On February 25, 2003, the Mayor and City Council adopted Resolution No. 2925 establishing the Stockyards Public Improvement District (PID).State law requires an annual report on the proposed budget and Five-Year Service Plan for the PID, which is attached. The general nature of the improvements and/or services to be provided in the Stockyards PID include:
- A Maintenance Program consisting of supplemental street sweeping, sidewalk sweeping, sidewalk cleaning, and trash receptacle pick up;
- A Marketing Program consisting of advertising, web-site design and development, marketing public events, and management of a signage program; and
- A Management Program to provide for administration, management, and operation of the PID.
On February 13, 2018, the City Council adopted a Revised Policy for Operating Public Improvement Districts (Resolution 4905-02-2018), which sets forth the City's administrative fee structure for all PIDs. The City's administrative fee is set at the greater of: (1) two percent (2%) of the projected externally generated revenue for that year, to include special assessments and any City contributions; or (2) $2,000.00.
The proposed 2018 assessment rate on property subject to assessment in the PID is $0.12 per each $100.00 of valuation. The proposed 2018 Assessment Roll for the Stockyards PID will be filed with the City Secretary and available for public inspection during normal business hours at any time prior to the August 21, 2018 Public Benefit Hearing.
The Stockyards PID is located in COUNCIL DISTRICT 2.
This M&C does not request approval of a contract with a business entity.