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HomeMy WebLinkAboutRes 2025-03-1754 Setting a Public Hearing for the Creation of The Landing PIDCERTIFICATE FOR RESOLUTION THE STATE OF TEXAS COLLIN COUNTY CITY OF ANNA We, the undersigned officers of the City of Anna, Texas (the "City"), hereby certify as follows: I . The City Council (the "Council") of the City convened in a regular meeting on March 25, 2025, at the regular designated meeting place. and the roll was called of the duly constituted officers and members of the Council, to wit: Pete Cain, Mayor Stan Carver II, Mayor Pro Tern Elden Baker, Deputy Mayor Pro-Tem Kevin Toten, Council Member Ryan Henderson, City Manager Carrie Land, City Secretary Lee Miller, Council Member Jody Bills, Council Member Kelly Patterson -Herndon, Council Member and all of said persons were present, except g J A thus constituting a quorum. Whereupon, among other business the following was transacted at said meeting: a written A RESOLUTION SETTING A PUBLIC HEARING FOR APRIL 22, 2025 UNDER SECTION 372.009 OF THE TEXAS LOCAL GOVERNMENT CODE ON THE ADVISABILITY OF THE CREATION OF A PUBLIC IMPROVEMENT DISTRICT AND IMPROVEMENTS WITHIN THE CITY OF ANNA, TEXAS, TO BE I0TOWN AS THE LANDING PUBLIC IMPROVEMENT DISTRICT AND AUTHORIZING THE ISSUANCE OF NOTICE BY THE CITY SECRETARY OF ANNA, TEXAS, REGARDING THE PUBLIC HEARING. was duly introduced for the consideration of the Council. It was then duly moved and seconded that said Resolution be passed: and, after due discussion, said motion, carrying with it the passage of said Resolution, prevailed and carried, with all members of the Council shown present above voting "Aye," except as noted below: NAYS: ABSTENTIONS: 2. A true, full, and correct copy of the aforesaid Resolution passed at the meeting described in the above and foregoing paragraph is attached to and follows this Certificate; said Resolution has been duly recorded in the Council's minutes of said meeting: the above and foregoing paragraph is a true, full, and correct excerpt from the Council's minutes of said meeting pertaining to the passage of said Resolution; the persons named in the above and foregoing paragraph are the duly chosen, qualified, and acting officers and members of the Council as indicated therein: that each of the officers and members of the Council was duly and sufficiently notified officially and personally, in advance, of the time, place, and purpose of the aforesaid meeting, and that said Resolution would be introduced and considered for passage at said meeting. and each of said officers and members consented, in advance, to the holding of said meeting for such purpose; and that said meeting was open to the public, and public notice of the time, place, and purpose of said meeting was given all as required by the Texas Government Code, Chapter 551. 3. The Council has approved and hereby approves the Resolution; and the Mayor and City Secretary hereby declare that their signing of this certificate shall constitute the signing of the attached and following copy of said Resolution for all purposes. SIGNED AND SEALED ON MARCH 25. 2025. ATTEST: c- J Pete L7ain, Mayor ham2 Carrie Land, City Secretary / THE CITY OF Anna (SEAL) 1913 Signature Page to a Certificate for A RESOLUTION SETTING A PUBLIC HEARING FOR .4PRIL 22, 2025 UNDER SECTION 372.009 OF THE TEXAS LOCAL GOVERNMENT CODE ON THE ADVISABILITY OF THE CREATION OF A PUBLIC IMPROVEMENT DISTRICT AND IMPROVEMENTS WITHIN THE CITY OF ANNA. TEXAS, TO BE KNOWN AS THE LANDING PUBLIC IMPROVEMENT DISTRICT AND AUTHORIZING THE ISSUANCE OF NOTICE BY THE CITY SECRETARY OF ANNA, TEXAS, REGARDING THE PUBLIC HEARING CITY OF ANNA, TEXAS RESOLUTION NO. ZD 2 5- 0 3- 115 y A RESOLUTION SETTING A PUBLIC HEARING FOR APRIL 22, 2025 tTNDER SECTION 372.009 OF THE TEXAS LOCAL GOVERNMENT CODE ON THE ADVISABILITY OF THE CREATION OF A PUBLIC IMPROVEMENT DISTRICT A.ND IMPROVEMENTS WITHIN THE CITY OF ANNA, TELaS, TO BE KNOWN AS THE LANDING PUBLIC IMPROVEMENT DISTRICT AND AUTHORIZING THE ISSUANCE OF NOTICE BY THE CITY SECRETARY OF ANNA, TEXAS, REGARDING THE PUBLIC HEARING. WHEREAS, the City of Anna, Texas (the "City"). is authorized under Chapter 372 of the Texas Local Government Code (the "Act"), to create a public improvement district within its corporate limits; and WHEREAS, on March 3, 2025, KL LB BUY 4 LLC, a Delaware limited liability company (the 'Petitioner"), being the owner of (1) taxable real property representing more than 50 percent of the appraised value of taxable real property liable for assessment under the proposal. as determined by the current roll of the appraisal district in which the property is located and (2) record owner of real property liable for assessment under the proposal who: (A) constitutes more