Woodforest will expand its amenity palette in 2012, with construction starting on the first phase of a 16-acre recreation complex. Forest Island is designed as a recreation centerpiece for the South Montgomery County community, which completed two years of sales in 2011.

The facility’s first phase — comprising tennis and basketball courts and children’s play areas — is slated to open this fall.

Construction is expected to begin later this year on the Forest Island pool, a freeform design that will include tower water slides, a play area with water activities for young swimmers, and a lounging area for poolside relaxation. A party pavilion and concession area may also be included in the final design of the swimming complex. The aquatics center is planned to open for the 2013 swim season.

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Hyatt Hotels & Resorts announced that Avia The Woodlands has officially changed its name to Hyatt Market Street, The Woodlands. Located at Market Street, Hyatt Market Street, The Woodlands combines understated elegance with contemporary style. To commemorate the hotel’s re-naming celebration, a donation was made to Interfaith of The Woodlands.

“We are thrilled to become Hyatt Market Street,” said David Brown, general manager, Hyatt Market Street, The Woodlands. “On behalf of all of our associates, we are more committed than ever to providing our guests with a memorable, distinctive experience.”

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‹The Woodlands Township Board of Directors honored four Volunteers of the Year at its Volunteer Recognition and Town Hall Meeting in January. John Hibbs was recognized as Community Relations Volunteer; Marti Fox Meerscheidt, Parks and Recreation Volunteer; Pat Shook, Environmental Services Volunteer; and Clancy Dee Rasmituth, Neighborhood Services Volunteer.

The Capital Farm Credit Board of Directors recently declared a total patronage refund of $126.6 million. Of that, $38.4 million is in cash to be paid to stockholders in March, and $88.2 million is in the form of allocated equities and is eligible for future cash payouts.

The refund, based on 2011 earnings, continues a long-standing tradition by the rural  lending cooperative of sharing its earnings with its customers. The amount declared by  the board represents the return of almost 100 percent of Capital Farm Credit’s net  earnings from 2011, setting it apart from other financial institutions.

“Our board of directors and management are committed to returning patronage to our customers and standing by our cooperative principles,” said Ben Novosad, chief executive officer. “Capital Farm Credit delivers value to our customers, and sharing our earnings is a tremendous value to them.”

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Michael Kors, one of America’s pre-eminent fashion designers for luxury sportswear and accessories, is scheduled to open in Market Square – The Woodlands in March. The store will offer a complete selection of the renowned and award-winning designer handbags, apparel, shoes and accessories.