SHERMAN, TX-- The city of Sherman is putting the brakes on new construction while they work on a plan to regulate new businesses coming to the area.

The city council agreed today to a temporary moratorium at two different places. One near FM 691 and the other near Highway 289 on the border of both Sherman and Denison.

"Over the last 6 months this area has become a hotbed for interests of companies and different organizations," City Council Member Kevin Couch said.

Drivers will soon see new businesses popping up in Sherman. The city said they already have a handful of interested companies.

"The city has actually been fielding calls left and right of interested parties," Couch added.

To ensure this area grows in the best interest of those living in the area, city leaders have approved a 90 day moratorium. That means they've placed a hold on building permits for new construction guaranteeing the best of the best moves in.

"So this is us kind of getting a jump start on that development to make sure we have the framework in place," Couch explained.

The city said the hold will also secure that new businesses will  thrive and succeed.

"So these standards relate to the type of materials used, the setbacks, you know aesthetically pleasing," City Manager Robby Hefton said.

The city said there’s already plans underway for one of the first new businesses coming to town and that's Legend Bank.

"Our bank intends, fully intends to build a full service branch there, we're just taking care of the details developing the property," Bob Taylor with Legend Bank said.

In addition to new stores and buildings, the economy could also see a boost with new job openings.