SEED MDD ANNOUNCES PLANS FOR A NINETY-FOUR LOT SUBDIVISION IN SWEETWATER, TEXAS
Sweetwater Economic Development
Sweetwater, Texas August 26, 2021—The Sweetwater Enterprise for Economic Development Municipal Development District met in regular session on August 9, 2021 and approved a developer and builder incentive package for a ninety-four-lot subdivision. Creekside Subdivision will be located on 29.5 acres off of Hoyt Street. The land has been purchased and will be developed by Rick and Holly Betenbough. Rick Betenbough is the CEO of Betenbough Homes. Betenbough Homes has more than twenty-eight years of experience and builds homes in the Lubbock, Midland, Odessa, and Amarillo markets. The lots developed within the Creekside Subdivision will be put up for sale to any experienced contractor licensed in the State of Texas to build single-family homes.
Because of the strong correlation between available housing, retention of existing businesses and new business recruitment SEED MDD has elected to offer Rick and Holly Betenbough, the developer, an incentive of $4,000.00 per residential lot that is developed and $10,000.00 per home built within the Creekside Subdivision to any approved builder. The SEED MDD Board of Directors agreed that local incentives were necessary to maintain the lots at a price point competitive with surrounding areas and to build homes with specifications that are competitive with homes constructed in other larger communities in the region at prices that are commensurate with local market conditions.
“This is a big deal for Sweetwater,” says Miesha Adames, Marketing Director for SEED MDD. “Our local employers are struggling to hire and keep employees because of the lack of housing in Sweetwater. If we cannot offer our businesses the labor force that they need, they will decide to relocate elsewhere or not expand in Sweetwater.”
The developer hopes to have dirt moving in early 2022 and expects to have lots ready for sale to builders sometime in the third quarter of 2022.
Sweetwater Enterprise for Economic Development Municipal Development District (SEED MDD), a political subdivision of the City of Sweetwater, was created by the voters to promote, assist, stimulate, and enhance economic development and quality of life in Sweetwater, Texas. SEED MDD is governed by a five-member board and is funded by 0.5 percent sales tax.