The Denton County Commissioners Court yesterday OK'd a petition presented by a local law firm acting on behalf of Solomon, Baruch & Solomon, New York City-based investment firm that has optioned 2,346 acres from seven property owners whose land surrounds a rural TX town with a 5,400 population base. With the action comes a hearing set for Oct. 10 for the board to vote on establishing a County Development District, which will entail setting up a temporary five-member board to steer the project before the voters, Gordon Hikel, associate attorney for Hayes, Coffey & Berry PC, told GlobeSt.com. The voters must decide whether certain sales and use taxes can be imposed to push the project to fruition via a $200 million to $210 million bond issue. Hikel says feedback from those residents and officials attending Tuesday's meeting "seems to be positive. ... but it depends on the people."

The developer presently is conducting a feasibility study on the properties involved, which will take 60 to 150 days to complete. Solomon, Baruch & Solomon also has hired a public relations consultant to handle the media which has jumped on the news in recent weeks due to the significant impact the project will have upon the 100-year-old community which currently has one grocery store and a single hotel.

The project is calling for three Jack Nicklaus-designed golf courses, at least 7,000 single-family homes in the $150,000-$200,000 price range, a 300-400 room five-star hotel and assisted living facilities. The development, if it proceeds, is estimated to pump at least $8 million annually into city coffers which presently operate on a $2 million annual budget.