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Home My WebLink AboutRES 121024-6.D - The Preserve at Water Oak PID - CreationRESOLUTION NO. I' Zy — 6 A RESOLUTION OF THE CITY OF GEORGETOWN, TEXAS, AUTHORIZING AND CREATING "THE PRESERVE AT WATER OAK PUBLIC IMPROVEMENT DISTRICT" AND MAKING RELATED FINDINGS AND DETERMINATIONS IN ACCORDANCE WITH CHAPTER 372 OF THE TEXAS LOCAL GOVERNMENT CODE. WHEREAS, the City of Georgetown, Texas (the "Cily") is authorized under Chapter 372 of the Texas Local Government Code, as amended (the "Act") to create a public improvement district; WHEREAS, on or about June 19, 2023, 3701 SH 29 LLC, a Texas limited liability company ("Owner") submitted and filed with the City Secretary of the City a petition (the "Petition"), attached to this Resolution as Exhibit "A" requesting the establishment of a public improvement district to be known as The Preserve at Water Oak Public Improvement District (the "District") over approximately 19.77 acres of land which is more particularly described by platted subdivision lot and block and general location in Exhibit "B" (the "Pro a ") which is attached and incorporated into this Resolution; and WHEREAS, the Petition indicates that the Owner is the sole owner of the Property and as such is (i) the owner of more than 50% of the appraised value of the taxable real property liable for assessment, and (ii) the owner of more than 50% of the area of all taxable real property liable for assessment within the District executed the Petition requesting that the governing body of the City (the "City Council") create the District, WHEREAS, the City Council has investigated and determined that the Petition complies with Section 372.005 of the Act, and the facts contained in the Petition are true and correct; WHEREAS, creation of the District will allow the public improvements generally described in the Petition to be constructed or installed which confer a special benefit on the assessed portions of the Property in the District (the "Authorized Improvements"); WHEREAS, creation of the District will also allow special assessments to be made against the assessed portions of the Property in the District to reimburse the Owner for an amount not to exceed the actual costs of designing, constructing and/or installing the Authorized Improvements, which assessment information is included in the attachments to the Petition prepared on behalf of the Owner by Development Planning & Financing Group, Inc.; WHEREAS, after providing all notices required by the Act and the Texas Government Code Chapter 551, the City Council on December 10, 2024, conducted a public hearing to consider comments for and against the creation of the District and the advisability of the proposed Authorized Improvements; WHEREAS, after considering all public comments, the City Council closed the public hearing; and Resolution No. 12.1024 — (6 . The Preserve at Water Oak PID — Creation Page i WHEREAS, the City Council desires to create a public improvement district as an incentive for Owner to construct non-residential buildings on the Property to accommodate commercial, retail, and professional services convenient to nearby residents. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GEORGETOWN TEXAS, THAT: Section 1. The findings set forth in the recitals of this Resolution are hereby found to be true and correct and are incorporated into this Section for all purposes by this reference. True and correct copies of the following documents are attached to this Resolution and are incorporated into this Section by this reference for all purposes: (a) the Petition attached as Exhibit "A," and (b) the Property Description attached as Exhibit "B." (together with all exhibits and attachments thereto) Section 2. Pursuant to the requirements of the Act, after considering the Petition and all public comments, the City Council hereby finds and declares. (a) Advisability of the Proposed Authorized Improvements. Itis advisable to construct the public improvements generally described in Section 2(b) of this Resolution as "Authorized Improvements." The proposed Authorized Improvements will promote the interests of the City and will confer a special benefit on the Property. (b)General Nature of the Proposed Authorized Improvements. The general nature of the proposed Authorized Improvements are: (i) acquisition, construction, and improvement of water and wastewater facilities; (ii) landscaping; (iii) acquisition, construction and improvement of drainage facilities; (iv) acquisition, construction and improvement of streets, roadways, rights -of -way and related facilities; (v) entry monuments and associated features; (vi) signage; (vii) projects similar to those listed in subsections (i) - (vi) above; and (viii) payment of costs associated with constructing and financing the Authorized Improvements listed in subparagraphs (i) - (vii) above, including costs of establishing, administering and operating the District. (c) ,Estimated Cost of the Proposed Authorized Improvements. Not to exceed TEN MILLION U.S. DOLLARS ($10,000,000.00) (including issuance and other financing costs). (d) Boundaries of the District. The boundaries of the District are set forth in the attached Exhibit "A". (e) Method of Assessment. As will be set forth in more detail in the Service and Assessment Plan and Assessment Roll for the District, an assessment methodology will be prepared that will address: (i) how the costs of the Authorized Improvements financed with the assessments are assessed against the property in the District, (ii) the assessments to be collected each year, and (iii) reduction of the assessments for costs savings (pursuant to the annual review of the service plan for the District). Additionally, a report will be prepared Resolution No. l n [ 2.Lu — E+ The Preserve at Water Oak PID — Creation Page 2 showing the special benefits accruing to property in the District and how the costs of the Authorized Improvements are assessed to property on the basis of the special benefits. The result will be that equal shares of the costs will be imposed on property similarly benefited. The assessment methodology will be described in the Service and Assessment Plan and Assessment Roll for the District and will result in each