Update: Fairfield Lake State Park land won’t be sold to Texas, developer says
that Todd Interests will be moving forward with its plans and closing on its contract with Vistra to purchase the land.“We responded timely, almost immediately and in good faith to that offer, which was a proposal that would have been an incredible win for the state of Texas and at a significant sacrifice to our family,” Todd said. “Since we submitted that offer, the state has not responded to us. To that end, we’re moving forward with our transaction.
Todd said it’s refreshing to hear that the state is respecting private property rights, and noted a positive impact of this interaction has been the state realizing the importance of parks and working to pass legislation to fund them.Although the 2,400-acre park has been open to the public since 1976, Texas leased the land from privately-owned Vistra Energy at no cost.
After the land was sold to Todd Interests, Vista was prohibited from negotiating with the state because of the terms of the developer’s contract. The park is about a 90 mile drive south of Dallas, and its central location to Dallas, Houston and Austin makes the land highly sought-after real estate.
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