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.
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.