Corps of Engineers has been great to work with, and we’re in the last lap,” Johnson said.

However, before the city and developer can move forward with the conveyance, the two parties must agree upon a master development agreement that will outline the responsibilities of both parties and the time line for infrastructure improvements like water and sewer and roads.

City Attorney Tom Akins said there are still a few details to be worked out in the agreement. Some, he said, involve Grayson County and the city has been told the Grayson County Commissioners Court won’t be able to act on them until Jan. 22.

“We’ve got some sticking points, but I don’t think anybody thinks they’re insurmountable,” Akins said. “It’s just trying to get to point where everybody’s head’s nodding approval, … where all the parties think that we’ve got this nailed down.”

Schuler Development Project Manager Cindy North echoed Akins’ optimism. “We think that we’re on the verge of getting everything worked out,” she said.

Akins said he hopes the Council will act on the master development agreement at the regular Feb. 4 Council meeting.

“We’re getting very close,” Johnson said.