17. • Planning & BudgetTravis County (Travis County)

Consider and take appropriate action on a resolution approving and authorizing a financing agreement for the Lagos Reserve Public Improvement District. (This item will be taken into executive session under the Consultation with Attorney exception, Texas Government Code §551.071) (Commissioner Travillion)

Presented in: Travis County Commissioners Court Voting Session on 2026-06-09

Staff Report & Agenda Item Details

The Commissioners Court of Travis County, Texas (the “County”), pursuant to and in accordance with the terms, provisions and requirements of the Public Improvement District Assessment Act, Chapter 372, Texas Local Government Code, as amended (the “PID Act”), authorized the creation of the “Lagos Reserve Public Improvement District” (the “District”) pursuant to a resolution (the “Authorization Resolution”) adopted by the Commissioners Court of the County (the “Commissioners Court”) on March 31, 2026. The City of Austin (the “City”) did not object to the creation of the District within thirty days as permitted by Section 372.003(d) of the PID Act. The creation of the District allows the developer to request PID-financing of approximately $75 million in public infrastructure improvements, including streets and roadways, water and wastewater facilities, drainage facilities, landscaping, parks and open space, trails, signage, and related public improvements that benefit the District. The Commissioners Court has adopted policies and procedures relating to the establishment of public improvement districts, which includes provisions the Commissioners Court will use to consider whether creation of a PID, a levy of special assessments, or issuance of bonds payable from special assessments (“PID Bonds”) are in the best interest of the County (as amended, the “PID Policy”). The PID Policy has been codified in Chapter 481 of the Travis County Code. As used in the attached Agreement, the term “PID Policy” means the version of the PID Policy in effect on January 31, 2024. The Travis County Development Authority (the “TCDA”) was organized and operates pursuant to Subchapter D, Chapter 431, Texas Transportation Code (the “LGC Act”). Pursuant to the LGC Act, the TCDA may act on behalf of the County to accomplish a governmental purpose of the County, including management of public improvement districts. In conformance with the PID Policy, the County, the TCDA and the Managing Developer (defined below) have negotiated and finalized the Lagos Reserve Financing Agreement (“Agreement”) for the Commissioners Court’s consideration today. The proposed Agreement is between 706 Investment Partnership, Ltd., a Texas limited partnership (the “Managing Developer”), the TCDA, and the “County”. The Agreement is consented to by the remaining landowners within the District, and include: Wild Horse Creekside Commercial, L.P., a Texas limited partnership (“Wild Horse”), BZ Mila, LLC, a Texas limited liability company (“BZ Mila”), GG Lagos Limited Partnership, a Delaware limited partnership (“GG Lagos”), Tri Pointe Homes Texas, Inc., a Texas corporation (“Tri Pointe”), and RLS (Lagos) LLC, a Delaware limited liability company (“RLS”) (the “Consenting Parties”). The District is comprised of 469 acres of land located in Travis County and the extraterritorial jurisdiction of the City, as described on Exhibit “B” (the “