CC MEETING: August 6, 2024
DATE: July 30, 2024
TO: Erin Rinehart, City Manager
FROM: Melissa Everett, Finance Director
Chrystal Davis, Assistant City Manager
Title
Consider An Ordinance Acknowledging Receipt Of The Carrollton Castle Hills Public Improvement District No. 1 Annual Service Plan Update.
Body
BACKGROUND:
The Carrollton Castle Hills Public Improvement District No. 1 (the "PID") was created on January 5, 2016 by Resolution No. 3890 in accordance with the Public Improvement District Act (the "PID Act") to reimburse the costs of certain public improvements (the "Public Improvement Project") for the benefit of the property in the PID. A Service and Assessment plan was subsequently prepared identifying the Public Improvement Project and its estimated costs and the manner of assessing the property in the PID for the costs of the Public Improvement Project. Following a public hearing held on February 2, 2016, the City accepted and approved the Service and Assessment Plan and levied assessments (the "Assessments") with the adoption of City of Carrollton Ordinance No. 3742 (the "Assessment Ordinance").
Pursuant to the PID Act, the Service and Assessment Plan is to be reviewed and updated annually and is to include an Assessment Plan. The attached Annual Service Plan Update was prepared by David Taussig & Associates, Inc., the vendor contracted to administer the PID. Staff has reviewed this update and tied key assessment figures back to the Service Assessment Plan adopted by council resolution.
FINANCIAL IMPLICATIONS:
The eighth assessment for this PID will be for the tax year 2024 and will be due in January 2025.
STAFF RECOMMENDATION/ACTION DESIRED:
Approve the attached ordinance acknowledging receipt of the annual service plan update.
Attachments:
Ordinance
Annual Service Plan Update Summary