than 50 percent of all record owners of property that is liable for assessment under the proposal; or (B) owns taxable real property that constitutes more than 50 percent of the area of all taxable real property that is liable for assessment under the proposal, to be included within the corporate limits of the City, submitted and filed with the City Secretary (the "City Secretary") a petition ('Petition"), attached as Exhibit A, requesting the establislunent of The Landing Public Improvement District for approximately 82.55 acres of property to be included within the corporate limits of the City (the "District"); and WHEREAS, said petition described public improvements that the property desires to be made within the District; and WHEREAS, the City Council (the "City Council") will hold a public hearing in accordance with Section 372.009 of the Act regarding the advisability of establishing the District, the nature of the improvements contemplated, the estimated costs of the improvements, the boundaries of the District, the method of assessment. and the apportioininent, if any. of the costs; and WHEREAS. it is hereby officially found and deteriined that the meeting at which this resolution was considered was open to the public, and public notice of the time, place and purpose of said meeting was given, all as required by Chapter 551, Texas Gover7ninent Code; and 3 WHEREAS, in order to hold a public hearing for the creation of a public improvement district, notice must be given in a newspaper of general circulation in the municipality before the 15'11 day before the date of the hearing, and written notice must be mailed to the current address of each owner, as reflected on the tax rolls, of property that would be subject to assessment under the proposed public improvement district, and WHEREAS, both newspaper notice and mailed notice must contain the information required for notice as provided for in Section 372.009 of the Act; and WHEREAS, the City Council has determined to hold a public hearing on April 22. 2025 on the creation of the District, and WHEREAS, the City Council finds that the passage of this Resolution is in the best interest of the citizens of the City. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ANNA, TEXAS: Section 1: All of the above recitals are hereby found to be tine and correct factual determinations of the City and are hereby approved and incorporated by reference as though fiilly set forth herein. Section 2: City Staff reviewed the Petition and determined that the same complied with the requirements of the Act and the City Council accepts the Petition. Section 3: That a public hearing is hereby called for April 22, 2025 at 6:00 in. at the Anna City Hall, Council Chambers, 120 W. 7th Street, Anna. Texas 75409 for the purpose of hearing public testimony with respect to the advisability of establishing the District, the nature of the improvements contemplated, the estimated costs of the improvements. the boundaries of the District, the method of assessment, and the apportionment. if any, of the costs. .Section 4: At such time and place the City Council will hear testimony regarding the creation of the proposed public improvement district and the City Council may, within its sole discretion, consider the adoption of a resolution authorizing the creation of the proposed District. Section 5: Attached hereto as Exhibit A is the Petition for Creation of the The Landing Public Improvement District to be included within the City of Anna, Texas, which includes a metes and bounds description for the District. Section 6: Attached hereto as Exhibit B is a form of the Notice of Public Hearing (the "Notice") the form and substance of which is hereby adopted and approved. Section 7: Included as part of Exhibit A hereto —as Exhibit "A" thereof —is a legal description of the 82.55 acres of property to be included in the proposed District. 4 Section 8: The City Secretary is hereby authorized and directed to cause said Notice to be published in substantially the form attached hereto, in a newspaper of general circulation in the City, and to mail a copy of said Notice to all landowners to be included within the boundaries of the proposed District as required by law. The City Secretary shall provide Notice on or before the 15'' day before the April 22, 2025 hearing. Section 9: If any portion of this resolution shall, for any reason. be declared invalid by any court of competent jurisdiction, such invalidity shall not affect the remaining provisions hereof and the City Council hereby detennines that it would have adopted this resolution without the invalid provision. Section 10: This resolution shall be in frill force and effect from and after its passage, and it is accordingly so resolved. PASSED