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Rockwall to Hold Public Hearing on Public Improvement District

by Front Porch Rockwall

 

 

The City of Rockwall will be holding a public hearing on April 15, 2019 to consider a request by a developer for a Public Improvement District (PID). The developer-initiated petition is in conjunction with a zoning case (i.e. Z2019-005: Heritage Park) that is proposing to establish a 545-lot residential subdivision and a 55.00-acre public park. Information contained in previous social media posts include numerous factual errors.
A PID is a geographic district that is established to provide specific types of improvements and/or maintenance, which are financed through assessments against the properties within the district. PIDs do not have an effect on any other property in the City, and do not increase the current or future tax rate of any properties. PIDs do not increase taxes paid for properties within the district. The property being considered for the PID is currently vacant land, and if the PID is approved, the assessments will only be levied against future development in the area. This means that regardless of the success of the PID, neither the City nor the City’s taxpayers will be responsible for any of the costs associated with the PID.
In order to create a PID, it would be necessary that the Council authorize its creation, even though the repayment of the debt issued by the PID does not oblige the City or its taxpayers to repay the debt—even in the event of default. To date, the Council has taken no action to authorize the creation of the developer proposed PID. The public hearing scheduled for Monday night will be the first opportunity for the Council to consider the details of the developer’s proposal. For questions concerning the proposed PID or the associated zoning case, please contact the Planning Department at (972) 771-7745 or email planning@rockwall.com

 

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