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. 2 (Victory Center) (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. 2 ("PID 2"). 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 2 in compliance with Section 372.013(b). Under the 2020-21 SAP update, the applicable assessment rates of PID 2 are not changing.
The original SAP was adopted by City Council on March 13, 2001 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 1, Phase 2, Phase 3, Phase 4, Phase 5 and Phase 6 of PID 2 as $199, $2,261, $8,272, $21,773, $28,428 and $43,888, 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 2- Annual Service Plan Update 2020
FUNDING
{x} NOT APPLICABLE
STRATEGIC
{x} Addresses Strategic Planning Critical Success Factor #2 and Initiative#