If Council were to approve the Haggard PID, this resolution would approve an agreement that permits the City to escrow a petition to dissolve the Haggard PID if the project fails to levy an assessment within two years.  This safeguard is beneficial because: (a) the approval of the Haggard PID is being contemplated before a development agreement is in place; (b) the approval of the Haggard PID is necessary to meet contractual deadlines the developer has with an office tenant, and; (c) if the project fails to proceed, the City can take action to dissolve the PID to clear the way for another developer.

If after the public hearing to consider the Haggard PID, Council does not approve the formation of the Haggard PID, this resolution does not need to be considered. 

During the time between approving the Haggard PID and the levying of assessments, the developer and the City will enter into a reimbursement agreement to cover all costs associated with establishing the Haggard PID.  After levying assessments, the City will not incur any costs associated with the Authorized Improvements or supplemental services using any City funds.  All PID related City costs will be funded by assessments levied on property within the pubic improvement district. 

Establishing a public improvement district at the site relates to the City's Strategic Plan Critical Success Factors of Residential and Commercial Economic Vitality and Excellent, Innovative and Accountable City Government.