Title
Discuss and consider action regarding Pedestrian Bridge Project Reimbursement Assignment Agreement by and between the City of Pflugerville, Texas and Lakeside Meadows LLC relating to Lakeside Meadows Public Improvement Agreement Reimbursement Agreement and Lakeside Meadows Public Improvement District Financing Agreement.
Summary
Pursuant to the Lakeside Meadows Public Improvement Agreements, the Developer is obligated to construct the Pedestrian Bridge, and has the right to receive, or assign the right to receive, reimbursements from the assessments levied within the District for the cost of the Pedestrian Bridge. This authorized improvement is specifically called out in the Service and Assessment Plan.
The City and the Developer agree that the City will construct the Pedestrian Bridge and that the City should be reimbursed from the Assessments. This is lined out specifically in the First Amendment to the Reimbursement Agreement with the Developer.
Prior City Council Action
June 14, 2022 - City Council approved the reimbursement agreement for the project
Deadline for City Council Action
This action is required on June 9, 2026 to meet deadline for assignment to Orix
Funding Expected: Revenue __ Expenditure _X_ N/A __
Budgeted Item: Yes __ No _X_ N/A __
Amount: $1,500,000_
1295 Form Required? Yes __ No _X_
Legal Review Required: N/A __ Required _X_ Date Completed: 5/15/2026
Supporting documents attached:
Pedestrian Bridge Reimbursement Assignment Agreement
Recommended Action
Staff recommends approval as presented.