Title
Approving an ordinance on second reading with the caption reading: An ordinance levying special assessment for, and apportioning the costs of, certain improvement to property in and for the Martin Tract Public Improvement District; Fixing a charge and lien against all properties withing the district, and the owners thereof; Providing for the manner and method of collection of such assessments; Making a finding of special benefit for property in the district and the real and true owners thereof; Approving a service and assessment plan; Providing a severability clause; and Providing an effective date.
Summary
The purpose of a Public Improvement District (PID) is to create a funding source for a defined geographic area in support of identified improvements. The proposed PID pertains to approximately 40.447 acres of land generally located on the south side of Cele Road, just west of Melber Lane and East of Verona Subdivision. The proposed PID would include the design, acquisition, construction, and improvement of public improvement projects authorized by the Act that are necessary for the development of the Property, which public improvements may generally include:
(i) the establishment of parks and open space, together with the design, construction and maintenance of any ancillary structures, features or amenities such as trails, pavilions, community facilities, parking structures, sidewalks, irrigation, walkways, lighting, benches, trash receptacles and any similar items located therein;
(ii) landscaping;
(iii) acquisition, construction, and improvement of water, wastewater and drainage facilities;
(iv) acquisition, construction and improvement of streets, roadways, rights-of-way and related facilities;
(v) entry monumentation and features;
(vi) signage;
(vii) projects similar to those listed above
The estimated cost of the improvements to be included within the PID is approximately $6M. The cost of improvements will be initially paid by the developer and then the cost will be assessed to the future residents of the tract, to be paid over a period of up to 30 years. The PID assessment may be paid off earlier should the future property owner desire to do so.
The PID was created by Council action on December 8, 2020. This ordinance levys the assessments to the property to pay for defined infrastructure necessary to support the development and approves the service and assessment plan.
Prior City Council Action
On January 11, 2022, City Council approved this ordinance on 1st Reading.
On June 23, 2020, City Council held a public hearing on the creation of the PID.
On August 11, 2020, City Council approved the rezoning of this property to Single Family Residential (SF-R).
On December 8, 2020, City Council approved the creation of the PID.
Funding Expected: Revenue __ Expenditure __ N/A _X_
Budgeted Item: Yes __ No __ N/A _X_
Amount: __N/A______
1295 Form Required? Yes __ No _X_
Legal Review Required: N/A __ Required __ Date Completed: November 22, 2021
Supporting documents attached:
Ordinance
Exhibit A - Service and Assessment Plan
Location Map
Recommended Action
Motion to approve the ordinance on second reading as presented.