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Council advances Highland Oaks PID assessment after public hearing; estimated $33,271 per lot
Summary
Following a public hearing and first reading, council approved the assessment ordinance for the Highland Oaks Public Improvement District; staff estimated a per-property assessment of about $33,270.59 tied to an $8.48 million water extension project, with bonds likely to run 20 years.
Lubbock City Council held a public hearing Oct. 14 and approved first reading of an ordinance creating the Highland Oaks Public Improvement District (PID) and levying an initial assessment tied to a planned water utility extension.
Business Development Director Brianna Brown summarized the assessment plan: the estimated project cost for water extension is $8,480,000 and the per-unit assessment is estimated at $33,270.59.…
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