Title
Discuss and consider action regarding First Amendment to Lakeside Meadows Public Improvement District Reimbursement Agreement between the City of Pflugerville, Texas and Lakeside Meadows LLC.
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 Lakeside Meadows PID pertains to approximately 416.63 acres of land generally located at the northeast corner of SH130 and Pecan Street known as Lakeside Meadows Development. The PID would include the design, acquisition, construction, and improvement of public improvement projects authorized by state law that are necessary for the development of the Property, which public improvements will 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 PID is intended to function as a reimbursement PID, meaning that the initial funding of public improvements will be incurred by the development upfront and, once each improvement is complete, the development would be reimbursed for those costs.
This First Amendment defines total assessments collected to date and establishes how funds will be disbursed for specific reimbursements and improvements. This amendment is the guide the City will use to disburse the current funds available including funds that will be set aside for disbursement in the future.
This agreement refers to other agreements also being considered by City Council on this same agenda.
The exhibit B references all documents to be certified by the City Secretary after this agreement is approved. The documents total ~900 pages and are on file with the City Secretary.
Prior City Council Action
June 14, 2022 - City Council approved the Lakeside Meadows Public Improvement District Reimbursement Agreement
Deadline for City Council Action
This action is required on June 9, 2026 to meet deadline for assignment to Orix
Funding Expected: Revenue __ Expenditure __ N/A _X_
Budgeted Item: Yes __ No __ N/A _X_
Amount: __
1295 Form Required? Yes __ No __X__
Legal Review Required: N/A __ Required _X_ Date Completed: 5/18/2026
Supporting documents attached:
First Amendment to Lakeside Meadows Reimbursement Agreement
Recommended Action
Staff recommends approval of to a First Amendment to Lakeside Meadows Public Improvement District Reimbursement Agreement between the City of Pflugerville, Texas and Lakeside Meadows LLC.