DEPARTMENT: Center City Development & Operations Department
DEPARTMENT HEAD: Lori Houston
COUNCIL DISTRICTS IMPACTED: 1
SUBJECT:
Public hearing and consideration of the following Ordinances related to the Downtown Public Improvement District:
A. An Ordinance approving the levy of a Special Assessment for the Downtown Public Improvement District (PID); levying an assessment rate for Fiscal Year 2016 at $0.15 per $100.00 value of real property in the PID and $0.09 per $100.00 value of residential condominiums; and approving the Fiscal Year 2016 Services and Assessment Plan for the PID.
B. An Ordinance authorizing the Second Amendment to the Interlocal Agreement with VIA Metropolitan Transit Authority increasing their contribution by $69,000.00 annually for participation in the Downtown Public Improvement District through September 30, 2023.
SUMMARY:
This public hearing is called to consider public comment in conjunction with City Council consideration of an ordinance approving the levy of a special assessment to fund supplemental services for the Downtown Public Improvement District (PID); maintaining an assessment rate at $0.15 per $100.00 value of commercial real property in the PID and $0.09 per $100.00 value of residential condominiums in the PID; approving the FY 2016 Service and Assessment Plan (the Plan) for the PID; and amending the Interlocal agreement with VIA Metropolitan Transit Authority increasing their contribution by $69,000.00 annually for a total contribution of $294,000.00 annually. The Plan includes the annual budget for the PID, provides a five-year fiscal forecast and sets the supplemental special assessment rate to fund services and improvements in the PID. This item also includes the consideration and approval of levying the assessment, rate and plan immediately following the public hearing.
BACKGROUND INFORMATION:
A public improvement district (PID) is a mechanism authorized by Chapter 372 of the L...
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