Title
Consider/Discuss and Provide Direction Regarding the Potential Creation of a Public Improvement District (PID) for the Property Commonly Referred to as the Brinkmann Ranch, Generally Located East of Lake Forest Drive, South of Bloomdale Road, West of Hardin Boulevard and North of U.S. Highway 380 (University Drive)
Summary
COUNCIL GOAL: Direction for Strategic and Economic Growth
MEETING DATE: December 4, 2017
DEPARTMENT: Development Services
CONTACT: Michael Quint, Executive Director of Development Services
RECOMMENDED CITY COUNCIL ACTION:
* Consider, discuss and provide direction regarding the potential creation of a Public Improvement District (PID) for the Brinkmann Ranch property.
ITEM SUMMARY:
* Staff is seeking direction from the City Council regarding whether or not to engage in discussions with the potential developer of the property commonly referred to as the Brinkmann Ranch regarding the creation of a Public Improvement District (PID).
* The potential developer of the Brinkmann Ranch, generally located east of Lake Forest Drive, south of Bloomdale Road, west of Hardin Boulevard, and north of U.S. Highway 380 (University Drive) has formally requested the City Council's consideration of the creation of a PID. Per the developer's request letter, the PID will be primarily used to fund the construction of public infrastructure and public trails for a primarily residential development. The aforementioned letter is attached for more information.
* The developer has requested the opportunity to present its justification for a PID via a presentation at the December 4, 2017 work session. The developer's presentation will be followed by a brief presentation from City Staff.
BACKGROUND INFORMATION:
* The City of McKinney does not currently have any PIDs within its corporate limits and has historically refrained supporting the creation of PIDs for developments consisting of mostly residential land uses.
* Public Improvement Districts are a...
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