SUBJECT: An Ordinance approving and adopting an updated ongoing Service and Assessment Plan for and on behalf of Lamar Terrace Public Improvement District No. 2 covering the period through 2024.
RECOMMENDATION: (Summary)
That City Council adopt an ordinance approving an updated ongoing Service & Assessment Plan for and on behalf of the Lamar Terrace Public Improvement District No.2 covering the period through 2024.
SPECIFIC EXPLANATION:
In August 1995, City Council passed a resolution for the establishment of the Lamar Terrace Public Improvement District (“PID”) No. 2 to perform capital improvement projects and maintenance services. In January 1997, Ordinance No. 97-64 was adopted for a Memorandum of Agreement (“MOA”) between the City and the St. George Place Redevelopment Authority (“Authority”) to perform the functions of the PID. Under the Financial Services Agreement approved in April 2003, Ordinance 2003-432, the Authority was allowed to fulfill its obligations under the 1997 MOA. The agreement allows the City to pay collected PID assessments to the Authority for costs associated with the PID Service & Assessment plan. In accordance with Chapter 372 of the local Government Code, Council is required to approve an annually updated Service and Assessment Plan for purposes of determining the annual assessment rate and budget. As of 2005, the capital improvements for the Western Redevelopment Area have been completed. The last approved Plan was adopted by ordinance in June 2014.
The plan is hereby submitted for the budget year 2015 (public safety, administration of development regulations, and maintenance services), as approved by the Board. There has been no change in assessment ($0.07/sf. of each lot). Council’s action will ratify the Plan and Assessments which have been previously implemented by the Board.
cc: Marta Crinejo, Agenda Director
Anna Russell, City Secretary
Donna Edmundson, City Attorney
Gary Dzierlenga, Sr. Assistant City Attorney