AND APPROVED ON THIS 25TH DAY OF MARCH. ?025. ATTEST: APPROVED: Carrie L. Land, City Secretary t6 Cain. Mayor // 'IHECITY OF j "! fia TE EXHIBIT a Petition for Creation of The Landing Public Improvement District A-1 STATE OF TEXAS § PETITION TO ESTABLISH THE § LANDING PUBLIC IMPROVEMENT COUNTY OF COLLIN § DISTRICT TO THE HONORABLE GOVERNING BODY OF THE CITY OF ANNA: COMES NOW KL LB BUY 4 LLC, a Delaware limited liability company (the "Petitioner"), and hereby requests and petitions the City of Anna (the "City") to establish The Landing Public Improvement District (the "District") under and pursuant to the provisions of Chapter 372, Texas Local Government Code, on the hereinafter described property situated within the corporate limits of the City, and in support thereof would respectfully show the following: I. The general nature of the proposed public improvements to be provided by the District that are necessary for the development of the Property within the District and which shall promote the interests of the City and confer a special benefit upon the Property, may include: (i) street and roadway improvements, including related sidewalks, drainage, utility relocation, signalization, landscaping, lighting, signage, off-street parking and right-of-way; (ii) establishment or improvement of parks and open space, together with the design, construction of any ancillary structures, features or amenities such as trails, playgrounds, walkways, lighting and any similar items located therein; (Ili) sidewalks and landscaping, including entry monuments and features, fountains, lighting and signage; (iv) acquisition, construction, and improvement of water, wastewater and drainage improvements and facilities and facilities related thereto; (v) acquisition of real property, interests in real property, or contract rights in connection with the Authorized Improvements (as defined below): (vi) payment of costs, including, without limitation, design, engineering, permitting, legal, required payment, performance and maintenance bonds, bidding, support, construction, construction management, administrative and inspection costs, associated with developing and financing tine public improvements listed in (i) through (v) above, (vii) projects similar to those listed in subsections (i) - (v) above or authorized by the Act, including similar off -site projects that provide a benefit to the property within the District; (viii) any additional improvement projects authorized in the Act; (ix) payment of costs associated with special supplemental services for improvement and promotion of the District as approved by the City including services related to advertising, promotion, health and sanitation, water and wastewater, public safety, security, business recruitment, development, recreation, and cultural enhancement; and (x) payment of costs associated with developing and financing the public improvements listed in (i) - (ix) above, as well as the interest, costs of issuance, reserve funds, or credit enhancement of bonds issued for the purposes described in (i) through (ix) above, and costs of establishing, administering and operating the District (collectively, the "Authorized Improvements"). II. The estimated costs of constructing and acquiring all of the currently proposed Authorized Improvements, together with bond issuance costs, legal and financial fees, letter of credit fees and 1 expenses, bond credit enhancement expenses, capitalization of bond interest, the creation of bond reserve hind, expenses incurred in the establishment, administration and operation of the District and acquisition, by purchase or otherwise, of real property or contract rights in connection with each authorized improvement, is presently estimated to be a total of approximately S25.000.000, based on the estimated current and fiihue costs of the Authorized Improvements to serve the area within the District, as authorized by law. The total costs of the Authorized Improvements shall be paid from any revenues or assessments lawfully available to the City, anticipating that the costs of acquisition of the Authorized Improvements will be paid pursuant to a contractual reimbursement obligation or the issuance of bonds secured by and payable from a special assessment levied on all property within the District's boundaries for the Authorized Improvements. The boundaries of the proposed District are frilly described in Exhibit "A." attached hereto and made a part hereof for all purposes. IV. The proposed method of assessment is to impose a special assessment to be paid in installments on all useable property within the District, net of any public right-of-way, according to the value of the property, without regard to the value of improvements on the property, or