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CITY COUNCIL AGENDA MEMO |
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| | | | | | | | | MEETING DATE: | 8/12/2024 | | DEPARTMENT: | Special Projects | | DIRECTOR: | Peter Braster, Director of Special Projects | | AGENDA ITEM: | 2024 Annual Update for Haggard Farm PID SAP | | RECOMMENDED ACTION: | Adoption of Ordinances |
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| | | | | | | | ITEM SUMMARY To accept and approve the Annual Update of the Service and Assessment Plan and Assessment Roll for the Haggard Farm Public Improvement District in accordance with Texas Local Government Code §372.013, as amended; providing a cumulative clause; providing a severability clause; and providing an effective date. Adopted Ordinance No. 2024-8-3 |
| | | | | | | | PREVIOUS ACTION/PRESENTATION On January 9, 2023, the City Council approved Resolution No. 2023-1-7(R) establishing the Haggard Farm Public Improvement District in accordance with the provisions of Chapter 372 of the Texas Local Government Code. Furthermore, City Council approved assessments against properties within the PID, pursuant to Ordinance No. 2023-10-13 and Ordinance No. 2023-10-15, which ordinances also approved the Haggard Farm Public Improvement District Service and Assessment Plan and the Assessment Roll. |
| | | | | | | | BACKGROUND Each year and pursuant to Section 372.013 of the PID Act, the service and assessment plan must be reviewed and updated for the purpose of determining the annual budget for improvements. In addition, the plans must cover a period of at least five years and must also define the annual indebtedness and projected costs for improvements. This ordinance fulfills those annual requirements. |
| | | | | | | | FINANCIAL SUMMARY/STRATEGIC GOALS This item is for approval of the 2024 Haggard Farm PID Service and Assessment Plan update and has no immediate financial impact.
Approval of this item supports the City's Strategic Plan Critical Success Factor of Residential and Commercial Economic Vitality. |
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