Public Improvement District. TBD Additional mill levies for regional improvements such as I70 interchange, Schools, 1st Creek Bridges, Rec Center, etc. will be required Objective is for Phase 2 total mill levies not to exceed Phase 1 total mill levies Building Permit TBD AND WHEN RECORDED MAIL TO:
Public Improvement District. A Public Improvement District is a public financing vehicle (Chapter 372 of the Texas Local Code) that can be used to finance the cost of public infrastructure related to his project. Under a Public Improvement District: • A Public Improvement District is formed over property that will benefit from public improvement projects to be constructed • Assessments are levied in a manner that apportions costs according to the benefits received from the public improvements • Bonds are issued to fund the improvements. Bond proceeds are deposited to a construction fund • As eligible projects are completed, the proceeds in the construction fund are used to acquire facilities from the developer • Assessments are paid by the property owners (usually over a period of years, although assessments may be prepaid in full or in part at any time). Assessments transfer along with title to the property. Therefore, end users typically pay the bulk of assessments. This is fitting, as the public improvements benefit the end users’ property. A Neighborhood Empowerment Zone is a tool for cities that would promote at least one of the following: (1) the creation of affordable housing, including manufactured housing, in the zone; (2) an increase in economic development in the zone;
Public Improvement District. TBD Additional mill levies for regional improvements such as I70 interchange, Schools, 1st Creek Bridges, Rec Center, etc. will be required Objective is for Phase 2 total mill levies not to exceed Phase 1 total mill levies Building Permit TBD RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: Xxxxx & Xxxxxxx, P.C. 0000 Xxxxx Xxxxxx, Suite 1710 Denver, Colorado 80202 Attn: Xxxxxx X. Xxxxx THIS DESIGNATION OF BUILDER (this "Designation") is made and entered into this ____ day of ________ 20__ (the "Effective Date"), by and between PCY HOLDINGS, LLC, a Colorado limited liability company ("Developer"), whose address is 34501 E. Quincy Ave, Xxxx. 00, Xxx 00, Xxxxxxx, XX 00000, and MERITAGE HOMES OF COLORADO, INC., an Arizona corporation ("Meritage"), whose legal address is 0000 Xxxx Xxxxxxxx, Xxxxx 000, Xxxxxxxxxx, Xxxxxxx 00000.
Public Improvement District. Creation. The PID was created by Resolution No. 2019-01-14-R-01 adopted by the City on January 14, 2019.
Public Improvement District. In connection with the above referenced payment, the Developer represents and warrants to the City as follows:
1. The undersigned is a duly authorized officer of the Developer, is qualified to execute this Certificate for Payment Form on behalf of the Developer, and is knowledgeable as to the matters set forth herein.
2. The itemized payment requested for the below referenced Public Improvements has not been the subject of any prior payment request submitted for the same work to the City or, if previously requested, no disbursement was made with respect thereto.
3. The itemized amounts listed for the Public Improvements below is a true and accurate representation of the Public Improvements associated with the creation, acquisition, or construction of said Public Improvements and such costs (i) are in compliance with the Development Agreement, and (ii) are consistent with and within the cost identified for such Public Improvements as set forth in the Service and Assessment Plan.
4. The Developer is in compliance with the terms and provisions of the Development Agreement, the Indenture, and the Service and Assessment Plan.
5. The Developer has timely paid all ad valorem taxes and Annual Installments of Public Assessments it owes or an entity the Developer controls owes, located in the Austin Colony (PID No. 3) Public Improvement District and has no outstanding delinquencies for such Public Assessments.
6. All conditions set forth in the Indenture and the Development Agreement for the payment hereby requested have been satisfied.
7. The work with respect to Public Improvements referenced below has been completed, and the City has inspected and accepted such Public Improvements.
