Receive comments regarding the proposed assessments on Improvement Area #2 of the Longview 71 Public Improvement District. (Commissioner Gómez)

Staff Report & Agenda Item Details

On October 29, 2019, the Commissioners Court of Travis County (the “Commissioners Court”) pursuant to and in accordance with the terms, provisions, and requirements of the Public Improvement District Assessment Act, Chapter 372, Texas Local Government Code (the “PID Act”), established the “Longview 71 Public Improvement District” (the “District”) pursuant to a resolution adopted by the Commissioners Court (the “Authorization Resolution”).<br id="isPasted"> <br>On November 14, 2023, TCDA, the County, and WLH Communities-Texas, LLC, a Delaware limited liability company (the “Managing Developer”) entered into the “Longview 71 Public Improvement District Financing Agreement”, as amended , which relates to the construction of the authorized improvements within the District (the “Authorized Improvements”), the maintenance of the Authorized Improvements, and the payment or reimbursement of the actual costs of the Authorized Improvements with proceeds of bonds or special assessment revenues.<br> <br>On June 16, 2025, Managing Developer submitted a request for the levy of assessments in the amount of $8,775,000.00 on Improvement Area #2 of the District.  On January 8, 2026, the Managing Developer submitted a supplement request (the “Supplemental Request”) specifying a desired bond amount of $9,303,000.00 and providing a bond issuance date. The Supplemental Request reflects the maximum amount of the authorized costs plus bond issuance related costs; cost of issuance underwriter’s discount, reserve fund deposit, administrative fund deposit and estimated capitalized interest. <br> <br>Before assessments may be levied, the County’s PID Policy (as it existed prior to February 1, 2024, and as applicable here, the “PID Policy”) requires that developers pay a PID community benefit fee if a PID does not provide on-site affordable housing. On August 26, 2025, the Commissioners Court and the TCDA Board of Directors each approved a community benefit fee escrow agreement for Improvement Area #2 of the District (the “CBF Escrow Agreement”). The Managing Developer has deposited an initial fee in the amount of $526,500 (which is 6% of the requested assessment amount) in the CBF Escrow account. Per the CBF Escrow Agreement, if the Commissioners Court approves the levy of assessments, as soon as three business days after the assessments are levied, a disbursal request may be submitted to release these funds to the Capital Economic Progress Corporation.<br> <br>On January 20, 2026, the Commissioners Court approved setting a public hearing date for February 10, 2026 to consider the levy of assessments for Improvement Area #2 of the District. The PID Act requires that a public hearing be held before assessments can be levied against the assessable property within the District. The proposed assessment roll for Improvement Area #2 is on file with the Travis County Tax Assessor-Collector’s Office. A notice of the public hearing was mailed to the landowner on January 22,2026, and