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Developers seek PID waivers after policy change; council directs staff to use $65 admin fee and approves annual PID updates
Summary
Developers asked the council to soften recent changes to the city’s public improvement district (PID) policy. Council instructed staff to proceed with the $65-per-lot administrative fee recommendation (to apply through the life of the PID) and approved 2025 annual assessment updates for Lagos, Manor Heights and Rose Hill PIDs.
Developers and their advisors told the Manor City Council that a recent update to the city’s PID policy materially reduced gross principal available to bond issuances and asked for waivers to mitigate that change.
Presenters from DPFG and outside counsel described the effects for two projects: Lagos (where assessments had already been levied) and New Haven (where assessments had not yet been levied). Speakers said changes made in July increased the annual collection cost for major improvement areas and, as a result, reduced the gross principal available to developers by several hundred thousand dollars…
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