Business Services Industry
Fm Properties Inc. Announces Creation Of Water Quality Protection Zone For Barton Creek Development Near Austin, Texas
Business Wire, Dec 8, 1995
NEW ORLEANS--(BUSINESS WIRE)--Dec. 8, 1995--FM Properties Inc. (NASDAQ:FMPO) today announced the designation of a Water Quality Protection Zone for its Barton Creek real estate development near Austin, Texas, by the Texas Natural Resource Conservation Commission (TNRCC) and the TNRCC's approval of FMPO's water quality plan. This approval enables the development of the Barton Creek project to proceed with specified development requirements designed to protect the water quality in Barton Creek.
Richard C. Adkerson, Chairman of the Board and CEO said, "We are pleased that our Barton Creek project has been granted the first Water Quality Protection Zone under the new state law. We will work cooperatively with the TNRCC to ensure that our development proceeds in an environmentally responsible way in accordance with the laws of the State of Texas. The Water Quality Protection Zone designation and the TRNRCC's approval of our water quality plan provide our company regulatory certainty which is essential to the future commercial success of our project. It is a major milestone for the Barton Creek project and our company."
FMPO is engaged in the development and marketing of real estate in the Austin, Dallas, Houston and San Antonio, Texas areas.
CONTACT: FM Properties Inc., New Orleans
Craig E. Saporito, 504/582-4476
Chris D. Sammons, 504/582-4474
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