Title
Conduct a public hearing and consider 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 Meadowlark Preserve Public Improvement District; Fixing a charge and lien against all properties within the district, and the owners thereof; Providing for the manner and method of collection of such assessments; Making a finding of special benefit to 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 97.882 acres of land. The property will be developed as a single-family residential development. The PID would include the design, acquisition, construction, and improvement projects authorized by state law 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 $19.5 million. The developer is requesting that the City issue PID bonds to finance the ...
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