Title
Resolution - A Resolution of the City Council of the City of Mansfield, Texas, Accepting a Petition for and Calling a Public Hearing on the Advisability of the Improvements and Creation is the City of Mansfield Public Improvement District No. 2 within the Corporate Limits of the City of Mansfield Pursuant to Chapter 372, Texas Local Government Code, and Authorizing the Mailing and Publication of Notice of the Public Hearing.
Requested Action
Staff is requesting the public hearing be held on March 4th during the regular city council meeting.
Recommendation
Staff recommends calling a public hearing regarding the acceptance of this PID.
Description/History
The City Council of the City of Mansfield, Texas has received a petition requesting the creation of the City of Mansfield Public Improvement District No. 2 under Chapter 372 of the Texas Local Government Code, as amended, from the record owners of taxable real property representing more than fifty percent of the appraised value of the real property liable for assessment (as determined by the most recent certified appraisal roll for Tarrant County) in the proposed PID and the record owners of taxable real property that constitute more than 50% of all of the area of all taxable real property that is liable for assessment in the proposed PID.
Justification
This neighborhood development will cover property that is currently vacant and stretches between single-family neighborhoods and several MISD facilities. The PID is an economic development incentive to aid in funding public improvements to the neighborhood including streets, parks, and more.
Funding Source
N/A
Prepared By
Matt Jones, Assistant City Manager