in any other manner that results in imposing equal shares of the cost on property similarly benefitted. A report will be prepared showing the special benefits accruing to property within the District and how the costs of the Authorized Improvements are assessed to property on the basis of special benefit received by the property from the Authorized Improvements. V. All costs incurred by the District shall be paid by the District, and there shall be no apportiomnent of costs between the District and the City as a whole. The City will not be obligated to provide any fluids to finance the proposed improvements except from assessments generated by property within the District. VI. Management and administration of the District shall be by the City. The City may contract from time to time with a private company for District administrative services. VII. The individual executing this Petition is duly authorized to execute this Petition, and the Petitioner requests the establishment of the District. 2 VIII. An Advisory Board may be established to develop and reconunend an improvement plan to the City Council of the City of Anna (the "Council"). The Petitioner requests that if the Council establishes an Advisory Board, that such Advisory Board should include representatives of the Petitioner or their designees. IX. This Petition has been executed for and on behalf of (i) the owners of more than 50% of the taxable real property described in said Exhibit A, representing all of the appraised value of taxable real property liable for assessment under this Petition as shown by the current roll of the Collin Central Appraisal District, and (ii) the record owners of more than 50% of the real property liable for assessment under this Petition, and shall be filed with the Secretary of the City. The Petitioner owns 100% of the property to be located in the District and liable for assessment. WHEREFORE. PREMISES CONSIDERED. Petitioner prays that the Council: (1) duly consider this Petition and adopt a Resolution finding (i) that this Petition complies with all legal requirements, (ii) that the proposed Authorized Improvements are necessary, advisable and will provide a public use and benefit to the City, and (iii) that the estimated costs of the improvements, the method of assessment and the apportiomnent of costs between the District and the City of Anna are reasonable and acceptable: (2) call a public hearing, give notice thereof as required by law and hold such hearing on the advisability of the Authorized Improvements specified in this Petition: and (3) grant all matters requested in this Petition and grant such other relief, in law or in equity, to which Petitioner shall show itself to be entitled. [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] IN WITNESS WHEREOF, this Petition has been executed by the Petitioner on March 3, 2025. OWNER: KL LB BUY 4 LLC, a Delaware limited liability company By: Name: Nathan Holt Title: Authorized Signatory STATE OF ARIZONA COUNTY OF MARICOPA This instrument was acknowledged before me on March 3___, 2025 by Nathan Holt, as Authorized Signatory for KL LB BUY 4, LLC, a Delaware limited liability company on behalf of said company. — ~i* `t.._ u JULIE GILLETT Notary Public -State of Arizona Notary Public, State of Arizona ^y MARICOPA COUNTY C01 mission # 636441 =! % (SEAL) :_ Expires August 05, 2026 -- - - EXHIBIT A LEGAL DESCRIPTION OF THE TRACT Being an 82.55 acre tract of land out of the J.C. Brantley Survey, Abstract No. 114, situated in the City of Anna, Collin County, Texas, being a portion of a called 117.10 acre tract of land conveyed to 3 Monkeys, LLC by deed of record in Document Number 2023000058344 of the Official Public Records of Collin County, Texas, and being more particularly described by metes and bounds as follows: COMMENCING at a 5/8 inch iron rod with pink plastic cap stamped "TXDOT ROW' found in the West right-of-way line of State Highway 5 (right-of-way width varies), also being in the North line of Open Space #1 of Meadow Ridge Estates, Phase One, a subdivision of record in Cabinet P, Page 63 of the Plat Records of Collin County, Texas, being the Southwest comer of a called Parcel 280 - 0.7575 acre tract of land conveyed to The State of Texas by deed of record in Document Number 20190508000513540 of said Official Public Records; THENCE, S8904852"W, leaving the West right-of-way line of State Highway 5, along the South line of said 117.10 acre tract, being in part, the common North line of said Meadow Ridge Estates, Phase One, and in part, the common North line of Meadow Ridge Estates, Phase Two, a subdivision of record in Cabinet R, Page 196 of said Plat Records, a distance of 1,517.49 feet to a 1/2 inch iron rod with green plastic cap stamped "EAGLE