HomeMy WebLinkAboutResolution - 2004-R0564 - Resolution Approving North Point Improvement District Assessment Plan - 11_18_2004Resolution No. 2004-RO564
November 18, 2004
Item No. 37
RESOLUTION AND ORDER
WHEREAS, the City of Lubbock in Resolution 2004-RO543 has
authorized the creation of the North Point Public Improvement District pursuant
to the Texas Public Improvement District Assessment Act; and
WHEREAS, the City desires to apportion the cost of improvements and
services to be assessed against the property in the improvement district on the
basis of special benefits accruing to the property because of the improvements or
services and to establish the methods of assessing the special benefits for various
classes of property; and
WHEREAS, the City of Lubbock desires to schedule a public hearing in
accordance with Section 372.016 of the Texas Local Government Code to
consider the proposed assessments for creating and maintaining the common
areas on North Slide Road and adjacent right of way, creating and maintaining a
green space located under a utility easement, and enhancing and maintaining
amenities in the entry stations on North Slide Road, all in accordance with the
Act; NOW, THEREFORE,
BE IT ORDERED AND RESOLVED BY THE CITY COUNCIL OF THE
CITY OF LUBBOCK:
SECTION 1: THAT the Service Plan which contains an Assessment
Plan for the North Point Public Improvement District is hereby approved by the
City Council of the City of Lubbock. Said Plan is attached as Exhibit "A" and
incorporated herein as if fully set forth; and
SECTION 2: THAT City staff is hereby directed to prepare a proposed
Assessment Roll stating the assessment against each parcel of land in the district
as determined by the Assessment Plan; to file the proposed assessment roll with
the City Secretary; and to make the proposed assessment roll available for public
inspection; and
SECTION 3: THAT a public hearing is hereby scheduled at 10:45am,
Tuesday, December 7, 2004, in the City Council Chambers, 1625 13'h Street,
Lubbock, Texas, to consider the proposed assessments and receive public
comment; and
SECTION 4: THAT notice of said hearing shall be published in a
newspaper of general circulation in the city before the tenth day before the date
of the hearing as required by state law; and
SECTION 5: THAT the notice shall contain the date, time and place of
the hearing; the general nature of the improvements and services; the cost of the
improvements and services; the boundaries of the assessment district; and a
statement that written or oral objections will be considered at the hearing; and
SECTION 6: THAT when the assessment roll is filed, the City staff is
directed to mail to the last known address of each property owner liable for
assessment (as reflected on the tax rolls) a notice of the hearing containing, at a
minimum, the information contained in the published notice.
Passed by the City Council this 18th day of November , 2004.
TOM MARTIN, MAYOR PRO TEM
ATTEST:
Rebecca Garza, City Secretary
APPR E AS CONTENT:
Rob Alli i or of Bus ess Development
APPROVED AS TO FORM:
1'in M. Knight, Assn ' CliyIxttorney
JK: ccdocs/RFS-NorthPointPID assessment hearing
November 2, 2004
Exhibit "A" Resolution No. 2004-RO564
November 18, 2004
Item No. 37
North Point PID Method of Assessment
Properties will be assessed based on the City's 2005 "net taxable value"
as established by the Lubbock Central Appraisal District and submitted to
the City under Tax Code Section 26.04.
4 Assessment rate will be $0.14/$100 valuation.
4 All property will be assessed based on the final 2005 net taxable value.
Exhibit "A"
Page 2
NORTH POINTE PID
Service Plan
Resolution No. 2004-RO564
November 18, 2004
Item No. 37
2004 2006
2006
2007
2008
2009
20JO
2011
2012
2011Totals
REVENUE
Property Values'
13,800,000 57,376.000
126,023,520
187,043,990
249,284,870
297,770,568
303.725,979
309,800,499
315,996,509
322,316,439
322,316,439
Discounted Property Values
11,040,000 45,900,800
100,818,816
149,635,192
199,427,896
238,216,454
242,980,783
247,840,399
252,797,207
257,853,151
257,853,151
Assessment @ $0.14
- -
15,456
64,261
141,146
209,489
279,199
-
-
709,552
Assessment @ $0.04
95,287
97,192
99,136
291,615
Total
15,456
64,261
141,146
209,489
279199
95,287
97192
99136
1001 167
Expense-4K'"
Slide Road - right of way & median maintenance
13,872
14,149
14,432
14,721
15,015
15,316
15,622
15,935
119,063
South of power lines, 5,75 acres Q $2,356
South of power lines (developer)
13,600
-
-
-
-
-
13,600
North of power lines, 1.50 acres @ $2,356
-
1,584
3,714
3,788
3,864
3,941
4,020
4,100
4,182
29,193
North of power lines (developer)
3,600
2,088
-
-
-
-
-
-
-
SAW
Rotation of color (3 rotations)
-
12,485
12,734
12,989
13,249
13,514
13,784
14,060
92,816
Rotation of color (developer)
12,000
12,240
-
-
-
-
-
-
-
24,240
Neighborhood Entry Stations (2)
General Maintenance (3 rotations of color)
-
-
6,242
6,367
6,495
6,624
6,757
6,892
7,030
46,408
General Maintenance (developer)
6,000
6,120
-
-
-
-
-
-
-
12,120
Hike & Bike Trails under utility easement
50 ft. wide linear track, 17.5 acres @ $2,356
-
27,671
43,138
44,001
44,881
45,779
46,694
47,628
299,791
60 ft, wide linear track (developer)
40,650
41,463
14,621
-
-
-
-
-
-
96,734
Capital Outlay
Constr. of trail, 63,360 sq. ft. ® $3.50 = $221,760
221,760
-
-
-
221,760
Reimbursment from develoW
(297.610)
(61,911)
(14,621)
-
-
-
-
-
-
(374,142)
Reimburse developer for exuses
1
60,686
127,419
186,037
374,142
Total
16,456
64,261
141,146
209,469
269,748
85,385
87,093
$8 835
961413
Cash Reserves
0
0
0
0
9,452
19,353
29,453
39,754
39 754
'Property Value growth rate = 2% annually
-Expense growth rate = 2% annually
ASSESSMENT INFORMATION
2004-2010
Assessment per $100,000 $ 140.00
2011-2013
Assessment per $100,000 $ 40.00