Title
Approving an ordinance on second reading with the caption reading: An ordinance levying special assessment for, and apportioning the costs of, certain improvements to property in and for the Lakeside Meadows Public Improvement District Improvement Area #1 and Improvement Area #2; Fixing a charge and lien against all properties within the Improvement Area #1 and Improvement Area #2 in the district, and the owners thereof; Providing for the manner and method of collection of such assessments; Providing for penalties and interest on delinquent assessments; Making a finding of special benefit for property in the district and the real and true owners thereof; Approving a service and assessment plan; Approving a Lakeside Meadows Public Improvement District Financing Agreement; Providing a severability clause; and Providing an effective date.
Summary
As provided with the related ordinance, 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 416.63 acres of land generally located at the northeast corner of SH130 and Pecan Street known as Lakeside Meadows Development. 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, right...
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