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Terrell council approves preliminary plan for Arboretum Estates PID, authorizes developer reimbursement for completed water lines
Summary
Council approved a preliminary service and assessment plan for the Arboretum Estates Public Improvement District (PID) and adopted a reimbursement agreement to allow the developer to dedicate completed water lines and be reimbursed after assessments or PID bonds are issued.
The Terrell City Council on July 1 approved a preliminary service and assessment plan for the Arboretum Estates Public Improvement District (PID) and set public hearings on the proposed assessments for Aug. 5. Council also approved a related reimbursement agreement that lets the developer dedicate completed infrastructure — specifically water lines — to the city now and be reimbursed later when assessments are levied or PID bonds are issued.
Jordan Sawyer, the city’s PID administrator with P3 Works, told council the resolution before the body authorizes a formal summary of improvement costs and…
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