SURVEYING" set for the POINT OF BEGINNING; THENCE, continuing along the irregular South line of said 117.10 acre tract, being in part, the common North and West lines of said Meadow Ridge Estates, Phase Two, and in part, the common North line of Shadowbend, Phase 2, a subdivision of record in Volume 2022, Page 780 of said Plat Records, the following three (3) courses and distances: 1. S89148'52"W, a distance of 23822 feet to a 3 inch metal fence post found; 2. S09°22'08"E, a distance of 816.23 feet to a 1/2 inch iron rod with yellow plastic cap stamped "FORESIGHT", found; 3. N88°37'18"W, a distance of 1,726.94 feet to a 1/2 inch iron rod with yellow plastic cap stamped "PAPE DAWSON" found in the East line of a called 58.637 acre tract of land conveyed to MCI Exchange Anacapri A Series Depositor, LLC by deed of record in Document Number 2023000111060 of said Official Public Records, also being in County Road 369, also being the Southwest comer of said 117.10 acre tract and the Northwest comer of said Shadowbend, Phase 2; THENCE, N01°29'42"E, along County Road 369 and the East line of said 58.637 acre tract, being the common West line of said 117.10 acre tract, a distance of 2,035.03 feet to a mag nail set at the intersection of County Road 369 and County Road 371, being the Northeast corner of said 58.637 acre tract and the Northwest corner of said 117.10 acre tract; THENCE, S88023'05"E, along County Road 371 and the North line of said 1 l 7.10 acre tract, a distance of 2,813.64 feet to a mag nail set at the intersection of County Road 371 and the West right-of-way line of State Highway 5, being the Northwest corner of said Parcel 280; THENCE, S22.1 P36"E, along the West right-of-way line of State Highway 5, being the common West line of said Parcel 280, a distance of 49.19 feet to a 1/2 inch iron rod with green plastic cap stamped "EAGLE SURVEYING" set; THENCE, leaving the West right-of-way line of State Highway 5, over and across said H 7.10 acre tract, the following two (2) courses and distances: 1. N88123'05"W, a distance of 1,019.64 feet to a 1/2 inch iron rod with green plastic cap stamped "EAGLE SURVEYING" set; 2. S01 °37'I1 "W, a distance of I,174.11 feet to the POINT OF BEGINNING, and containing an area of 82.55 acres (3,596,090 square feet) of land, more or less. EXHIBIT B CITY OF ANNA, TEXAS NOTICE OF PUBLIC HEARING REGARDING THE CREATION OF A PUBLIC IMPROVEMENT DISTRICT Pursuant to Section 372.009(c) and (d) of the Texas Local Government Code, as amended (the "Act"), notice is hereby given that the City Council of the City of Anna, Texas ("City"). will hold a public hearing to accept public comments and discuss the petition (the "Petition"), filed by KL LB BUY 4 LLC, a Delaware limited liability company (the "Petitioner"). requesting that the City create The Landing Public Improvement District (the "District") to include property owned by the Petitioner and huther described herein (the "Property"). Time and Place of the Hearin. The public hearing will start at 6:00 p.m. on April 22, 2025 at the Anna City Hall. Council Chambers, 120 W. 7th Street. Anna, Texas 75409. General Nature of the Proposed Authorized Improvements. The proposed public improvements may include: (i) street and roadway improvements, including related sidewalks. drainage, utility relocation, signalization, landscaping, lighting. signage, off-street parking and right-of-way; (h) establishment or improvement of parks and open space, together with the design, construction of any ancillary structures, features or amenities such as trails. playgrounds, walkways, lighting and any similar items located therein; (iii) sidewalks and landscaping. including entry monuments and features, fountains, lighting and signage; (iv) acquisition. constriction, and improvement of water, wastewater and drainage improvements and facilities and facilities related thereto; (v) acquisition of real property, interests in real property, or contract rights in connection with the Authorized Improvements (as defined below); (vi) payment of costs. including, without limitation, design, engineering, permitting, legal, required payment, performance and maintenance bonds, bidding, support. constriction, constriction management. administrative and inspection costs, associated with developing and financing the public improvements listed in (i) through (v) above; (vii) projects similar to those listed in subsections (i) - (v) above or authorized by the Act, including similar off -site projects that provide a benefit to the property within the District; (viii) any additional improvement projects authorized in the Act; (ix) payment of costs associated with special supplemental services for improvement and promotion of the District as approved by the City including services