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Council approves Park 79 PID billing, reimbursement and developer deposit agreements
Summary
Council approved an agreement for Williamson County to handle billing and collection for the Park 79 Public Improvement District and two developer agreements: an acquisition/reimbursement agreement capped at $5 million and a $50,000 developer deposit to cover city costs until assessments are levied.
Taylor City Council approved multiple items Dec. 11 related to the Park 79 Commerce Public Improvement District (PID), which will fund infrastructure for a roughly 69‑acre development near Highway 79 and County Road 401.
Staff recommended and council approved an agreement with Williamson County for billing and collection of PID assessments so the county tax office can include the assessment on property tax bills. Mr. Powers told council that using the county reduces the city's administrative burden and flows smoothly for other local jurisdictions that use the county for such services.
Council also approved two developer agreements: an acquisition and reimbursement agreement that caps developer reimbursement at $5,000,000 (with a maximum PID bond issuance discussed at about $6,250,000) and a developer deposit agreement requiring a $50,000 deposit from the developer to cover city costs (legal, staff time, etc.) until assessments are levied. Mr. Powers said the deposit will be refunded if unused or replenished if expenses exceed the deposit.
Officials emphasized the structure limits city liability: reimbursement obligations are secured to assessments on PID properties and the city is not liable for shortfalls outside the PID. Council voted to approve the agreements in a single motion.
Why it matters: The agreements set the financial and administrative framework for building and funding public improvements in the Park 79 development and specify limits on city exposure while enabling infrastructure work to proceed.
What’s next: Staff and the PID administrator (P3 Works) will prepare the service and assessment plan, bring it back to council for approval, and coordinate bond issuance and assessment schedules with the county tax office.
