AGENDA CAPTION:
Title
Receive a Staff presentation and hold a Public Hearing to receive comments for or against Resolution 2021-87R and Resolution 2021-91R, making finds as to the advisability of the improvements proposed in the Whisper South Public Improvement District; creating the Whisper South Public Improvement District in accordance with Chapter 372 of the Texas Local Government Code; and consider approval of Resolution 2021-87R and Resolution 2021-91R.
Body
Meeting date: May 4, 2021
Department: Planning & Development Services
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: Click or tap here to enter text.
City Council Strategic Initiative: [Please select from the dropdown menu below]
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Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
☐ Economic Development - Choose an item.
☐ Environment & Resource Protection - Choose an item.
☒ Land Use - Direct Growth, Compatible with Surrounding Uses
☐ Neighborhoods & Housing - Diversified housing options to serve citizens with varying needs and interests
☐ Parks, Public Spaces & Facilities - Collection of connected and easily navigated parks and public spaces
☐ Transportation - Safe, Well coordinated transportation system implemented in an environmentally sensitive manner
☐ Core Services
☐ Not Applicable
Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
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Background Information:
December 15, 2020 - City Council appointed a committee to negotiate the terms of a Public Improvement District (PID) for the Whisper South Development.
January & March, 2021 - The Council Committee met with staff and the developer to negotiate the terms presented in the attached term sheet.
In summary, the PID term sheet:
• Authorizes funding for public improvements within the Whisper South Development including water, wastewater, roads, and parks, in an amount not to exceed $14 million. These funds are provided to the developer in the form of bonds which are repaid by property owners within the boundaries of the PID.
• Requires a Development Agreement including provisions for annexation of the property currently in the Extraterritorial Jurisdiction (ETJ) and zoning of the entire project.
• Requires inclusion of the property in the City’s water & wastewater CCN. *Note, a portion of the property currently within Maxwell Special Utility District will remain in that SUD.
• Requires dedication of land for the city’s bypass channel project which is a long-term flood prevention solution.
Council Committee, Board/Commission Action:
The Whisper South Council Committee recommended approval of the term sheet.
Alternatives:
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Recommendation:
Staff recommends approval of the term sheet as presented.