Title
Consider and take action on an ordinance approving the 2020-21 annual service and assessment plan update for the League City Public Improvement District No. 1 (Magnolia Creek) (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 League City Public Improvement District No. 1 ("PID 1"). 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 1 in compliance with Section 372.013(b). Under the 2020-21 SAP update, the applicable assessment rates of PID 1 are not changing.
The original SAP was adopted by City Council on December 14, 1999 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 Phase 3, Phase 4 and Section 13 of PID 1 as $76,944, $282,417 and $285,627, respectively.
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 #1 2020-21 Annual Service Plan Update
FUNDING
{ } Funds are available from Account #________
{ } Requires Budget Amendment to transfer from Account #______ to Account #______
{X} NOT APPLICABLE
STRATEGIC PLANNING
{X} Addresses Strategic Planning Critical Success Factor # __2____ and Initiative # ______
{ } NOT APPLICABLE