Cross Roads, Texas (February 2022) – In the Cross Roads Vision 2035 survey conducted in 2021, community members clearly articulated their desire for diversity of restaurants, boutique services and shops, a local/organic focused grocery store, venue for public events, and a gathering place for the community – a Town Square/Town Centre. In late December, the Cross Roads Municipal Development District (MDD) acquired approximately 2.42 acres at 1151 FM 424. This is a strategic purchase of land adjacent to the Cross Roads Police Department giving the Town many options for the future. The acquisition of this property in Cross Roads is a step towards potentially creating a community center or retail space that reflects the unique character of Cross Roads. Financing for this project was provided by Government Capital Corporation, Southlake, Texas.
“The MDD is very proud to have made this investment in providing for the future of Cross Roads. We will carefully evaluate the highest use for this property to serve the residents of Cross Roads,” says John Knox, President of Cross Roads MDD. “Government Capital’s experience and expertise in the unique challenges facing economic development corporations was of great value to us.”
“I would like to congratulate John Knox and the Cross Roads MDD on their work and foresight on this acquisition,” stated Jennifer Draper, Municipal Finance Specialist, Government Capital Corporation. “This is a great example of dedicated leaders looking towards the future to meet the goals and objectives of their citizens.”
About Cross Roads Municipal Development District
In May of 2013, the Town Council of Cross Roads ordered an election for the creation of the Cross Roads MDD which was subsequently approved by the voters. The CRMDD collects one quarter of one percent of sales tax within the Town and its extraterritorial jurisdiction for the purpose of financing development projects beneficial to the District, including the purchase of property.
The mission of Cross Roads MDD is to continue to grow the tax base by attracting new business, creating a family-oriented, safe town environment while preserving the small-town country living, making the community a better place to do business, live and work. Also, the District promotes the retention, and expansion of existing business for a sustainable economy leading to job creation. To learn more visit www.crossroadstx.gov
About Government Capital Corporation
Government Capital Corporation is a leading public finance firm providing professional financial services to all local governmental entities. Since its founding in 1992, the company has successfully completed thousands of municipal financings exceeding $4.8 billion in Texas and across the country. For more information, visit www.govcap.com
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