O-2008-3067 Service and Assessment Plan for Lakes at Fairmont Greens

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REQUEST FOR CITY COUNCIL AGENDA ITEM Agenda Date Requested: 3/1012008 Budeet Requested By: Gretchen T ,arson Source of Funds: NIA Department: City M~II~ger!EDC Account Number: Report: Resolution: Ordinance(s): X Amount Budgeted: Exhibits: Lakes of Fairmont Greens PID and Assessment Roll Documents Amount Requested: SUMMARY & RECOMMENDATION The City held a public hearing, and created the PID in accordance with the applicable provisions. The City passed and adopted Resolution No. 2007-02 on January 22, 2007 establishing the Lakes at Fairmont Green Public Improvement District. The required ordinances and paperwork necessary to approve the PID Service and Assessment Plan and the Assessment Roll for the Lakes of Fairmont Greens Subdivision, Section One are attached. The ordinances and paperwork have been reviewed and approved by the Assistant City Attorney. The PID Assessments are divided into two areas; public improvements and supplemental services. The Public Improvements include the following: '" Site Work '" Water Lines '" Sanitary Sewer 4. Storm Sewer 4. NPDESIErosion Control 4. Contingency 4. Engineering 4. PID Creation Costs 4. Financing Costs 4. Administration & Legal Expenses The supplemental services include and consist of operations and maintenance of common areas, green spaces, public landscaping, recreational facilities, certain drainage structures, and other common facilities as described in Article V of the Developer's Agreement attached as Exhibit B. Also attached is the Bi-Lateral Agreement between the City and the La Porte Redevelopment Authority for the management of the PID which was approved in June of 2007. At the time there were necessary items left intentionally blank which have now been filled in as a result of the final paperwork being completed for the PID Service Plan and Assessment Plan and Assessment Roll. D~lr;h~