Sec. 214.001. DEFINITIONS. In this chapter:
(1) "Current developer" means an owner of one or more tracts or lots in a mixed-use real estate development, or the owner's affiliate, who:
(A) is the current declarant in the declaration governing the development; and
(B) currently holds the developer rights for the development.
(2) "Declaration" means an instrument filed in the real property records of a county that includes restrictive covenants governing a real estate development.
(3) "Dedicatory instrument" has the meaning assigned by Section 202.001.
(4) "Mixed-use real estate development" means a real estate development that:
(A) contains at least 200 acres and not more than 250 acres of deed-restricted property composed of at least 10 separate tracts or parcels of property;
(B) includes:
(i) commercial properties, including hotel and retail properties, that constitute at least 70 percent of the total land area of the development; and
(ii) office properties that constitute at least 50 percent of the total land area of the development;
(C) may include other real estate uses;
(D) is governed by a property owners' association; and
(E) is subject to a dedicatory instrument that:
(i) requires mandatory membership in the property owners' association;
(ii) authorizes the property owners' association to collect a regular assessment on all or a majority of the property in the development;
(iii) requires the approval of owners of more than:
(a) 90 percent of the ground area constituting the development to change a provision of the dedicatory instrument governing the permitted use of a property; or
(b) 60 percent of the ground area constituting the development to change a provision of the dedicatory instrument that is not related to the permitted use of a property; and
(iv) provides that voting for an amendment is based on the number of acres owned by each owner.
(5) "Property owners' association" has the meaning assigned by Section 202.001.
Added by Acts 2019, 86th Leg., R.S., Ch. 1228 (S.B. 1845), Sec. 1, eff. September 1, 2019.
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