STRATEGIC PRIORITY: Economic Development
AGENDA DATE: April 24, 2024
COUNCIL DISTRICT(S): 10
DEPARTMENT: Office of Economic Development
EXECUTIVE: Majed Al-Ghafry
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SUBJECT
Title
Authorize (1) a public hearing to be held on May 22, 2024, to receive comments concerning the renewal of the North Lake Highlands Public Improvement District (the "District"), in accordance with Chapter 372 of the Texas Local Government Code for the specified area of the District, for the purpose of providing supplemental public services, to be funded by an assessment on real property and real property improvements in the District; and, at the close of the public hearing; (2) approval of a resolution renewing the District for a period of ten years; (3) approval of the District's Service Plan for 2025-2034 for the purpose of providing supplemental public services, to be funded by assessments on real property and real property improvements in the District; and (4) approval of a management contract with Lake Highlands 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)
Body
BACKGROUND
On February 1, 2024, Lake Highlands Improvement District Corporation (LHIDC), a Texas nonprofit 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, 2025 to December 31, 2034, in accordance with the Act.
City staff reviewed the petitions and verified that owners of record representing 77.8% of the appraised value and 67.6% of the land area of real property in the District liable for assessment had signed the petitions, thereby exceeding the minimum requirements for renewal set in the current City of Dall...
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