Title
Discussion and Consideration of a Petition to Create a Public Improvement District and Setting a Date for Public Hearing to Receive Public Comments on the Creation of the South Pointe Public Improvement District, Containing Approximately 873.29 Acres Between U.S. 287 and S.H. 360, South of Mathis Road and the Railroad
Requested Action
Set a public hearing date of Monday, January 25, 2016
Recommendation
Staff recommends the above public hearing date.
Description/History
The creation of the public improvement district (PID) is required by the South Pointe Development Agreement so as to allow the city to levy special assessments on the properties in South Pointe to fund the operation and maintenance of the items shown in the attachment.
Next Steps:
- Public hearing
- Resolution to create the PID and methods of assessment; date tbd
- Ordinance to adopt the assessment, method of payment and service plan
- Contract with a management company to operate the PID
The operation and maintenance cost will be totally borne by the PID. The City will not be obligated to provide funds to finance the PID other than from the assessments.
Prior to creating the PID, the City Staff will conduct a feasibility study and analyze the estimated cost. State law requires the PID service plan to be reviewed and updated annually for the purpose of determining the annual budget. The amount of assessment may be adjusted following the annual review of the service plan.
Prepared By
Felix Wong, Director of Planning
817-276-4228