Title
Consider and take action on a resolution consenting to the annexation by South Shore Harbour Municipal Utility District # 7 of 37+ acres generally located east of Enterprise Drive, north of FM 2094 (Marina Bay Drive), and west of Lakeside Drive and West Drive (Director of Planning and Development)
Background:
Approval of this resolution will consent to the annexation by South Shore Harbour Municipal Utility District # 7 of 37+ acres generally located east of Enterprise Drive, north of FM 2094 (Marina Bay Drive), and west of Lakeside Drive and West Drive
• The existing boundaries of the South Shore Harbor Municipal Utility District #7 (the “District”) contain approximately 472 acres of territory within the League City limits, including the Lakes of South Shore Harbour neighborhood and the adjacent Kroger shopping center development (see attached Exhibit A).
• On or about May 10, 2016, Joe Watson, c/o Town Harbour Estates, LLC, requested and received approval from the District’s Board of Directors to have approximately 37 acres of land annexed into the District. Said 37 acres is the site of a soon-to-be proposed residential development.
• According to the attached request, petition, and City staff discussions with the District’s engineer, the proposed annexation would not lead to the issuance by the District of additional bonds to fund infrastructure in the annexed area:
o The District has approximately $1.6M is reserve funds that must be spent in the near future;
o If said reserve funds were dedicated to existing bond debt, such would reduce the District’s existing tax rate by approximately $0.03;
o However, if said reserve funds were dedicated to the newly annexed area and its (estimated) $50M in additional taxable value, such would reduce the District’s tax rate by approximately $0.10. Hence the Board’s interest and desire to participate in the proposed new development.
• Pursuant to Ch. 42 of the Texas Local Government Code and Ch. 54 of the Texas Water Code, the District may not add land without the City’s written consent.
Staff recommends City Council approve the resolution consenting to the annexation of land into South Shore Harbour MUD #7 as requested in the District’s petition.
Attachments:
1. Data Sheet
2. Proposed Resolution
3. Exhibit A - Metes and Bounds
3. Letter of Request from SSH MUD #7
4. Map of SSH MUD #7
5. Petition
CONTRACT ORIGINATION:
FUNDING
{X } NOT APPLICABLE
{ } Funds are available from Account #___________________________
{ } Requires Budget Amendment to transfer from Account #____________to Account # ___________________