STRATEGIC PRIORITY: Economic Development
AGENDA DATE: June 8, 2022
COUNCIL DISTRICT(S): 14
DEPARTMENT: Office of Economic Development
EXECUTIVE: Majed Al-Ghafry
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SUBJECT
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A public hearing to receive comments concerning the renewal of the Knox Street 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, to provide 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 ten years, from 2023 to 2032; (2) approval of the District's Service Plan for 2023-2032 to provide supplemental public services, to be funded by assessments on real property and real property improvements in the District; and (3) a management contract with Knox Street Improvement District Corporation, a Texas nonprofit 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 28, 2022, Knox Street Improvement District Corporation, representing owners of real property located within the District, submitted petitions to the City of Dallas requesting the renewal of the District and approval of the District's Service Plan for a new ten-year term effective January 1, 2023 to December 31, 2032, in accordance with the Public Improvement District Assessment Act, Texas Local Government Code, Chapter 372 (the Act). The Dallas City Council first authorized the creation of the District in 2010 and its renewal in 2017. This is the District's third renewal petition.
City staff reviewed the petitions and verified that owners of record representing more than 83% of the appraised value and more than 86% of the land area of real property in ...
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