Title
Consider and take action on an ordinance approving the calendar year 2020 annual service and assessment plan update for the Park on Clear Creek Public Improvement District (PID 5) (Director of Finance)
Staff requests approval on first and final reading.
Background:
Approval of this ordinance will approve the 2020-21 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 the 2020-21 SAP for PID 5 in compliance with Section 372.013(b). Under the 2020-21 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. The 2020-21 SAP update includes the projected five-year service plan and shows the 2020-21 annual installments to be collected from parcels within PID 5 as $278,098.
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. Data Sheet
2. Proposed Ordinance
3. Exhibit A - PID 5- Annual Service Plan Update 2020
FUNDING
{X} NOT APPLICABLE
STRATEGIC PLANNING
{x} Addresses Strategic Planning Critical Success Factor #2 and Initiative #