Pit & Quarry, November 2018
OPERATIONS The tax roll value of all of the familys acreage in Fort Worth is approaching 400 million veloping residential communities and mixed use properties Ultimately the Newells reclaimed and developed about 600 acres for residential use including parts of neighboring land purchased in 2005 from TXI The Newells continue to mine and reclaim the land purchased from TXI to this day The development has taken on a life of its own Keith says When you are developing floodplain property you have to raise that grade to a developable level That requires dirt This is largely provided The wash plant will play a part in Metroplex reaching its goal of producing 120000 to 125000 tons per month by the overburden atop our aggregate reserves You also have to create valley storage somewhere for floodwater to go The mining company did that with beautiful lakes that complement the land You also have to create storage somewhere for water to go he adds The mining company did that with beautiful lakes that complement the land Not only have the Newells provided the required valley storage compensation for their developments they have created hundreds of acres of excess valley storage that helps mitigate the flooding risk of surrounding properties According to Keith the tax roll value of all of the familys acreage in Fort Worth is approaching 400 million with a built out tax roll projected at 15 billion With the development weve completed and the increase of property tax value the city has been supportive of our sand and gravel mining efforts Keith says The two go hand in hand he adds Were creating value for the land and the city 30 PIT QUARRY November 2018 pitandquarry com CDE
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