Item 26: District Public Improvement District (“The District PID”) on approximately 100 acres of land Near East McCarty Lane and Rattler Road

[COSM_Admin]

Receive a Staff presentation and hold a Public Hearing to receive comments for or against Resolution 2025-164R, in accordance with Chapter 372 of the Texas Local Government Code: making findings as to the advisability of the improvements proposed in the petition to create the District Public Improvement District (“The District PID”) on approximately 100 acres of land located south of the intersection between East McCarty Lane and Rattler Road, establishing the district; and authorizing management of the district; and providing an effective date; and consider approval of Resolution 2025-164R.

 

[JHughson]

Please provide more detail about this on page 1259:
$60 million maximum indebtedness if recreational facility site is conveyed to City ($80 million maximum if site is not conveyed)
– Streets
– Mass grading
– Utilities
– Associated administrative costs
– Etc.

WHO will be indebted by $60 million?
Why $80 million maximum if site is not conveyed?
What is the impact if council does not approve this?

 

[COSM_Admin]

Response provided by Director of Finance, Jon Locke:
These are good questions that require additional time to respond. Our understanding is that the recommendation will be to postpone this item, which we support. The postponement will allow the time needed to research and provide a response to the questions.