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Denison council adopts service and assessment plan for Preston Harbor PID
Summary
Denison City Council unanimously adopted a service and assessment plan and assessment rolls for the Preston Harbor Public Improvement District after city consultants confirmed $22.387 million in bonds were sold to fund improvements for two improvement areas.
Denison City Council unanimously adopted an ordinance accepting and approving the service and assessment plan and assessment rolls for the Preston Harbor Public Improvement District on Aug. 6. Tom Starkey of P3 Works, the city’s PID administrator, told the council the city sold $22,387,000 worth of bonds today—“just north of $8,000,000 of improvement area number 1 and 14,377,000 for improvement area number 2.”
Starkey said the assessments levied on property inside the two improvement areas will be used to fund debt-service payments and will be billed annually to property owners. The mayor opened a public hearing, recorded no public testimony, and the council voted to adopt the ordinance; the motion, made by Councilman Redwine and seconded by Councilman Thorn, carried unanimously. The ordinance makes findings of special benefit to property in the district and establishes assessments and a lien framework under Chapter 372 of the Texas Local Government Code.
