Ord 2025-028 Consider approval of Ordinance 2025-28, on the first of two readings, approving the 2025 Annual Service Plan Update for the Whisper South Public Improvement District (2)

Home Browse Search

INTRODUCTION Capitalized terms used in this 2025 Annual Service Plan Update shall have the meanings set forth in the 2021 Service and Assessment Plan (the "2021 SAP"), used for the issuance of PID Bonds, unless otherwise specifically defined in this 2025 Annual Service Plan Update. On May 4, 2021, the City Council approved Resolution No. 2021-91R, creating the PID in accordance with the PID Act to finance certain Authorized Improvements for the benefit of certain property within the PID. On December 15, 2021, the City Council approved the 2021 SAP and levied $14,000,000 in Assessments to finance the Authorized Improvements to be constructed for the benefit of the Assessed Property within the PID by approving Ordinance No. 2021-97. The 2021 SAP identified the Authorized Improvements to be provided by the PID, the costs of the Authorized Improvements, the indebtedness to be incurred for the Authorized Improvements, and the manner of assessing the property in the PID for the costs of the Authorized Improvements. The City also adopted Assessment Rolls identifying the Assessment on each Lot within the PID, based on the method of assessment identified in the 2021 SAP. On October 3, 2022, the City Council approved the 2022 Annual Service Plan Update for the PID by Ordinance No. 2022-81, which updated the Assessment Rolls for 2022. On October 17, 2023, the City Council approved the Annual Service Plan Update for the PID by adopting Ordinance No. 2023-75, which updated the Assessment Rolls for 2023. On August 20, 2024, the City Council approved the 2024 Annual Service Plan Update for the PID by adopting Ordinance No. 2024-37, which updated the Assessment Rolls for 2024. The 2021 SAP identified the Authorized Improvements to be constructed for the benefit of the Assessed Parcels within the PID, the costs of the Authorized Improvements, the indebtedness to be incurred for the Authorized Improvements, and the manner of assessing the property in the PID for the costs of the Authorized Improvements. Pursuant to the PID Act, the 2021 SAP must be reviewed and updated annually. This document is the Annual Service Plan Update for 2025. The City Council also adopted an Assessment Roll identifying the Assessments on each Lot within the PID, based on the method of assessment identified in the 2021 SAP.This 2025 Annual Service Plan Update also updates the Assessment Rolls for 2025. WHISPER SOUTH PUBLIC IMPROVEMENT DISTRICT 2 2025 ANNUAL SERVICE PLAN UPDATE