| | | | | | | | City of Georgetown, Texas
City Council Regular Meeting
August 23, 2022 |
| | | | | | | | SUBJECT:
Second Reading of an Ordinance approving and adopting the final 2022 Annual Service Plan Update, 2022 Assessment Roll, establishing classifications for the apportionment of costs and the methods of assessing special assessments for the supplemental services and improvements to property in the Georgetown Village Public Improvement District No. 1 (GVPID), closing the hearing and levying assessments for the cost of certain supplemental services and improvements to be provided in the GVPID during FY23, fixing charges and liens against the property in the GVPID and against the owners thereof, and providing for the collection of the assessments -- Allison Snyder, Partner, P3Works, LLC – City of Georgetown’s PID Administrator |
| | | | | | | | ITEM SUMMARY:
The City Council authorized the creation of the Georgetown Village Public Improvement District (GVPID) in 1999 via Resolution No. 990223-N and amended via Resolution Numbers 050801-AA-1, 032602-R, 040803-V-2, 011309-JJ, 062612-M, and 072214-R, to fund certain supplemental services and improvements that benefit the land within the approximate 391.83-acre district (Exhibit “A”). These improvements include pocket parks, landscape areas, signage, distinctive lighting, sidewalks and trails, alleyways, recreational facilities and other hardscape improvements, water quality facilities, and street trees. Additionally, it includes those services necessary for the administration and operation of the district, including those of the City and the annual collection of assessments.
On July 26, 2022, the City Council set August 9, 2022, as the public hearing date for the levy of assessment. The proposed total estimated supplemental services and improvements to be provided for the District for FY2023 is approximately $678,830. The cost to provide and maintain these services will be funded through an assessment of $0.12 per $100 valuation, in addition to dollars from the Replacement and Repair Reserve cash on hand. The average property value based on the 2022 Williamson County Appraisal District is approximately $384,878; therefore, homeowners pay on average around $462 this year. Property owners in the GVPID pay this assessment at the same time as they pay the City of Georgetown property tax.
The final 2022 Annual Service Plan Update (“SAP Update”), which includes the 2022 Assessment Roll, method of assessment and levy of assessment is attached as Exhibit “B”. The proposed SAP Update are feasible and sound and will serve the needs and desires of the property owners. |
| | | | | | | | FINANCIAL IMPACT:
The proposed total estimated supplemental services and improvements to be provided for the District for FY2023 is approximately $678,830. The cost to provide and maintain these services will be funded through an assessment of $0.12 per $100 valuation, in addition to dollars from the Replacement and Repair Reserve cash on hand. The average property value based on the 2022 Williamson County Appraisal District is approximately $384,878; therefore, homeowners pay on average around $462 this year. Property owners in the GVPID pay this assessment at the same time as they pay the City of Georgetown property tax. |
| | | | | | | | SUBMITTED BY:
Cindy Medrano, Board Liaison |
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