16. • Planning & BudgetTravis County (Travis County)

Consider and take appropriate action on the following items for the Lagos Reserve Public Improvement District (District):

Presented in: Travis County Commissioners Court Voting Session on 2026-07-28

Staff Report & Agenda Item Details

On March 31, 2026, 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 Lagos Reserve Public Improvement District (the “District”) through a resolution adopted by the Commissioners Court. The Travis County Development Authority (the “TCDA”) is a local government corporation incorporated under Subchapter D of Chapter 431, Texas Transportation Code, as amended, 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 a public improvement district (“PID”) created under the Act. The County and the TCDA entered into a Contract for Management and Administrative Services dated April 24, 2018, in which the TCDA agreed to provide management and administrative services for PIDs created by the Commissioners Court, including this District. On July 7, 2026, the Commissioners Court approved the “Lagos Reserve Public Improvement District Financing Agreement” (the “Financing Agreement”), by and among the County, the TCDA, and 706 Partnership, Ltd., as the “Managing Developer”, to be effective upon execution by all the Parties, including the Consenting Parties, as provided thereto. The Financing Agreement 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. On July 6, 2026, the Managing Developer submitted a revised request for the levy of assessments for Improvement Areas #1A and #1B of the District. A copy of the July 6, 2026 revised request, attached as backup, reflects an assessment levy request of approximately $16,000,000 for Improvement Area #1A, and an assessment amount of approximately $392,000 for Improvement Area #1B. The Order Levying Assessments Before assessments may be levied, the County’s PID Policy (effective prior to February 1, 2024, and as applicable here) requires that developers provide on-site affordable housing or pay a PID community benefit fee. In lieu of the Community Benefit Fee, the Managing Developer will donate a 25-acre parcel (the “Community Benefit Site”), to the County. As detailed in the Financing Agreement, following the initial levy of assessments, the Managing Developer agrees to convey to the County the Community Benefit Site, at no cost to the County, free of all liens, encumbrances, and title defects that are unacceptabl