related to advertising, promotion, health and sanitation, water and wastewater. public safety, security, business recruitment, development. recreation, and cultural erfliancement; and (x) payment of costs associated with developing and financing the public improvements listed in (i) - (ix) above, as well as the interest, costs of issuance. reserve funds. or credit enhancement of bonds issued for the purposes described in (i) through (ix) above, and costs of establishing, administering and operating the District (collectively, the "Authorized Improvements"); and (b) the payment of expenses incurred in the establislment, administration. and operation of the District, including maintenance costs, costs of issuance, funding debt service and capitalized interest reserves and credit enhancement fees of any bonds issued by or on behalf of the District, if necessary. These Authorized Improvements shall promote the interests of the City and confer a special benefit upon the Property. MM Estimated Cost of the Authorized Improvements. The estimated cost to design, acquire and construct the Authorized Improvements, together with bond issuance costs, eligible legal and financial fees, eligible credit enhancement costs and eligible costs incurred in establishment. administration and operation of the District is approximately S300,000,000. Proposed District Boundaries. The District is proposed to include approximately 82.55 acres of land to be included within the city limits of the City and as more particularly described by a metes and bounds description available for public inspection at tine office of the City Secretary. 120 W. 7th Street. Anna. Texas 75409. Proposed TZethod of Assessment. The City shall levy assessments on each parcel within the District in a manner that results in imposing equal shares of the costs on property similarly benefited. All assessments may be paid in full at any time (including interest and principal). and certain assessments may be paid in annual instalhiients (including interest and principal). If an assessment is allowed to be paid in installments, then the installments must be paid in amounts necessary to meet annual costs for those Authorized Improvements financed by the assessment, and must continue for a period necessary to retire the indebtedness of those Authorized Improvements (including interest). Proposed Apportionment of Cost between the District and the City. The City will not be obligated to provide any fiinds to finance the Authorized Improvements, except for assessments levied on real property within the District. No municipal property in the District shall be assessed. All of the costs of the Authorized Improvements will be paid from assessments and from other sources of fiends, if any, available to the Petitioner. During the public hearing. any interested person may speak for or against the establishment of the District and the advisability of the improvements to be made for the benefit of the property within the District. March 27, 2025 VIA CERTIFIED MAIL Property Owner KL LB Buy 4 LLC 6900 E Camelback Road Suite 800 Scottsdale, Arizona 85251-8054 Re: Notice of Public Hearing Dear Property Owner: Please be advised that the City Council for the City of Anna, Texas has scheduled a public hearing to the creation of The Landing Public Improvement District which is located within the corporate limits of the City of Anna, Texas. The public hearing is scheduled for: Tuesday, April 22, 2025, at 6:00 p.m. Anna City Hall Council Chambers 120 West 7th Street Anna, Texas 75409 as described in the attached Notice of Public Hearing. At the public hearing, all interested citizens are invited to attend the public hearing and to speak for or against the proposed creation. If you should have any questions regarding the enclosed documents, please do not hesitate to contact me by phone at (214) 754-9268 or by email at rsegura@mphlegal.com. With best wishes, I am Very truly yours, McCall, Parkhurst & Horton L.L.P. By: Rodolfo "Rudy" Segura Jr Attachment: Notice of Public Hearing CMRRR: 7019 2280 0002 1331 1073 CITY OF ANNA, TEXAS NOTICE OF PUBLIC HEARING REGARDING THE CREATION OF A PUBLIC IMPROVEMENT DISTRICT Pursuant to Section 372.009(c) and (d) of the Texas Local Government Code, as amended (the “Act”), notice is hereby given that the City Council of the City of Anna, Texas (“City”), will hold a public hearing to accept public comments and discuss the petition (the “Petition”), filed by KL LB BUY 4 LLC, a Delaware limited liability company (the “Petitioner”), requesting that the City create The Landing Public Improvement District (the “District”) to include property owned by the Petitioner and further described herein (the “Property”). Time and Place of the Hearing. The public hearing