Council clears financing steps for Persimmon development PID; assessment roles published for public inspection

Council heard a multi‑part presentation on Persimmon Public Improvement District financing from P3 Works and bond advisers detailing the PID structure, authorized improvements and the proposed bond marketing (John Snyder, SEG 3560–3568). The documents describe roughly $133.5 million of total authorized improvements across the entire project area with an immediate financing program that markets approximately $47.8 million of bonds for major infrastructure; owner contributions of roughly $8.3 million cover some internal improvements (SEG 3660–3668). Staff and consultants walked council through the assessment roll mechanics, estimated per‑lot assessments (total assessments per lot in the initial improvement‑area range of roughly $87,000–$105,000 before TRS offset) and annual installment examples with and without TRS offsets (annual installments projected in the packet ~ $4,100–$4,900/year after TRS).

Council authorized distributing the preliminary limited offering memoranda and adopted cost-determination resolutions to make the service-and-assessment-plan and assessment roll available for inspection as required by the Texas Local Government Code (Chapter 372). Staff explained that the final pricing and bond documents will be finalized the morning of the Jan. 21 Council meeting and that final approvals (service-and-assessment plan, levy of assessments and bond pricing) are expected that evening (SEG 3620–3644, 3716–3736).