Title
A resolution accepting the preliminary Service and Assessment Plan for authorized improvements within Improvement Area C-4 of the Solterra Public Improvement District, setting a date for public hearing on the proposed levy of assessments, authorizing the publication and mailing of notice, and enacting other provisions relating thereto.
Body
Chapter 372 of the Texas Local Government Code, the Public Improvement District Assessment Act, as amended (PID Act), governs the creation and operation of public improvement districts within the State of Texas. The attached Solterra Public Improvement District preliminary Service and Assessment Plan (SAP) has been prepared by the City’s PID Administrator, P3Works, LLC., in consultation with City staff and both the City’s financial advisor, Hilltop Securities, and bond counsel, Bracewell, in accordance with the PID Act.
This proposed resolution provides for the acceptance of the preliminary SAP, which has been prepared to include an Assessment Roll for assessed property within Improvement Area C-4 to be developed by Lennar Homes of Texas Land and Construction, Ltd. within the District. The preliminary SAP includes the following elements:
• Plan Description
• Property included within the PID by Improvement Zone and Improvement Area
• Description of Authorized Improvements
• Service Plan
• Assessment Plan
• Assessment Methodology and Allocation
• Terms of the Assessments
• Assessment Roll
• Homebuyer Disclosures by Lot Type
The PID Act also requires the City Secretary to publish notice of the governing body’s intention to consider the proposed assessments at a public hearing. The public hearing for the levy of assessments on property within the Improvement Area is scheduled for the October 20, 2025, City Council meeting. Any changes to the preliminary SAP will be incorporated into final bond documents that will be approved by ordinance when PID reimbursement bonds are issued. The attached resolution provides for the acceptance of the preliminary Service and Assessment Plan and Assessment Roll and calls the public hearing for October 20, 2025.
Recommended/Desired Action
Staff recommends approval of the resolution.
Attachment(s)
Resolution
Drafter
Ted Chinn
Head of Department
Cliff Keheley