8. The Developer agrees to cooperate with the City in conducting its review of the requested payment, and agrees to provide additional information and documentation as is reasonably necessary for the City to complete said review. Attached hereto are receipts, purchase orders, change orders, and similar instruments which support and validate the above requested payments. Also attached hereto are “bills paid” affidavits and supporting documentation in the standard form for City construction projects. Pursuant to the Development Agreement, after receiving this payment request, the City has inspected the Public Improvements and confirmed that said work has been completed in accordance with approved plans and all applicable governmental laws, rules, and regulations and has accepted such Pub...
Public Improvement District. If the Property is in a public improvement district, Section 5.014 of the Texas Property Code requires Seller to deliver and the Buyer to sign the required statutory notice.
Public Improvement District. A Public Improvement District is a public financing vehicle (Chapter 372 of the Texas Local Code) that can be used to finance the cost of public infrastructure related to his project. Under a Public Improvement District: • A Public Improvement District is formed over property that will benefit from public improvement projects to be constructed • Assessments are levied in a manner that apportions costs according to the benefits received from the public improvements • Bonds are issued to fund the improvements. Bond proceeds are deposited to a construction fund • As eligible projects are completed, the proceeds in the construction fund are used to acquire facilities from the developer • Assessments are paid by the property owners (usually over a period of years, although assessments may be prepaid in full or in part at any time). Assessments transfer along with title to the property. Therefore, end users typically pay the bulk of assessments. This is fitting, as the public improvements benefit the end users’ property. A Neighborhood Empowerment Zone is a tool for cities that would promote at least one of the following: (1) the creation of affordable housing, including manufactured housing, in the zone; (2) an increase in economic development in the zone; (3) an increase in the quality of social services, education, or public safety provided to residents in the zone; or (4) the rehabilitation of affordable housing in the zone. Tax Code § 378.002. A city may offer the following incentives within a neighborhood empowerment zone: (1) waive building, inspection, or impact fees; (2) enter into sales tax rebate agreements lasting up to ten years; (3) enter into property tax abatement agreements lasting up to ten years; and (4) set baseline performance standards to encourage alternative building materials that address environmental or energy consumption concerns. Tax Code § 378.004.
Public Improvement District. (A) The Parties acknowledge and anticipate that the Developer will submit a petition for the formation of a Public Improvement District to the City. The City shall use its best efforts to initiate and approve all necessary documents and ordinances required to effectuate this Agreement, to consider the creation of the PID, to consider the levy the Assessments (as defined in a Service and Assessment Plan), and consider the issuance of PID Bonds. The City may approve the Service and Assessment Plan providing for the levy of the Assessments on the Property. The City and the Developer will jointly determine the PID Project Costs and prepare a Service and Assessment Plan for the PID. After the City approves the final PID Project Costs, prepares a proposed assessment roll based thereon, and files the Service and Assessment Plan and proposed assessment roll for public inspection, the City will levy special assessments against the Property. Promptly following preparation and approval of a Service and Assessment Plan acceptable the City and subject to the City Council making findings that the Authorized Improvements confer a special benefit on the Property, the City Council shall consider an Assessment Ordinance. Nothing contained in this Agreement, however, shall be construed as creating a contractual obligation that controls, waives, or supplants the City Council’s legislative discretion or functions.
(B) The City will reimburse eligible Project Costs as defined in the PID Act which are deemed substantially complete by the City for public improvement infrastructure, with funds received by the City from the initiation of a PID assessment. Such reimbursement shall be outlined in a future reimbursement agreement or financing agreement between the Parties to reflect specific reimbursement amounts. Any municipal bonds issued for the PID must comply with the City’s PID Policy and are subject to all applicable laws. The City, other than as described in the applicable PID bond ordinance, is in no way responsible for repayment of debt on such bonds. If the City issues PID bonds, the City is only responsible for payments for costs of Authorized Improvements from PID bond proceeds and/or revenues to be generated by the levy and collection of assessments within the PID.
(C) The Developer acknowledges that the City may require at that time a professional services agreement that obligates the Developer to fund the costs of the City's professionals relating to any professional s...
Public Improvement District. To the best of Seller’s knowledge and belief the Property is not in a Public Improvement District, as term is referenced in the Texas Property Code §5.014.
Public Improvement District. If the Property is in a public improvement district, Section
