Title
Conduct a Public Hearing and consider approving Resolution No. 2017-028 creating the Mercer Crossing Public Improvement District within the City of Farmers Branch, pursuant to Chapter 372 of the Texas Local Government Code; and take appropriate action.
Body
BACKGROUND:
On January 4, 2017, CADG Mercer Crossing Holdings, LLC submitted a petition to create a public improvement district on the City’s west side. In accordance with state law, the petition included the:
• General nature of the proposed improvement
• Estimated cost of the improvement
• Boundaries of the proposed district
• Proposed method of assessment
• Proposed apportionment of cost between the district and the City
• Proposed management of the district
The petition has been signed by the owners of taxable real property representing more than 50 percent of the appraised value of taxable real property liable for assessment under the proposal, as determined by the current roll of the Dallas Central Appraisal District.
Subsequent Council action to approve and levy an assessment for public improvements within the district will be requested at a special City Council meeting scheduled for March 1, 2017.
DISCUSSION:
Resolution No. 2017-028 provides for the establishment of Mercer Crossing Public Improvement District in accordance with a petition request from a property owner representing greater than 50 percent of the property within the requested district.
RECOMMENDATION:
City Administration recommends approving Resolution No. 2017-028
POSSIBLE COUNCIL ACTION:
1. Conduct a public hearing and motion to approve Resolution No. 2017-028, creating the Mercer Crossing Public Improvement District, as presented.
2. Conduct a public hearing and motion to approve Resolution No. 2017-028, with the following modifications.
3. I move to table the issue for further study or take no action.
ATTACHMENTS:
1. Resolution No. 2017-028