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CITY COUNCIL AGENDA MEMO |
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| | | | | | | | | MEETING DATE: | 10/23/2023 | | DEPARTMENT: | Special Projects | | DIRECTOR: | Peter Braster, Director of Special Projects | | AGENDA ITEM: | Public Hearing Haggard Farm PID MIA | | RECOMMENDED ACTION: | Items for Individual Consideration |
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| | | | | | | | ITEM SUMMARY Public Hearing and consideration of an Ordinance to accept and approve a Service and Assessment Plan and Major Improvement Area Assessment Roll for the Haggard Farm Public Improvement District; making a finding of special benefit to the property in the Major Improvement Area of the District; levying special assessments against property within the Major Improvement Area of the District and establishing a lien on such property; providing for the method of assessment and the payment of the assessments in accordance with Chapter 372, Texas Local Government Code, as amended; providing penalties and interest on delinquent Assessments; providing for severability; and providing an effective date. Conducted and adopted Ordinance No. 2023-10-15
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| | | | | | | | PREVIOUS ACTION/PRESENTATION On January 9, 2023, the City Council conducted a public hearing to consider a petition received by the City on November 30, 2022, requesting the creation of a public improvement district consisting of approximately 142.49 acres of property, and, following the public hearing, the City Council adopted Resolution 2023-1-7(R), authorizing, establishing, and creating the Haggard Farm Public Improvement District.
On August 28, 2023, Council adopted Resolution No. 2023-8-7(R) approving a Preliminary Service and Assessment Plan including a proposed Improvement Area #1 Assessment Roll and Major Improvement Area Assessment Roll; directing the filing of the proposed assessment rolls with the City Secretary to make available for public inspection; noticing two public hearings for October 23, 2023, to consider ordinances levying assessments on property located within the Haggard Farm Public Improvement District; directing City Staff to publish and mail notice of such public hearings. Staff has complied with those directives and with procedures set forth in Chapter 372 of the Texas Local Government Code. |
| | | | | | | | BACKGROUND The Haggard Farm Public Improvement District covers the eastern portion of the existing farm as shown on the map found in Exhibit A-1 (page 29) in the attached Service and Assessment Plan. In addition, a map of Major Improvement Area is shown in Exhibit A-3 on page 31.
The purpose of the PID is to finance public infrastructure (via bond sales) that historically would be the responsibility of the developer. The bonds will be repaid using proportional levies on the private property within the PID. Until the properties are sold to other entities, the current property owner is responsible for the entire yearly levy – starting in year one. It should be noted that while the City will be sponsoring the bond sales, the City is not responsible for the bonds repayment or performance.
The PID was divided into two areas to ensure each parcel was assessed according to the benefit it receives from the PID funded improvements. The tax rate equivalent for Major Improvement Area is $0.3312.
The attached ordinance adopts the plans and assesses (levies) the properties to repay bonds that will be considered in the companion item. |
| | | | | | | | FINANCIAL SUMMARY/STRATEGIC GOALS This item has no financial impact.
The Haggard Farm Public Improvement District relates to 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 | | Ordinance | 10/16/2023 | Ordinance |
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