Title
Resolution - Public Hearing on a Resolution Approving the Fiscal Year 2022/2023 Services and Assessment Plan for the South Pointe Public Improvement District (“PID”); Providing a Severability Clause; and Providing an Effective Date
Requested Action
Approve the Annual Plan of Service and Budget of the South Pointe Public Improvement District.
Recommendation
Staff recommends that the City Council of the City of Mansfield, Texas approve the Annual Plan of Service and Budget along with the updated five-year plan of Service and Budget for the South Pointe Public Improvement District.
Description/History
In January 2016, the City Council of the City of Mansfield, Texas received a petition requesting creation of a public improvement district under Chapter 372 of the Texas Local Government Code from the owners of real property representing more than fifty percent (50%) of the appraised value of the real property liable for assessment in the proposed District. The resolution authorizing and creating the South Pointe Public Improvement District was approved on February 22, 2016.
The South Pointe Public Improvement District is approximately 873 acres. The public improvement district is to provide services that enhance the lifestyle, personal pride, enjoyment and property values within the District. An annual assessment of $1,000 for a single family home within the District and $120 for each multifamily unit within the District shall be levied. There is no change from the original assessment. These assessments will be collected through the same systems used to collect ad valorem property tax.
Justification
The annual plan of Service and Budget for the South Pointe Public Improvement District addresses the on-going maintenance needs within the boundaries of the public improvement district. The budget for fiscal year 2023 is $681,959. The Developer and the Management Company are working in concert to maintain the district. Their efforts are focused on creating an exceptional community within the City of Mansfield through the maintenance and development of this public improvement district.
Funding Source
The cost of the annual plan of Service and Budget is funded from assessment fees of $1,000 per single family home and $120 per multifamily unit within the District. Any remaining costs are funded by the developer of South Pointe.
Prepared By
Troy Lestina, Chief Financial Officer; 817-276-4258
Bryan Rebel, Assistant Director of Finance; 817-276-4296