15. • Planning & BudgetTravis County (Travis County)

Consider and take appropriate action regarding a resolution approving and authorizing the Turner’s Crossing PID Community Benefit Fee Escrow Agreement relating to an assessment levy request for Improvement Area #4. (Commissioner Gómez)

Presented in: Travis County Commissioners Court Voting Session on 2026-04-21

Staff Report & Agenda Item Details

On November 13, 2018, 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 “Turner’s Crossing Public Improvement District” (the “District”) pursuant to a resolution adopted by the Commissioners Court (the “Authorization Resolution”). The Travis County Development Authority is a local government corporation incorporated under Subchapter D of Chapter 431, Texas Transportation Code, as amended (the “LGC Act”), and Chapter 394, Texas Local Government Code, as amended, created by the Commissioners Court. Article IV of the articles of incorporation of the TCDA, as amended, (“Article IV”) authorizes the TCDA to act pursuant to and to aid, assist, and act on behalf of the County in accordance with all applicable laws and amendments thereto, including the authority to manage defined areas such as public improvement districts created under the PID Act, including the District, and to issue bonds to accomplish such purposes. Article IV further provides that the TCDA shall not issue bonds without the consent of the Commissioners Court. Travis County (the “County”) and TCDA entered into a Contract for Management and Administrative Services dated April 24, 2018, pursuant to which TCDA agreed to provide management and administrative services for public improvement districts created by the Commissioners Court, including the District. On May 25, 2021, the County, the TCDA, and Meritage Homes of Texas, LLC, an Arizona limited liability company, (“Meritage” or the “Managing Developer”) entered into the “Turner’s Crossing 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. The County’s PID Policy requires that developers pay a PID community benefit fee if a PID does not provide on-site affordable housing. On February 27, 2026, the County received from Meritage an Improvement Area #4 Assessment Levy and Bond Issuance Request (the “Request”). A copy of the Request (including a PID analysis provided therein) is attached. Meritage requests a projected assessment amount of $6,514,000.00. For each assessment levy request, section 2.02 of the Financing Agreement requires that Meritage enter into a PID Community Benefit Fee Escrow Agreement (the “CBF Escrow Agreement”) and deposit a portion of the PID community benefit fee into escrow before County and TCDA staff will further process the Improvement Area #4 assessment levy request. Under the CBF Escrow Agreement, the Managing Developer is required