Title
Consider and take action on an ordinance approving a 2024-25 annual service and assessment plan update for the League City Public Improvement District No. 5 (Park on Clear Creek) (Director of Finance)
Staff requests approval on first and final reading.
Background:
Approval of this ordinance will approve a 2024-25 annual update to the service and assessment plan ("SAP") for the Park on Clear Creek Public Improvement District ("PID 5"). Under Section 372.013(b) of the Texas Local Government Code, the City Council is required to annually review and potentially update the SAP. Staff is presenting a 2024-25 SAP for PID 5 in compliance with Section 372.013(b). Under this 2024-25 SAP update, the applicable assessment rates of PID 5 are not changing.
The original SAP was adopted by City Council on November 10, 1998 and such SAP was amended from time to time. This 2024-25 SAP update includes the projected five-year service plan. In addition, the 2024-25 SAP update confirms Actual Costs reimbursed to the Developer.
There are no changes proposed to the assessment methodology and the assessment rates for each phase.
Staff requests approval of this item on first and final reading.
Attachments:
1. Proposed Ordinance
2. Exhibit A - PID #5 2024-25 Annual Service Plan Update
FUNDING
{X} NOT APPLICABLE
STRATEGIC PLANNING
{X} Addresses Strategic Planning Critical Success Factor #2