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The City of Manor City Council will hold a public hearing on the following date:
June 27, 2018 at 7:00 PM
105 East Eggleston St
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 (“Act”), notice is hereby given that the City of Manor (“City”), will hold a public hearing to accept public comments and discuss the petition (“Petition”), filed by Cottonwood Holdings, Ltd., a Texas limited partnership; Shadowglen Development Corporation, a Texas corporation; and Las Entradas Development Corporation, a Texas corporation (collectively, the “Developer”), requesting that the City create a public improvement district (“District”) to include property owned by the Developer.
Time and Place of the Hearing. The public hearing will be held at a special called meeting of the City Council beginning at 7:00 p.m. on June 27, 2018, in the Manor City Hall located at 105 E. Eggleston St., Manor, Texas, 78653.
General Nature of the Proposed Public Improvements. The purposes of the District include the design, acquisition, construction, and improvement of public improvement projects authorized by the Act that are necessary for the development of the Property, which public improvements (“Public Improvements”) will generally include (i) acquisition, construction, and improvement of streets, roadways, rights-of-way, and related facilities; (ii) the establishment of parks and open space, together with the design, construction, and maintenance of any ancillary structures, features or amenities such as trails, public art, pavilions, community facilities, irrigation, multiuse paths, lighting, benches, swimming pools, other recreational facilities, trash receptacles, and any similar items; (iii) landscaping improvements; (iv) acquisition, construction, and improvement of water, wastewater, and drainage facilities; (v) construction of entry monumentation and features; (vi) projects similar to those listed in subsections (i) – (v) above; and (vii) payment of costs associated with constructing and financing the public improvements listed in subparagraphs (i) – (vi) above, including costs establishing, administering, and operating the District.
Estimated Cost of the Public Improvements. The estimated total cost for the Public Improvements is $40,000,000.00. The City will determine what amount or portion of the costs will be paid by assessment of the property owners within the District.
Proposed District Boundaries. The District is proposed to include the approximately 319 acres located in the City of Manor, generally located in north and south of U.S. Highway 290 East, east and west of Gregg Manor Road, and east and west of Lexington Street, as more particularly described by a map, and metes and bounds, available at the Manor City Hall, Office of the Secretary, and available for public inspection.
Proposed Method of Assessment. The City will levy assessments on each parcel within the District in a manner that results in imposing equal shares of the costs on property similarly benefited. All assessments may be paid in full at any time (including interest and debt), 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 Public Improvements financed by the assessment, and must continue for a period necessary to retire any indebtedness on those Public Improvements (including interest), or the period approved by the City for the payment of the installments.
Proposed Apportionment of Cost between the District and the City. Approval and creation of the District will not obligate the City to provide any funds to finance the Public Improvements. All of the costs of the Public Improvements will be paid from assessments levied on the property within the District and from other funds available to the Developer.
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