Res 2016-150/approving the Landowner Agreement and Notice of Special Assessments Agreement with Highpointe Trace, LLC for the Trace Public Improvement District (PID).

Home Browse Search

Section III DESCRIPTION OF THE PUBLIC IMPROVEMENTS A. Authorized Improvement Overview Section 372.003 of the PID Act identifies the authorized improvements that a City may choose to undertake with the establishment of a PID. The Authorized Improvements identified in the PID Act include: (i) landscaping; (ii) erection of fountains, distinctive lighting, and signs; (iii) acquiring, constructing, improving, widening, narrowing, closing, or rerouting of sidewalks or of streets, any other roadways, or their rights -of way; (iv) construction or improvement of pedestrian mall; (v) acquisition and installment of pieces of art; (vi) acquisition, construction or improvement of libraries; (vii) acquisition, construction or improvement of off-street parking facilities; (viii) acquisition, construction or improvement of rerouting of mass transportation facilities; (ix) acquisition, construction or improvement of water, wastewater, or drainage facilities or improvements; (x) the establishment or improvement of parks; (xi) projects similar to those listed in Subdivisions (i) -(x) (xii) acquisition, by purchase or otherwise, of real property in connection with an authorized improvement; (xiii) special supplemental services for improvement and promotion of the district, including services relating to advertising, promotion, health and sanitation, water and wastewater, public safety, security, business recruitment, development recreation and cultural enhancement; (xiv) payment of expenses incurred in the establishment, administration and operation of the district; and (xv) the development, rehabilitation, or expansion of affordable housing. The City has determined that of the improvements authorized under the PID Act, it will undertake at this time only those Public Improvements more particularly described in Section III.B. B. Descriptions and Estimated Costs of the Major Public Improvements The Major Public Improvements are described below and generally depicted in Annendix EE=1. Table III -A shows the estimated Actual Costs of the Major Public Improvements to be funded by the Major Public Improvement PID Bonds. The estimated Actual Costs to construct the initial Major Public Improvements, is $9,334,058. The costs shown in Table III -A are estimates and may be revised in Annual Service Plan Updates. 10