Title
Approving an ordinance on second reading with the caption reading: An ordinance approving the 2023 Annual Update to the Service and Assessment Plan and Assessment Roll for the Martin Tract Public Improvement District including the collection of the 2023 annual installments.
Summary
This ordinance levy’s the annual assessments to the property to pay for defined infrastructure necessary to support the development and approves the updated service and assessment plan for the Martin Tract Public Improvement District (PID), also known as the Enclave at Cele Subdivision. This action is required to be done annually until all assessments have been collected.
For reference, the purpose of a 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 PID includes 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 cost of the improvements included within the PID is approximately $5.1M. The cost of improvements was initially paid by the...
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