AGENDA CAPTION:
Title
Consider the appointment of up to three City Council members to a committee to discuss and make a recommendation to the City Council regarding developer requested amendments to the terms of the River Bridge Ranch Public Improvement District.
Body
Meeting date: November 6, 2024
Department: Planning and Development Services, Finance, Legal
Amount & Source of Funding
Funds Required: N/A
Account Number: N/A
Funds Available: N/A
Account Name: N/A
Fiscal Note:
Prior Council Action: City Council approved a Settlement Agreement for this development on October 29, 2020.
City Council Strategic Initiative: [Please select from the dropdown menu below]
Quality of Life & Sense of Place
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Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
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☐ Core Services
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Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
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Background Information:
A public improvement district (PID) is an economic tool available through Chapter 372 of the Local Government Code. PIDs fund public improvements (i.e., water, wastewater, streets, etc.) that benefit the area within the boundaries of the district. Landowners within the PID pay for the public improvements through assessments, rather than the general tax base paying for the improvements.
On October 8, 2020, the Mayan at San Marcos River, LLC submitted a petition requesting the establishment of a PID to be known as the River Bridge Ranch PID. The formation of the PID was part of an annexation settlement agreement between the Mayan at San Marcos River, LLC, the City of Martindale, and the City of San Marcos. City Council approved the terms of the settlement with Resolution 2020-232R.
On October 29, 2020, City Council approved the formation of the River Bridge Ranch PID with Resolution 2020-233R. The authorized improvements included wastewater and buffer improvements with a cap of $10,000,000. The property has subsequently changed owners and is now owned by Lennar.
Lennar reached out to the City and inquired about amending the PID to account for inflation and include additional public improvements. The estimated authorized improvements total $46,631,856 with a proposed cap of $60,000,000. The public improvements are expanded to include streets, drainage, water, and wastewater. There is also internal discussion of the impact the development will have on other city services.
Council Committee, Board/Commission Action:
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Alternatives:
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Recommendation:
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