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CITY COUNCIL AGENDA MEMO |
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| | | | | | | | | MEETING DATE: | 2/8/2021 | | DEPARTMENT: | Special Projects | | DIRECTOR: | Peter Braster, Director of Special Projects | | AGENDA ITEM: | Collin Creek West PID Public Hearing and Resolution | | RECOMMENDED ACTION: | Items for Individual Consideration |
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| | | | | | | | ITEM SUMMARY Public Hearing and adoption of Resolution No. 2021-2-4(R) to authorize the establishment of the Collin Creek West Public Improvement District within the City of Plano, Texas, in accordance with Chapter 372 of the Texas Local Government Code, and authorizing and directing the publication of this resolution; providing for related matters and providing an effective date. Conducted and adopted |
| | | | | | | | PREVIOUS ACTION/PRESENTATION On January 11, 2021, the City Council adopted a resolution calling a public hearing to establish the Collin Creek West Public Improvement District. Immediately following adoption of the resolution to call a public hearing, notice of the public hearing was published in The Dallas Morning News on January 14, 2021 and mailed to each property owner via US Post (certified return receipt service). Both notices met the required 15-day notice period as required by Chapter 372 of the Texas Local Government Code. |
| | | | | | | | BACKGROUND In July 2019, the City Council approved a Development Agreement with the Developer of the Collin Creek Mall Project. The development agreement outlined the City of Plano's participation in the redevelopment of the Collin Creek Mall property. At that time, the complexity of the agreement necessitated moving many of the specifics into a Funding Agreement. In December 2020, Council approved the Funding Agreement. The Funding Agreement outlined the parameters for establishing two public improvement districts. Those parameters will be part of the Service and Assessment Plan. Council will take action to approve the plan at a later date. This action will establish the Collin Creek West Public Improvement District.
The Collin Creek West Public Improvement District (West PID) will finance (via bonds that will be repaid by a levy on the property inside the PID) the following public improvements:
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street and roadway improvements, including related sidewalks, drainage, utility relocation, signalization, landscaping, lighting, signage, off-street parking and right-of-way;
2. establishment or improvement of parks and open space, together with the design, construction and maintenance of any ancillary structures, features or amenities such as trails, playgrounds, walkways, lighting and any similar items located therein;
3. sidewalks and landscaping, including entry monuments and features, fountains, lighting and signage;
4. acquisition, construction, and improvement of water, wastewater and drainage improvements and facilities;
5. projects similar to those listed in subsections (1) - (4) above authorized by the Act, including similar off-site projects that provide a benefit to the property within the District;
6. special supplemental services for improvement and promotion of the District;
7. payment of costs associated with operating and maintaining the public improvements listed in subparagraphs (1) - (5) above; and
8. payment of costs associated with developing and financing the public improvements listed in subparagraphs (1) - (5) above, and costs of establishing, administering and operating the District.
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| | | | | | | | FINANCIAL SUMMARY/STRATEGIC GOALS This item has no financial impact. If adopted the financial impact of creating a Public Improvement District for the western portion of the Collin Creek area is indeterminable at this time, with the funding for the district's activities being born by property owners within the district.
Approval of this Resolution supports the City's Strategic Plan Critical Success Factors of Residential and Commercial Economic Vitality and Excellent, Innovative, and Accountable City Government. |
| ATTACHMENTS: | | Description | Upload Date | Type | | Resolution | 1/25/2021 | Resolution |
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