Consider and take appropriate action on a resolution relating to the Turner’s Crossing Public Improvement District including:
Staff Report & Agenda Item Details
On November 13, 2018, 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 Turners Crossing Public Improvement District (the “District”) through a resolution adopted by the Commissioners Court.<br><br>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.<br><br>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<br><br>On May 25, 2021, TCDA, the County, and Meritage Homes of Texas, LLC, as 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.<br><br>On August 16, 2022, the Commissioners Court passed and approved a resolution (the “Boundary Amendment Resolution”) that authorized an amendment to the boundaries of the District, which Boundary Amendment Resolution was filed in the real property records of the County.<br><br>In connection with the development of the first improvement area within the District (“Improvement Area #1”), the Commissioners Court adopted an order approving and accepting the Turner’s Crossing Public Improvement District 2022 Amended and Restated Service and Assessment Plan (the “2022 A&R SAP”), including the assessment roll for Improvement Area #1. <br><br>On September 26, 2023, in connection with the development of Improvement Area #1 Commercial Lot 98 and the second improvement area within the District (“Improvement Area #2”), the Commissioners Court approved by order the Turner’s Crossing Public Improvement District 2022 Amended and Restated Service and Assessment Plan (the “September 2023 A&R SAP”), which served as the Annual Service Plan Update for 2023 and amended and restated the 2022 A&R SAP in its entirety for the purposes of (1) calling for the levy of the Improvement Area #1 Commercial Lot 98 Assessments, (2) calling for