The Richland City Council in its last meeting of 2010 on Tuesday approved annexation of nearly 2,000 acres south of Badger Mountain and a development agreement setting standards for how those acres will be built out over 20 years.
The council noted the development agreement had gone through a thorough review by city staff members and an outside attorney.
The project eventually is expected to include 5,000 homes, parks, schools, 150 acres of commercial development and a wine village.
The project has been years in the making and has gone through several versions before developers and the city arrived on the current scheme.
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The current concept is intended to include housing at a range of pricing levels, from a mix of higher-density multi-family housing that will cost less than $200,000 per unit, to single-family homes and estate homes that cost upwards of $500,000.
Also Tuesday, the council approved the $252 million 2011 city budget that includes a $55.3 million general fund and $565,000 in expanded programs.
City officials did not include a property tax increase in the budget.