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Pelican Bay is a city in the far northwest corner of Tarrant County, Texas, on the shore of Eagle Mountain Lake. Founded by Olen Yandell on his struggling dairy farm in 1970, it incorporated in 1981. Despite Yandell's aspirations to create a new Sausalito, Calif., Pelican Bay remains a modest enclave. The large majority of residences are mobile homes, and the roads and yards are tidy but a bit rough around the edges. The population was 2,049 at the 2020 census.