Posting Language
Title
Set a public hearing to consider a resolution to reauthorize the East Sixth Street Public Improvement District. (Suggested date: August 29, 2024, at Austin City Hall, 301 W. 2nd Street, Austin, Texas).
De
Lead Department
Economic Development.
Fiscal Note
There is no fiscal impact.
Prior Council Action:
August 7, 2014 - Council approved Resolution No. 20140807-174, authorizing the East Sixth Street Public Improvement District (PID).
August 8, 2019 - Council approved Resolution No. 20190808-094, reauthorizing the PID.
June 1, 2023 - Council approved Ordinance No. 20230601-008, setting the assessment rate and approving the proposed 2024 assessment roll for the PID.
August 31, 2023 - Council approved Resolution No. 20230831-014, adopting the PID Service and Assessment Plan and Budget update for 2024.
For More Information:
Sylnovia Holt-Rabb, Director, Economic Development Department, 512-974-3131; Kimberly Oliveras, Deputy Chief Financial Officer, 512-974-2924; Donald Jackson, Economic Development Department, 512-974-2214.
Additional Backup Information:
This action would set the public hearing on the reauthorization of the PID, as requested by the property owners. Chapter 372 of the Texas Local Government Code requires that the governing body of the municipality hold a public hearing on the reauthorization. Upon conclusion of this hearing, the governing body is to make certain findings by resolution. Pursuant to the Council’s approval, the PID expires after five years. Reauthorization of the PID is required if the improvement district is to continue.
Prior to the public hearing, City staff will provide notification to property owners as required by Chapter 372. The signed petitions submitted represent over 50% of the appraised value of all taxable real property liable for assessment under the proposed PID reauthorization and constituted over 50% of the area of all taxable real property liable for assessments under the proposal. As certified by the City Clerk, the number of signatures is greater than the number required by Chapter 372 of the Texas Local Government Code and meets the requirements of state law for a petition requesting reauthorization of the PID.