Title
Consider and take action on an ordinance approving a 2023-24 annual service and assessment plan update for the League City Public Improvement District No. 5 (Park on Clear Creek) (Director of Finance)
Staff requests approval on first and final reading.
Background:
Approval of this ordinance will approve a 2023-24 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 a 2023-24 SAP for PID 5 in compliance with Section 372.013(b). Under this 2023-24 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. Part I of the 2023-24 SAP update was approved by City Council on September 26, 2023. This Part II of the 2023-24 SAP update includes the projected five-year service plan. In addition, the Part II 2023-24 SAP update confirms Actual Costs reimbursed to the Developer.
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. Proposed Ordinance with a 2023-24 Annual Service Plan Update
2. Exhibit A - League City PID 5 - Annual Service Plan Update 2023-24 Final
3. League City PID 5 - Annual Service Plan Update 2023-24 Redline
FUNDING
{X} NOT APPLICABLE
STRATEGIC PLANNING
{X} NOT APPLICABLE