R-2007-01 Lakes at Fairmont Greens/method of assessment and apportionmentof cost between district and the city as a whole

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REQUEST FOR CITY COUNCIL AGENDA ITEM Agenda Date Requested: Ja Appropriation Requested By: Source of Funds: Department: Account Number: Report: Resolution: X Ordinance: Amount Budgeted: Exhibits: Resolution-Findings in Connection wi Lakes at Fairmont Greens PID Amount Requested: Budgeted Item: YES NO Exhibits: Resolution-Authorizing the Establishment of Lakes at Fairmont Greens PID Exhibits: Petition for the Creation of the I,akes @ Fairmont Green PID Exhibits: Memorandum for Rel'ord wi Attal'hments Exhibits: Fairmont Greens Rel'reation Trail SUMMARY & RECOMMENDATION In October 2004 Mr, Fogarty (through David Hawes, TIRZ/Redevelopment Authority Consultant) requested consideration of a PID (public Improvement District) to assist him in recouping some expenses that the Authority's reimbursement will not cover. In a December 13, 2004 City Council Workshop, David Hawes discussed the petition for this creation. PID's are allowable per the adopted TIRZ Guidelines and Tri-Party Agreement. In fact, a PID may be a successful way to also address future maintenance issues for the detention basins, perimeter fencing, landscaping, etc. Staff has been in discussions with Mr. Fogarty regarding these items. The collection of a PID assessment levied by the City would be easier and preferable than relying on a Homeowners' Association to undertake this kind of maintenance activity, The proposed PID assessment will have 2 components. One component is for capital costs reimbursement, which last for 15 years. The second component is for supplemental services (maintenance items listed above), is perpetual. PID #1 was approved on June 12,2006, but as reported to Council in December there were mistakes that require correction. This PID creation takes care of/over rides the earlier one by making the property contiguous and adding the Taylor Bayou area between SH146 and McCabe Road, Pending Council approval, dedication documents will be executed accepting responsibility for a portion of Taylor Bayou from HCFCD and allocating maintenance responsibilities to the Public Improvement District for the Lakes at Fairmont Greens Subdivision. A representative from Hawes, Hill, Calderon, LLP (consultant) will be available at the Public Hearing for additional information or to answer any questions. Action Required bv Council: Consider approval ofResolution:/Wrokaking findings in connection with the Proposed Public Improvement District Number One and Resolution~Ol)ll'02iithorizing the establishment of Public Improvement District Number One in the City of La Porte, jJio'l ate