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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: | Public Hearing and Resolution for Collin Creek East PID addition. | | RECOMMENDED ACTION: | Items for Individual Consideration |
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| | | | | | | | ITEM SUMMARY Public Hearing and adoption of Resolution No. 2021-2-3(R) to authorize the addition of land to the Collin Creek East Public Improvement District within the City of Plano, Texas, through petition 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
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| | | | | | | | PREVIOUS ACTION/PRESENTATION In January 2020, Council created the Collin Creek East Public Improvement District. At that time, the new location for the JCPenney retail store was excluded from the PID. In November 2020, JCPenney decided to close their existing store and not open a new one. The developer is now requesting the property be placed into the PID.
On January 11, 2021, the City Council adopted a resolution calling a public hearing for the addition of land to the Collin Creek East Public Improvement District. Immediately following the 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 add land to the existing Collin Creek East Public Improvement District. |
| | | | | | | | FINANCIAL SUMMARY/STRATEGIC GOALS This item has no financial impact. If adopted the financial impact of creating a Public Improvement District for the eastern 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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