STRATEGIC PRIORITY: Economic and Neighborhood Vitality
AGENDA DATE: May 27, 2020
COUNCIL DISTRICT(S): 14
DEPARTMENT: Office of Economic Development
EXECUTIVE: Dr. Eric A. Johnson
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SUBJECT
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A public hearing to receive comments concerning the renewal of the University Crossing Public Improvement District (the District), in accordance with Chapter 372 of the Texas Local Government Code (the "Act"), for the specified area of the District, for the purpose of providing supplemental public services, to be funded by assessments on real property and real property improvements in the District; and, at the close of the public hearing authorize: (1) approval of a resolution renewing the District for a period of seven-years, from 2021-2027; (2) approval of the District's Service Plan for 2021-2027 for the purpose of providing supplemental public services, to be funded by assessments on real property and real property improvements in the District; and (3) a management contract with UCPID, Inc. d/b/a University Crossing Public Improvement District Corporation, a Texas non-profit corporation as the management entity for the District - Financing: This action has no cost consideration to the City (see Fiscal Information)
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BACKGROUND
On February 6, 2020, UCPID, Inc. d/b/a University Crossing Public Improvement District Corporation, submitted petitions requesting the renewal of the District and approval of the Service Plan for a period of seven years with an effective date of January 1, 2021 in accordance with the Act. The Dallas City Council first authorized the creation of the District in 2013 for a seven-year period, from January 1, 2014 to December 31, 2020.
City staff reviewed the petitioned Service Plan, verified the signed petitions and found the renewal Service Plan to be viable and recommended approval. City staff determined that owners of record representing more than 76% of the appraised...
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