Bay Area Edition - July 2019

Larry Millican, who works in real estate management. The fees are capped, and in some cases, the city will pay devel- opers for constructing new major road- ways, he said. “It’s not near as bad as the developers wanna say that is,” Millican said. “It’s a give-and-take proposition.” Goza said impact fees have their place but that the cost has to be passed onto homebuyers. “Prices are continuing to go up, and you’re getting the same house,” he said. DIVERSIFYINGOPPORTUNITIES While League City could reach a population of ,, if city ocials do things right, it will cap out around , or ,, Hoover said. This is because the city cannot have as many residences in the second half of build-out as the rst if it wants to sus- tain itself, he said. A single-family home is not as prot- able to the city as a business because it does not generate as much tax revenue. To aord the infrastructure necessi- tated by development, the city needs to attract and establish oces, commercial companies and industrial businesses in its undeveloped land along with

residences, Hoover said. “Cities are a business. They cost money,” he said. League City has about three times as much residential land as it does com- mercial. The city would benet by end- ing build-out closer to a - split, Hoover said. League City ocials have a sustain- ability mindset. Aer a city is built out, it begins redeveloping itself. By the time League City is built out, it will be time to replace infrastructure that will be decades old, Hoover said. If League City does a good job picking what types of development will come into the community, the city will be in a better position to pay for such rede- velopment as income caps out, Hoover said. That does not mean League City wants to stop residential development anytime soon; ocials simply want a healthy mix, he said. “Doubling exactly what we’ve had is not gonna put together a surplus of what we need going forward,” Hoover said.

a risk by developing more lots at one time. If there were a housing market crash and builders never constructed homes, developers would be out the money they spent developing the lots. That risk has prompted some compa- nies to develop fewer lots at once, o- cials said. “[Builders] don’t have the same skin in the game [as developers], so to speak,” Hoover said. Goza’s company still develops lots at a time. He believes the housing market will stay healthy for a while, but he knows it will not last. “Naturally, there’s an end some- where. The question is where,” he said. Despite booming business, not everything is great for residential developers and builders. Goza is not a fan of League City’s recently Halfway The city has about 28,000 of undeveloped land making up about %

Last year, construction started on 6 7 . This year,League City is on pace for Building 9 0 0 .

implemented roadway impact fees, which developers of new construction must pay to the city to help mitigate the cost of roadway improvements necessitated by new development. The fees range from hundreds to thousands of dollars depending on the size of the development, where it is built and other factors. At a January League City City Coun- cil meeting, developers spoke against the fees, calling them another tax. Council agreed but said it would be better to charge developers rather than taxpayers for new construction. As League City grows, trac will become more congested, and it makes more sense to charge developers instead of the tax base for roadway improvements, such as extra lanes, that new development will require, said League City City Council Member

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Bay Area edition • July 2019