Midway has approved an agreement that will annex the entire 379-acre Glebe-Martin mixed-use project into the city, and finance water and water treatment service for the new development as well as for municipality.
Mayor Don Emmons said the agreement with Deepwater Holdings was “a win-win deal for the city of Midway.”
The 15-page document provides for Midway to issue up to $16 million in tax-exempt municipal revenue bonds to finance the water and sewer work, but other financing options are left open.
Deepwater may decide to use its own funding sources to pay for water and sewer improvements for the development and then sell the infrastructure to Midway.
Specifics of the plan include Deepwater granting the city an acre of land for construction of a new deep well and 250,000-gallon storage tank that is expected to bring the capacity up to 500,000 gallons per day. A lift station will be provided to serve the development.
The capacity for handling wastewater will be increased by up to 400,000 gallons. A “purple pipe” water reclamation system will provide water for irrigation.
Midway will waive tap fees from Deepwater, while allowing the business to charge third parties who buy into the development. These fees will be used to pay for infrastructure or related costs, such as bonds. Emmons said he planned to begin the steps for annexation soon, noting that the process is simple if only one landowner is involved.
About the development
The development — the name of which is evolving: Liberty Gateway at Martin Plantation, Sawgrass Landing or something not yet announced — is to consist of single-family and multi-family dwellings, townhomes, and retail and commercial space.
Chris Herrell, a manager at Midway Holdings, said residential areas will have a private entrance off Highway 84. Two other access points would allow the public to enter the retail and commercial areas, as well as some of the common areas.
The single-family residential area is to be constructed in phases and would feature a traditional neighborhood design with Coastal Craftsman-style homes.
Herrell described them as “not luxury,” but “high quality” and noted, “We’re building a community, not a country club.”
He said a retail village with internal access would be located on 61 acres. Eleven other parcels are designated for restaurants, hotels and other establishments.
Emmons said he would like to see a full service hotel built early and is also interested in a first-class restaurant.
“We can pull people off that interstate,” Emmons said. “We want to be very careful about setting the tone of this area.”
Mayor Don Emmons said the agreement with Deepwater Holdings was “a win-win deal for the city of Midway.”
The 15-page document provides for Midway to issue up to $16 million in tax-exempt municipal revenue bonds to finance the water and sewer work, but other financing options are left open.
Deepwater may decide to use its own funding sources to pay for water and sewer improvements for the development and then sell the infrastructure to Midway.
Specifics of the plan include Deepwater granting the city an acre of land for construction of a new deep well and 250,000-gallon storage tank that is expected to bring the capacity up to 500,000 gallons per day. A lift station will be provided to serve the development.
The capacity for handling wastewater will be increased by up to 400,000 gallons. A “purple pipe” water reclamation system will provide water for irrigation.
Midway will waive tap fees from Deepwater, while allowing the business to charge third parties who buy into the development. These fees will be used to pay for infrastructure or related costs, such as bonds. Emmons said he planned to begin the steps for annexation soon, noting that the process is simple if only one landowner is involved.
About the development
The development — the name of which is evolving: Liberty Gateway at Martin Plantation, Sawgrass Landing or something not yet announced — is to consist of single-family and multi-family dwellings, townhomes, and retail and commercial space.
Chris Herrell, a manager at Midway Holdings, said residential areas will have a private entrance off Highway 84. Two other access points would allow the public to enter the retail and commercial areas, as well as some of the common areas.
The single-family residential area is to be constructed in phases and would feature a traditional neighborhood design with Coastal Craftsman-style homes.
Herrell described them as “not luxury,” but “high quality” and noted, “We’re building a community, not a country club.”
He said a retail village with internal access would be located on 61 acres. Eleven other parcels are designated for restaurants, hotels and other establishments.
Emmons said he would like to see a full service hotel built early and is also interested in a first-class restaurant.
“We can pull people off that interstate,” Emmons said. “We want to be very careful about setting the tone of this area.”