City Council Meeting


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  G.1.       
Meeting Date: 03/17/2020  
Submitted For: M. Renee Johnson Contact: Alicia Thomas, Assistant City Secretary
Also Contact: Joseph Gorfida, Jr., City Attorney
Phone: 214-965-9900  

COUNCIL ACTION
Motion by Mayor Pro Tem Moore with a second by Councilmember Brown-Patrick to approve as presented. Motion passes 7-0.
AGENDA ITEM:
Consider a Resolution accepting a petition and creation of the Danieldale Homestead public improvement district within the City of DeSoto pursuant to Chapter 372 Texas Local Government Code.
BACKGROUND:
Wildwood Development Company I, LTD., submitted the attached petition for the creation of a Public Improvement District (PID) in accordance with Chapter 372 of the Texas Local Government Code.  The purpose of establishing this PID is to fund public improvements that are necessary in developing the mixed use project known as the Danieldale Homestead Development, located in the City of DeSoto at or near the major intersections of Bolton Boone and Danieldale.  The proposed mixed use site plan is attached.
FINDINGS:
The creation of the PID will allow the developer to levy assessments on the properties within the PID to pay for debt service costs related to the issuing of bonds to fund public infrastructure.
FINANCIAL IMPACT:
While there is no anticipated adverse fiscal impact to the City, it is anticipated that both the private investment, coupled with the PID investment into public infrastructure, will lead to the creation of new tax revenue for the City, as well as improvement to the overall quality of life for DeSoto residents.
RECOMMENDATION:
Council may make a motion to approve/deny or table the Resolution for the creation of the public improvement district as presented.
MANAGEMENT REVIEW
Attachments
Wildwood PID Resolution


    

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