Council approves inclusion of 14.2 acres into Ladera Business Improvement District

Timnath Town Council approved Ordinance No. 9, Series 2025, to include approximately 14.2 acres of property owned by Connell LLC into the Ladera Business Improvement District (BID).

Staff told the council the BID was organized in 2021 to finance public improvements and support commercial development; the inclusion area had been listed as a future inclusion area in the district’s operating plan. The land proposed for inclusion is zoned regional commercial and lies immediately south of Luna Vista Drive and west of Whitesell, adjacent to the existing BID boundary.

The applicant’s attorney, Nicole Paykoff, explained the inclusion is intended to simplify assessments by ensuring entire lots fall inside the BID rather than creating parcels split by the BID boundary. Staff and the applicant also said the developer intends to proceed with debt issuance this year to finance improvements; the applicant indicated an approximate financing structure of roughly $19.2 million in senior bonds and $6.0 million in subordinate bonds with proposed 30-year terms, though those figures were presented as approximate and would be finalized through separate finance processes.

Staff emphasized that the inclusion changes only the BID boundary and does not alter the operating plan, scope of services or annual budget approval process already required of the town. The council approved the ordinance 3–0.

Staff noted that inclusion will subject the newly included property to BID assessments and that the inclusion is consistent with the development plan and prior approvals.