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Pittsburg commission approves 10-year extension for Silverback Landing RHID; ordinance delayed until developer transfer
Summary
The Pittsburg City Commission on Aug. 12 approved Ordinance No. 1111 to amend the Silverback Landing reinvestment housing incentive district (RHID), adding 10 years; the ordinance’s effect will be delayed until the assignment from the current to successor developer is signed.
The Pittsburg City Commission voted 4–1 on Aug. 12 to approve Ordinance No. 1111, amending the Silverback Landing reinvestment housing incentive district to extend its term by 10 years and to allow a successor developer to assume the project.
At a public hearing, Garth Herman, bond counsel with Gilmore and Bell, explained the statutory process for a RHID substantial change and told commissioners the ordinance’s effective date will be delayed until the assignment document between the existing developer and the proposed successor developer is executed. "It is anticipated that the city commission would consider the adoption of the…
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