The Denton County Commissioners Court yesterday OK'd a petitionpresented by a local law firm acting on behalf of Solomon, Baruch& Solomon, New York City-based investment firm that hasoptioned 2,346 acres from seven property owners whose landsurrounds a rural TX town with a 5,400 population base. With theaction comes a hearing set for Oct. 10 for the board to vote onestablishing a County Development District, which will entailsetting up a temporary five-member board to steer the projectbefore the voters, Gordon Hikel, associate attorney for Hayes,Coffey & Berry PC, told GlobeSt.com. The voters must decidewhether certain sales and use taxes can be imposed to push theproject to fruition via a $200 million to $210 million bond issue.Hikel says feedback from those residents and officials attendingTuesday's meeting "seems to be positive. ... but it depends on thepeople."

The developer presently is conducting a feasibility study on theproperties involved, which will take 60 to 150 days to complete.Solomon, Baruch & Solomon also has hired a public relationsconsultant to handle the media which has jumped on the news inrecent weeks due to the significant impact the project will haveupon the 100-year-old community which currently has one grocerystore and a single hotel.

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