Title
An ordinance approving an update of the Service and Assessment Plan and Assessment Roll for Phase #1 Improvements and Phase #2 Major Improvements for the Heartland Town Center Public Improvement District (the "District"); making and adopting findings; accepting and approving the Annual Service Plan Update and updated Assessment Roll for the District; requiring compliance with Chapter 372, Texas Local Government Code, as amended; providing a cumulative repealer clause; providing for severability and providing an effective date.
Body
Section 372.013 of the Texas Local Government Code (PID Act) requires the City Council to review and approve annual updates to a Public Improvement District (PID) Service and Assessment Plan (SAP) to reflect any changes required for billing and collection of annual assessments, revisions in actual costs of authorized improvements and to determine the annual budget for planned improvements.
The Heartland Town Center PID was created on December 18, 2017, and on September 4, 2018, the City issued special assessment revenue bonds to finance authorized public improvements within the PID. DTA, Inc., the City's PID Administrator for the Heartland Town Center PID, has updated the Assessment Roll in conjunction with the Annual Service Plan Update to reflect the following:
* Identification of each Parcel
* Assessment for each Parcel of Assessed Property, including any adjustments authorized by the SAP and the PID Act
* Annual Installment for the Assessed Property for the year
* Payments of the Assessment, if any, as provided in the SAP
This is the third annual update to the SAP; the first update was approved by the City Council on September 3, 2019, and the second update was approved on August 3, 2020. This year's update includes substantial changes to the Assessment Roll to reflect DCAD parcels created for the home lots in Phase 1, and the Service Plan has been updated to cover the next five-year period.
Of the 210 lots in Phase 1, ...
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