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2024-044 - Creating the Forestbook Public Improvement District No. 1 relating to the Forestbrook Housing Development Project
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2024-044 - Creating the Forestbook Public Improvement District No. 1 relating to the Forestbrook Housing Development Project
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12/20/2024 5:00:07 PM
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12/20/2024 4:58:59 PM
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CITY CLERK
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Resolution
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OMN� e �11Ur <br />SECTION 2. The (i) form and content of the Petition, (ii) form, content and timing of the notices of the <br />Creation Hearing, and (iii) conduct of the Creation Hearing are in compliance with all requirements of the <br />Act and are hereby ratified and approved. <br />SECTION 3. The Council, after considering (i) the Petition, (ii) information provided by City staff and <br />(iii) the evidence and testimony presented at the Creation Hearing, hereby finds and determines that: <br />A. The Petition was filed with the City Clerk and was signed by owners of taxable real property <br />representing more than 50 percent of the appraised value of taxable real property liable for <br />assessment under the proposal, as determined by the current appraisal roll of the appraisal district <br />in which the property is located, and by the record owners of real property liable for assessment <br />under the proposal who own taxable real property that constitutes more than 50 percent of the <br />area of all real property that is liable for assessment under the proposal,: <br />B. The proposed Authorized Improvements described in the Petition are of the nature of the public <br />improvements described in Section 372.003 of the Act and are advisable and desirable <br />improvements for the District; <br />C. The proposed Authorized Improvements will promote the interests of the City and are of the <br />nature that will confer a special benefit on all property within the District by enhancing the value <br />of such property located within the District; <br />D. The nature of the proposed improvements and estimated costs thereof are set forth and described <br />in Exhibit B attached hereto and made a part hereof for all purposes: <br />E. The boundaries of the District include all of the property that is set forth and described in <br />Exhibit A attached hereto; <br />F. The assessment of costs of the proposed Authorized Improvements will be levied on each parcel <br />of property within the District in a manner that results in imposing equal shares of the costs on <br />property similarly benefitted; <br />G. The costs of the proposed Authorized Improvements shall be paid by assessment of the property <br />within the District. The City will pay none ofthe costs of the proposed Authorized Improvements. <br />Any remaining costs of the proposed Authorized Improvements will be paid from sources other <br />than assessment of the property within the District; <br />H. The management of' the District will be by the City with the assistance of a third -party <br />administrator hired by the City and paid as part of the annual administrative cost of the District; <br />and <br />1. The District shall be managed without the creation of an advisory body. <br />SECTION 4. The District is hereby authorized, established and created as a public improvement district <br />under the Act, and the Authorized Improvements described above are authorized to be made in <br />accordance with a service and assessment plan to be approved by the Council. <br />SECTION S. The District shall be known as the Forestbrook Public Improvement District No. 1. <br />
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