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taxpayers charged with the assessments are those owning property within the district. The city is not liable for bond repayment, but would be obligated to foreclose on properties whose owners fail to pay their assessments. Before you tonight is a resolution accepting the petition, setting a public hearing to take public comments as to the advisability of creating the new PID, and directing the City Clerk to publish notice of the public hearing. This is not an item to consider the actual creation of the PID. That will come after the public hearing, if there is to be one, which the resolution sets for April 13". Council has the following options: Approve the attached resolution. This action will simply accept the petition, set the public hearing, and direct the City Clerk to publish notice of same. It will not obligate Council to actually create the PID. Should Council approve the resolution, staff will work with the developer on a Professional Services Agreement, requiring the developer to deposit funds in an account from which the City cari pay our PID and public finance 2. Decline to accept the petition. This would Occur in one of two ways: • If approval of the resolution fails from either want of a motion or want of a second. • If a vote to approve the motion fails to garner a majority vote of those council 0 If a motion to decline to accept the petition passes by a majority vote of those council members in attendance. In determining how you wish to proceed, you may want to consider issues such as how you, as a governing body, wish to guide development, including the highest and best use of the land; possible impacts the creation of a new PID, at this particular time, might have on the City's plans for the major thoroughfare north of the Forestbrook subdivision property; and the possible loss of the BelleVue Estates subdivision—and future property taxes generated by it—within the city limits of Paris. Passing on this subdivision at this time will in no way preclude Council from entertaining a PID petition on this property at a later date should the owner/developer still be interested. rwffyl #P � \, � RECOMMENDATION: Consider and possibly act on the attached resolution