Public Improvement District. A Public Improvement District is a public financing vehicle (Chapter 372 of the Texas Local Code) that can be used to finance the cost of public infrastructure related to his project. Under a Public Improvement District: • A Public Improvement District is formed over property that will benefit from public improvement projects to be constructed • Assessments are levied in a manner that apportions costs according to the benefits received from the public improvements • Bonds are issued to fund the improvements. Xxxx proceeds are deposited to a construction fund • As eligible projects are completed, the proceeds in the construction fund are used to acquire facilities from the developer • Assessments are paid by the property owners (usually over a period of years, although assessments may be prepaid in full or in part at any time). Assessments transfer along with title to the property. Therefore, end users typically pay the bulk of assessments. This is fitting, as the public improvements benefit the end users’ property. Neighborhood Empowerment Zone A Neighborhood Empowerment Zone is a tool for cities that would promote at least one of the following: (1) the creation of affordable housing, including manufactured housing, in the zone; (2) an increase in economic development in the zone;
Public Improvement District. TBD Additional mill levies for regional improvements such as I70 interchange, Schools, 1st Creek Bridges, Rec Center, etc. will be required Objective is for Phase 2 total mill levies not to exceed Phase 1 total mill levies Building Permit TBD EXHIBIT H FORM OF BUILDER DESIGNATION RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: KB Home 0000 X. Xxxxxx Avenue, Suite 180 Las Vegas, Nevada 89118 Attn: Xxxxxxx Xxxxxx, Esq. DESIGNATION OF BUILDER THIS DESIGNATION OF BUILDER (this "Designation") is made and entered into this ____ day of ________ 20__ (the "Effective Date"), by and between PCY HOLDINGS, LLC, a Colorado limited liability company ("Developer"), whose address is 34501 E. Quincy Ave, Xxxx. 00, Xxx 00, Xxxxxxx, XX 00000, and KB HOME COLORADO INC., a Colorado corporation ("KB"), whose legal address is 0000 Xxxx Xxxxxxxx Xxxxxx, Xxxxx 000, Xxxxxxxxxx, Xxxxxxxx 00000.
Public Improvement District. TBD Additional mill levies for regional improvements such as I70 interchange, Schools, 1st Creek Bridges, Rec Center, etc. will be required Objective is for Phase 2 total mill levies not to exceed Phase 1 total mill levies Building Permit TBD EXHIBIT H FORM OF BUILDER DESIGNATION RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO:
Public Improvement District. Section 3.01. Creation. The PID was created by Resolution No. 2019-01-14-R-01 adopted by the City on January 14, 2019.
Public Improvement District. (A) The Parties acknowledge and anticipate that the Developer will submit a petition for the formation of a Public Improvement District to the City. The City shall use its best efforts to initiate and approve all necessary documents and ordinances required to effectuate this Agreement, to consider the creation of the PID, to consider the levy the Assessments (as defined in a Service and Assessment Plan), and consider the issuance of PID Bonds. The City may approve the Service and Assessment Plan providing for the levy of the Assessments on the Property. The City and the Developer will jointly determine the PID Project Costs and prepare a Service and Assessment Plan for the PID. After the City approves the final PID Project Costs, prepares a proposed assessment roll based thereon, and files the Service and Assessment Plan and proposed assessment roll for public inspection, the City will levy special assessments against the Property. Promptly following preparation and approval of a Service and Assessment Plan acceptable the City and subject to the City Council making findings that the Authorized Improvements confer a special benefit on the Property, the City Council shall consider an Assessment Ordinance. Nothing contained in this Agreement, however, shall be construed as creating a contractual obligation that controls, waives, or supplants the City Council’s legislative discretion or functions.
Public Improvement District. If the Property is in a public improvement district, Section
Public Improvement District. In connection with the above referenced payment, the Developer represents and warrants to the City as follows:
Public Improvement District. If the Property is in a public improvement district, Section 5.014 of the Texas Property Code requires Seller to deliver and the Buyer to sign the required statutory notice.
Public Improvement District. A Public Improvement District is a public financing vehicle (Chapter 372 of the Texas Local Code) that can be used to finance the cost of public infrastructure related to his project. Under a Public Improvement District: • A Public Improvement District is formed over property that will benefit from public improvement projects to be constructed • Assessments are levied in a manner that apportions costs according to the benefits received from the public improvements • Bonds are issued to fund the improvements. Bond proceeds are deposited to a construction fund • As eligible projects are completed, the proceeds in the construction fund are used to acquire facilities from the developer • Assessments are paid by the property owners (usually over a period of years, although assessments may be prepaid in full or in part at any time). Assessments transfer along with title to the property. Therefore, end users typically pay the bulk of assessments. This is fitting, as the public improvements benefit the end users’ property. Neighborhood Empowerment Zone A Neighborhood Empowerment Zone is a tool for cities that would promote at least one of the following: (1) the creation of affordable housing, including manufactured housing, in the zone; (2) an increase in economic development in the zone; (3) an increase in the quality of social services, education, or public safety provided to residents in the zone; or (4) the rehabilitation of affordable housing in the zone. Tax Code § 378.002. A city may offer the following incentives within a neighborhood empowerment zone: (1) waive building, inspection, or impact fees; (2) enter into sales tax rebate agreements lasting up to ten years; (3) enter into property tax abatement agreements lasting up to ten years; and (4) set baseline performance standards to encourage alternative building materials that address environmental or energy consumption concerns. Tax Code § 378.004.
Public Improvement District
