Title
Conduct a public hearing regarding the creation the Martin Tract Public Improvement District in accordance with Chapter 372 of the Texas Local Government Code.
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 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 proposed PID would include 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 estimated cost of the improvements to be included within the PID is $6,000,000. The public hearing allows the public to comment on the creation of the PID for the subject tract and future items will be before City Council with the details regarding the specific projects that will be funded for the Martin Tract project utilizing PID financing.
Opening the public hearing is the first step in the PID process for the Martin Tract. Staff will work with the developer on review of the documents related to the PID and bring a resolution to City Council upon completion of the review of t...
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