specially benefitted, assessable parcel paying its fair share of the costs of the Authorized improvements provided with the assessments based on the special benefits received by the property from the Authorized Improvements and property equally situated paying equal shares of the costs of the Authorized Improvements. (f) Apportionment of frost Between the District and the City. Approval and creation of the District will not obligate the City to provide any funds to finance the proposed Authorized Improvements or any other improvements or costs. All of the costs of the proposed Authorized Improvements will be paid by special assessments levied on the assessed property within the District, from the Owner, and from other sources of funds, if any, available to the Owner. (g) Management of the District. The City will manage the District, or, to the extent allowed by law, the City may contract with either a non-profit or a for -profit entity, to carry out all or a part of the responsibilities of managing the District, including the day-to-day management and administration of the District, preparation of annual updates to the Service and Assessment Plan, budgets, and other tasks associated with the District. (h) Advisory Board. An advisory board for the District will not be established by the City Council of the City. Section 3. A public improvement district to be known as "The Preserve at Water Oak Public Improvement District" having the boundaries described by legal description in the attached Exhibit "B" is hereby authorized and created under the Act. Section 4. This Resolution shall take effect immediately upon adoption by the City and the District shall be established on the date hereof (the "District Creation Date"). Section'5. Owner (or its successors or assigns) shall petition the City to dissolve the District if public improvement district bonds have not been issued for Authorized Improvements within four (4) years after the District Creation Date. Section 6. City Council hereby authorizes and directs City staff to file a ' copy of this Resolution with the Williamson County Clerk within seven (7) days of the date of its adoption per Section; 372.010(b) of the Act, and to prepare the required notices, resolutions, ordinances, agreements, cost determinations, service and assessment plans, assessment rolls, and all other documents and information necessary for the City Council to levy special assessments on assessed portions of the Property in the District as authorized by the Act and actions of the City Council. Resolution No. 1 Zto ZA4 _'(*. The Preserve at Water Oak PID Creation Page 3' EXHIBIT LIST: Exhibit A - The Petition Exhibit B - The Property Description PASSED AND APPROVED on this Jp � ay of December, 2024. CITY OF ORGETOWN, TEXAS By: J Schroe , Mayor Attest: By: Robyn nsmore, City Secretary APPROVED AS TO FORM: By: � L kr—�— ye ason, City Attorney Resolution No. 'I Z It) -, %a . The Preserve at Water Oak PID — Creation Page 4 EXHIBIT "A" THE PETITION Exhibit A to Resolution No. 17. to 2,14 — 6 . The Preserve at Water Oak PID — Creation i s i� f! F Y i A y �R r ! Y > 4 i • i i.. i P' ;+ i i • i i i ! - t i i i c i ® i i i i i e •- i i -`- i 4 i i- - i i + • i ii' i �� i i' i i i i i- i io-.. i -ii ' 1 i �'a 4 ii . -i i i ii' ! 1 !i i iii i i"• •. i i i ! i ii- i i �'ii i i iii" r i i' i r i i i i 4 ' 4ti "i i i i - ®" i i i e•" i - i iii 'i i • i i i i i i. i i i i" i« i°' i' • i i i - i i i i i, i i ! i i i e i e. a i" i i i 'Y .pi i ^ i i i i i i! i i i + i • i i i ii i i.i i 4 'i i. i, ii i i. i i i i ! i + i i i i i 6 i!« «+ «• «ii i + i� i . i. + i • i i i" " � i i i i i i iii i i i i ° i i i '( • i i iii -i t i � ��i 1!i i • i i • i : i i. i iii " i i• f. i ! i" i'• i ® i i i ! i i - iii i i' i i+ i :ii i i i i i i i -i .. i i i i i � ® i i i for the District). Additionally, a report will be prepared showing the special benefits accruing to property in the District and how the costs of the public improvements are assessed to property on the basis of the special benefits. The result will be that equal shares of the costs will be imposed on property similarly benefited. The assessment' methodology will result in each parcel paying its fair share of the costs of the public improvements provided with the assessments based on the specialbenefits received by the property from the public improvements and property equally situated paying equal shares of the costs of the public improvements. Section 6. Apportionment of Cost between the City and the District. Approval and creation of the PID will not obligate the City to provide any funds to finance the proposed public improvements. All of the costs of the proposed public improvements will be paid by assessments of the property within the District and from other sources of funds, if any, available to the owner of the Land. Section 7 Management of the District. The City will manage the District or, to the extent allowed by law, the City may contract with either a non-profit, or a for -profit organization including a Public Facilities Corporation created by the City pursuant to Chapter 303, Texas Local Government Code, to carry out all or a part of the responsibilities of managing the District including the day -today management and administration of the District. Section 8. Advice Board, An advisory board may established by the City Council of the City (the "City Councir') and recommend an improvement plan to the City Council. The signers of this petition request the establishment for the District and this petition will be filed with the City Secretary in support of the creation of the District by the City Council a herein provided. [Signature on following page] PETITIONER: 3701=SH29 LLC, a Texas limited liability company By: �'j N � '-n Name.''ttAw� Title: THE STATE OF TEXAS {CO T TY OF THIS 1NST UMENT is acknowledged before e on this `day of 2023, b 1 t as Qi of 3701 SH29 LLC, a Texas limited liability company, on behalf of said limited liability company. oy JASMINE OGwo L : Notary Id #131207344 My Commission Expires N�jary Ublic, tare oY Texas ' as July 13, 2025 LEGAL DESCRIPTION BEARING BASIS NOTE: The bearings described herein are Texas Mate Plane Grid bearings (Texas Central Zone; NAD 3). EXHIBIT B The Property (District Boundaries)