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Developer updates council on Austin Colony; requests PID-fee changes and flags Tigner Street drainage costs
Summary
Developer Sandy Ray told council he seeks a higher administrative percentage for sections 5–9 of the Austin Colony PID and raised a roughly $240,000 drainage extension cost for Tigner Street that he said the city should address or credit via impact fees; council asked for concrete numbers before deciding.
Developer Sandy Ray updated the Angleton City Council on progress at the Austin Colony subdivision and requested changes to the development agreement that would change how public improvement district (PID) administrative fees are collected.
Ray told council he is asking that sections 1–4 of the project be assessed at the current 5% and sections 5–9 be assessed at 10% of the value once those later sections are developed. He said the developer would accept an administrative, upfront per-lot fee instead of having that percentage taken directly from bond proceeds, following advice he said was provided by bond…
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