NOTICE OF PUBLIC HEARING
Regarding the Creation of a Public Improvement District
Pursuant to Section 372.009(c) and (d) of the Texas Local Government Code, as amended (the “Act”), notice is hereby given that the City Council of the City of Cedar Hill, Texas (“City”), will hold a public hearing to accept public comments and discuss the petition (the “Petition”) filed by the person identified in the Petition (the “Petitioner”), requesting that the City create the Balcones Ranch Public Improvement District (the “District”).
Time and Place of the Hearing. Notice is hereby given that the City Council of the City of Cedar Hill will hold a Public Hearing in the T.W. “Turk” Cannady – Cedar Hill Room located at the Government Center, 285 Uptown Blvd, Bldg. 100, Cedar Hill, TX 75104, on Tuesday, August 27, 2024 at 7:00pm, to receive public comment regarding the creation of a Public Improvement District (PID) the Balcones Ranch Public Improvement District (the “District”).
General Nature of the Proposed Authorized Improvements. The general nature of the proposed public improvement projects to be provided by the District, in phases, include: (1) landscaping; (2) erection of fountains, distinctive lighting, and signs; (3) acquiring, constructing, improving, widening, narrowing, closing, or rerouting of sidewalks or of streets, any other roadways, or their rights-of-way, including related landscaping, lighting, traffic control devices, screening walls and retaining walls; (4) construction or improvement of pedestrian malls; (5) acquisition and installation of pieces of art; (6) acquisition, construction or improvement of off-street parking facilities; (7) acquisition, construction, or improvement of water, wastewater, or drainage facilities or improvements; (8) the establishment or improvement of parks; (9) projects similar to those listed in (1)-(8), above; (10) acquisition, by purchase or otherwise, of real property in connection with an authorized improvements; (11) special supplemental services for improvement and promotion of the District, including services relating to advertising, promotion, health and sanitation, water and wastewater, roadways, public safety, security, business recruitment, development, recreation, and cultural enhancement; (12) acquisition of contract rights in connection with an authorized improvement (items (1) through (12), collectively, the “Public Projects”); and (13) the payment of expenses incurred in the establishment, administration, and operation of the District costs of bond issuance, legal and financial fees, letter of credit fees and expenses, capitalization of bond interest, the creation of a bond reserve fund, funding debt service, and capitalized interest reserves and credit enhancement fees of any bonds issued by or on behalf of the District, if necessary (the “Administrative Expenses”) (together with the Public Projects, the “Authorized Improvements”). These Authorized Improvements shall promote the interests of the City and confer a special benefit on the Property.
Estimated Cost of the Authorized Improvements. The Petitioner estimates that the current total estimated cost of the Authorized Improvements is $50,000,000.
Proposed District Boundaries. The District is proposed to include property owned by the Petitioner, consisting of approximately 400.001 acres of property generally located within the corporate limits of the City, generally located south of Lake Ridge Parkway, west of Highway 67, north of Tayman Road, Griffing Avenue, and Ellis Road and east of Prairie View Boulevard, and as more particularly described by a metes and bounds description available in the City Secretary’s Office located in the Government Center and available for public inspection.
Proposed Method of Assessment. The City shall levy assessments on each parcel within the District in a manner that results in imposing equal shares of the cost on property similarly benefitted. Each assessment may be paid in full at any time (including accrued and unpaid interest), and certain assessments may be paid in annual installments (including interest and debt). If an assessment is allowed to be paid in installments, then the installments must be paid in amounts necessary to meet annual costs for those Authorized Improvements financed by the assessments and must continue for a period necessary to retire the indebtedness issued to finance or refinance those Authorized Improvements (including interest). After creation of the District, a service and assessment plan will be prepared showing the special benefits accruing to property within the District and how the costs of the Authorized Improvements are assessed against the property on the basis of special benefit received by the property from the same.
Proposed Apportionment of Cost between the District and the City. The City will not be obligated to provide any funds to finance the Authorized Improvements, other than from assessments levied on property within the District. No municipal property in the District shall be assessed. The Petitioner may also pay certain costs of the improvements benefitting the District from other funds available to it as the developer of the District.
During the public hearing, any interested person may speak for or against the establishment of the District and the advisability of the Authorized Improvements to be made for the benefit of the property within the District.
Belinda Berg
City Secretary
