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Developer outlines two-option Stromberg PID, projects millions in assessments and community benefit fees
Summary
Developers and financial advisors presented two PID scenarios for the Stromberg project: a mixed industrial/residential option projected to yield about $6.9M in community benefit fees and an alternative fully residential option with lower projected revenue. Council asked for follow-up analyses on incentives and potential TIRZ/TIF-style rebates.
Developer representatives and the city’s financial advisor presented the proposed Stromberg Public Improvement District and two concept options. Christian Villarreal of DPFG summarized the buildout projections and told council, “we are projecting about 6,900,000 in community benefit fee to the city of Hutto,” while noting the industrial option depends on market demand and possible incentive structures for nonresidential users.
Hilltop Securities and the civil engineer described the public improvements (new arterial, roundabout, water/wastewater, detention) and estimated assessed values and bond issuance capacity; the financial advisor explained one scenario would support up to $100 million of bonds and that the developer had also proposed a 50% rebate on ad valorem taxes from the nonresidential portion as an economic incentive (a component councilmembers said should be vetted by EDC/EDC policy before any agreement).
