Title
Discuss public improvement district financing tools and other special purpose districts.
Summary
Over the last couple of years, developer interest in utilizing public improvement districts, or PIDs, to augment project financing opportunities has increased. A number of jurisdictions in central Texas have permitted the use of PIDs to support projects, and some cities have enacted PID policies to govern or guide the appropriate use of this financing tool.
The purpose of this item is to afford the City Council the opportunity to learn more about this financing tool as it may be useful to achieve unique projects in the community. PIDs may be utilized independently, or as a complement to other special purpose districts and economic development incentives where appropriate.
Public Improvement Districts were established in 1987 in the 70th Legislative Session as the Public Improvement District Assessment Act (Chapter 372 of the Local Goverment Code).
A presentation will be given by Mr. Jon Snyder of P3Works Partners, Co-Founder and Managing Partner to provide additional information.
Prior City Council Action
None.
Deadline for City Council Action
N/A
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 _X_ Required __ Date Completed: ___________
Supporting documents attached:
None
Recommended Action
No action to be taken at this time.