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) Section 5B and Commercial Parcels (Executive Director of Finance & Project Management)
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) Section 5B and Commercial Parcels. 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 Section 5B and Commercial Parcels in compliance with Section 372.013(b). Under the 2020-21 SAP update, the applicable assessment rates of PID 1 Section 5B and Commercial Parcels 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 Section 5B Residential Property, Commercial-General Property, and Commercial Lighthouse-Property of PID 1 as $122,226, $37,854, and $6,552, respectively.
There are no changes proposed to the assessment methodology and the assessment rates for each phase.
Staff is recommending approval of this item on first and final reading.
Attachments:
1. Data Sheet
2. Proposed Ordinance with 2020-21 Annual Service Plan Update
FUNDING
{X} NOT APPLICABLE
STRATEGIC PLANNING
{X} Addresses Strategic Planning Critical Success Factor #2 and Initiative # N/A