When completed, the development could bring $130 million to $150 million of new assessed valuation to the city, Jeff Ban, principal with the engineering firm DVG, said.
PUD amendments and replatting the subdivision have been discussed during recent months after home builder D.R. Horton became involved in the Cressmoor project.
The City Council authorized providing $10,000 to the Exceptional Equestrians organization, $15,000 to the Hobart Food Pantry and $15,000 to the Humane Society of Hobart.