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Council approves PID administration agreement with P3 Works LLC for Village subdivision
Summary
Council approved an agreement with P3 Works LLC to administer Public Improvement District fees for the Village subdivision; staff said the company will be paid from the district or developer funds and not from the city's general fund.
City staff explained the proposed Public Improvement District (PID) administration agreement with P3 Works LLC for the Village subdivision, noting a key contract provision that P3's fees would be paid from district or developer sources rather than from the city's general fund.
"The only source of the fees that P3 will be paid will be from the district, from the PID, or straight from the developer," staff said during the presentation. Council members confirmed the developer had already made the required deposit and the city opened a separate account to hold the $40,000 fee required by the agreement. A motion to accept the agreement was made and the council voted to approve the contract.
