Title
Consider and take action on an ordinance approving a service and assessment plan and levying an assessment for and on behalf of City of League City Public Improvement District #1, Section 5B and the remaining commercial property tracts (Deputy City Attorney)
Staff recommends approval on first and final reading.
Background:
Approval of this ordinance will approve a service and assessment plan and levying an assessment for and on behalf of City of League City Public Improvement District #1 (“PID 1”), Section 5B and the remaining commercial tracts of property.
Under Chapter 372 of the Texas Local Government Code, a public improvement district may be established within the city limits or the extraterritorial jurisdiction of a municipality for the reimbursement of expenses associated with improvement projects in the public improvement District. PID 1 was created on November 18, 1997 to finance improvements in the Magnolia Creek subdivision.
Local Government Code 372.016 states that after the total cost of an improvement is determined, the City shall prepare a proposed assessment roll. The roll must state the assessment against each parcel of land in the district, as determined by the method of assessment chosen by the municipality. The actual PID 1 assessment rate is based on two components: master costs and neighborhood costs. The master costs are shared by all sections of PID 1. As the sections of PID 1 were developed, each section was responsible for paying for its share of the master costs.
For this assessment levy, the City is considering the remaining unassessed sections of PID 1, which include the remaining residential section, the undeveloped commercial section and the commercial portion where the Lighthouse facility is located.
Remaining Residential Section:
The residential properties in this section will be assessed at a rate of $2.28 per square foot over a 15-year period beginning on January 31, 2021. The assessment roll for each resi...
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