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Council approves annual Service and Assessment Plan updates for PID assessments, staff explains calculation process
Summary
Council approved required annual Service and Assessment Plan updates for local Public Improvement Districts including Highlands and Waterbrook; consultant explained how assessments are calculated to meet bonded debt obligations and required notices.
The Argyle Town Council approved annual updates to Service and Assessment Plans (SAPs) for the town's public improvement districts, including the Highlands and Waterbrook developments, and staff explained how the assessments are calculated to cover bond payments and collection costs.
Why it matters: SAP updates are required by statute to identify indebtedness and set annual assessment rates so Denton County can place them on property tax bills. Council asked staff and outside consultant for clearer cover documentation after receiving lengthy…
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