The Lancaster County Council voted 6-0 on Monday night to approve the third and final reading of an ordinance for a development agreement on a proposed 310-home subdivision. District 1 Councilman Larry McCullough was absent from the meeting.
Austin-based Forestar (USA) Real Estate Group Inc. plans to build the homes on 157 acres for its Ansley Park development.
According to the agreement, construction on the homes is expected to start in April 2017 and the final phase could close by August 2022. An estimated 62 homes would be built each year. The property is located between Marvin and Henry Harris roads.
The county planning commission voted Nov. 17 to recommend that the council approve the development agreement.
The development agreement requires Forestar to pay the county $310,000 for public safety services by whichever date is earlier, June 30, 2017, or the closing on the sale of any property in the development.
Forestar must also pay the county $155,000 to benefit the Lancaster County School District by whichever date is earlier, June 30, 2017, or the closing on the sale of any property in the development.
The agreement also requires Forestar to pay for required infrastructure improvements, such as roads, water and sewer. The developer must also do a traffic impact analysis to determine what street improvements are needed in the area.
In other action the council voted 6-0 to approve a fee-in-lieu of taxes agreement with Movement Mortgage LLC.
Movement Mortgage is moving its corporate headquarters from Virginia Beach, Virginia, to the Bailes Ridge Business Park and will relocate employees from its Charlotte office to the new facility. The company’s CEO is former Carolina Panthers tight end Casey Crawford.
The company bought 24 acres for the headquarters and broke ground on the 104,000-square-foot facility in March. The facility is expected to be completed in March 2016.
The agreement requires Movement Mortgage to pay 6 percent of the property’s assessed value rather than the county’s tax rate of 10.5 percent. Movement Mortgage is also getting credits equal to 50 percent of the fee-in-lieu of tax payments for five years. That rate will decline to 25 percent for another five years after that time.
The credits come from the state and will be awarded by the county, said John Weaver, the county attorney.
The agreement requires the company to spend $21.2 million over five years in the county to build the headquarters and hire 672 full-time employees with an average annual wage of $56,472.
Movement Mortgage operates in 40 states and in 2012 and 2013 was named the nation’s fastest-growing privately held mortgage bank by Inc. magazine.