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Timnath council approves adding parcels to Ladera Business Improvement District; petitioners plan $30 million in bonds
Summary
Council unanimously approved Ordinance No. 10, Series 2026, to include properties (lots 8 and 9, to be merged) in the Ladera Business Improvement District; petitioners proposed issuing about $30 million in bonds for public improvements and the BID may legally provide security services though none are yet planned.
The Timnath Town Council on June 9 approved an ordinance to include additional property in the Ladera Business Improvement District (BID).
Director Robinson and petitioner representative Nicole Peca described the request as consistent with the town’s 2026 operating plan. The petition would merge lots 8 and 9 in the South Ladera subdivision into one lot to be included in the BID; lots 4 through 7 will be merged separately and excluded because they are anticipated to be residential.
Peca said the petitioners intend to issue roughly $30 million in bonds to fund public improvements within the BID, which would be supported by a property tax levy on district properties. Council asked whether private security could be part of the BID; Peca noted the Business Improvement District Act authorizes provision of security services, but the district has not yet decided whether to provide them.
Councilmembers said the inclusion made sense given the changed development plans for the lots and the potential revenue to finance improvements. The ordinance passed unanimously.
The hearing record showed no members of the public signed up to speak on the petition; staff noted petitioners were present and available to answer questions.
