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Friendswood Council approves preliminary PID plan and schedules public hearing for Friendswood City Center; bond timing discussed
Summary
Council advanced a preliminary service and assessment plan for the Friendswood City Center Public Improvement District, discussed bond issuance (staff referenced figures in the tens of millions) and set a public hearing on assessments for Nov. 4, 2024.
City staff presented a preliminary service and assessment plan for the Friendswood City Center Public Improvement District (PID) on Oct. 7 and the council approved moving the plan forward and setting a public hearing on levy of assessments.
Staff summarized the PID's purpose, how it differs from the Tax Increment Reinvestment Zone (TIRZ), and what categories of work the PID may pay for under state law. Rod (staff) explained the plan covers initial public improvements such as…
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