Hutto City Council has extended a public hearing for a proposed assessment tied to Improvement Area No. 2 of the Prairie Winds Public Improvement District for a second time.
The public hearing—which is helping officials develop a plan to fund the infrastructure needed for the next phase of development—will continue during the next regular Hutto City Council meeting April 16, according to city documents.
What we know
Improvement Area No. 2 spans approximately 62 acres and is planned for 192 single-family homes. It would fund certain public improvement projects—such as roads, sidewalks, water and wastewater lines and drainage infrastructure—through operations and maintenance assessments on property owners, according to the city’s amended and restated service and assessment plan.
Delayed action comes in the wake of city officials citing reports that some buyers and Realtors are struggling to obtain documents that clearly explain what PID assessments are and the available payoff options for homeowners.
“That was really concerning to me,” Hutto City Council member Peter Gordon said during a Feb. 5 meeting. “When we developed this PID financing agreement, we made it clear we wanted to be ultra-transparent with homebuyers because they are paying the equivalent of a tax rate [three times higher.]”
Zooming in
Assessment payments are expected to vary between the 45-, 50- and 60-foot lots and range from about $29,000 to $42,000 per home—costs that would be repaid over an extended period and would be in addition to standard property taxes. It is a framework designed to mirror the existing model for Improvement Area No. 1, according to the plan.
The projected estimated cost of authorized improvements as part of Improvement Area No. 2 is $10.9 million, while projected total assessments is nearly $7 million, according to city documents.
The outlook
The extended public hearing on levying assessments for Improvement Area No. 2 is scheduled for April 16.
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