will start at 6:00 p.m. on April 22, 2025 at the Anna City Hall, Council Chambers, 120 W. 7th Street, Anna, Texas 75409. General Nature of the Proposed Authorized Improvements. The proposed public improvements may include: (i) street and roadway improvements, including related sidewalks, drainage, utility relocation, signalization, landscaping, lighting, signage, off-street parking and right-of-way; (ii) establishment or improvement of parks and open space, together with the design, construction of any ancillary structures, features or amenities such as trails, playgrounds, walkways, lighting and any similar items located therein; (iii) sidewalks and landscaping, including entry monuments and features, fountains, lighting and signage; (iv) acquisition, construction, and improvement of water, wastewater and drainage improvements and facilities and facilities related thereto; (v) acquisition of real property, interests in real property, or contract rights in connection with the Authorized Improvements (as defined below); (vi) payment of costs, including, without limitation, design, engineering, permitting, legal, required payment, performance and maintenance bonds, bidding, support, construction, construction management, administrative and inspection costs, associated with developing and financing the public improvements listed in (i) through (v) above; (vii) projects similar to those listed in subsections (i) - (v) above or authorized by the Act, including similar off-site projects that provide a benefit to the property within the District; (viii) any additional improvement projects authorized in the Act; (ix) payment of costs associated with special supplemental services for improvement and promotion of the District as approved by the City including services related to advertising, promotion, health and sanitation, water and wastewater, public safety, security, business recruitment, development, recreation, and cultural enhancement; and (x) payment of costs associated with developing and financing the public improvements listed in (i) - (ix) above, as well as the interest, costs of issuance, reserve funds, or credit enhancement of bonds issued for the purposes described in (i) through (ix) above, and costs of establishing, administering and operating the District (collectively, the “Authorized Improvements”); and (b) the payment of expenses incurred in the establishment, administration, and operation of the District, including maintenance costs, costs of issuance, funding debt service and capitalized interest reserves and credit enhancement fees of any bonds issued by or on behalf of the District, if necessary. These Authorized Improvements shall promote the interests of the City and confer a special benefit upon the Property. Estimated Cost of the Authorized Improvements. The estimated cost to design, acquire and construct the Authorized Improvements, together with bond issuance costs, eligible legal and financial fees, eligible credit enhancement costs and eligible costs incurred in establishment, administration and operation of the District is approximately $25,000,000. Proposed District Boundaries. The District is proposed to include approximately 82.55 acres of land to be included within the city limits of the City and as more particularly described by a metes and bounds description available for public inspection at the office of the City Secretary, 120 W. 7th Street, Anna, Texas 75409. Proposed Method of Assessment. The City shall levy assessments on each parcel within the District in a manner that results in imposing equal shares of the costs on property similarly benefited. All assessments may be paid in full at any time (including interest and principal), and certain assessments may be paid in annual installments (including interest and principal). If an assessment is allowed to be paid in installments, then the installments must be paid in amounts necessary to meet annual costs for those Authorized Improvements financed by the assessment, and must continue for a period necessary to retire the indebtedness of those Authorized Improvements (including interest). Proposed Apportionment of Cost between the District and the City. The City will not be obligated to provide any funds to finance the Authorized Improvements, except for assessments levied on real property within the District. No municipal property in the District shall be assessed. All of the costs of the Authorized Improvements will be paid from assessments and from other sources of funds, if any, available to the Petitioner. During the public hearing, any interested person may speak for or against the establishment of the District and the advisability of the improvements to be made for the benefit of the property within the District.