City Council Combined AGENDA


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  18.       
Meeting Date: 08/15/2019  
Prepared By: Robert Powers, Finance Director

AGENDA SUBJECT:
Conduct a Public Hearing to consider the adoption of an updated Service and Assessment Plan for Calendar Year 2019 for the Deerbrooke Public Improvement District and an updated assessment roll to apportion assessments levied against property located in the District among subdivided lots.
 
  • Discuss and consider action on an Ordinance adopting an updated Service and Assessment Plan for Calendar Year 2019 for the Deerbrooke Public Improvement District and an updated assessment roll to apportion assessments levied against property located in the District among subdivided lots.
BACKGROUND:
City Council approved the Deerbrooke PID on June 15, 2017.  On October 19, 2017, City Council approved the issuance of Special Revenue Assessment Bonds in the amount of Eight Million Six Hundred Fifty Thousand ($8,650,000) Dollars for the Southern Improvement District (SIA) and Two Million Five Hundred Thirty-Five Thousand ($2,535,000) Dollars for the Northern Improvement District (NIA.)  At that time, the Service and Assessment Plan (SAP) was updated to apportion the debt service costs to the parcels and lots within the boundaries of the PID.  State law requires that the City Council review and approve an annual update to the Service and Assessment Plan.  In addition to the debt service associated with the bonds, the SAP also includes the City's administrative costs in administering the PID.  It is recommended that a public hearing be held prior to consideration and approval of the SAP. The assessments will be included with the tax bills that go out in October 2019.   Property owners within the PID have been notified of the public hearing as well as notice was published in the Hill Country News on August 1, 2019.

The assessment schedules for each lot type have not changed from the prior year.

Deerbrooke PID 2019 Annual Service Plan Update

 
RECOMMENDATION:
Conduct Public Hearing.  Approve the Service and Assessment Plan.
PRESENTER:
Robert Powers, Finance Director
Attachments
1. Deerbrooke Schedule
2. Approved Projects
3. Deerbrooke PID Ordinance


    

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