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R-05-03-10-14B3 - 3/10/2005RESOLUTION NO. R -05-03-10-14B3 A RESOLUTION SETTING A DATE, TIME AND PLACE FOR A PUBLIC HEARING ON THE PROPOSED ASSESSMENTS AGAINST THE REAL PROPERTY WITHIN THE FOREST CREEK DRIVE PUBLIC IMPROVEMENT DISTRICT; AND AUTHORIZING PUBLICATION OF NOTICE OF SAID HEARING. WHEREAS, a petition regarding the creation and establishment of the Forest Creek Drive Public Improvement District (PID) has been submitted to the City, and WHEREAS, the City held a public hearing on March 10, 2005 regarding the creation and establishment of the PID and approved such creation, and WHEREAS, the City now desires to call a public hearing to consider the proposed assessments against real property within the PID, Now Therefore BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS, I. That a public hearing regarding the proposed assessments against real property within the Forest Creek Drive Public Improvement District shall be held before the City Council of the City of Round Rock, Texas on the 14th day of April, 2005 at 7:00 p.m. in the City Council Chambers at 221 East Main Street, Round Rock, Texas 78664. @PFDesktop\::ODMA/WORLDOX/0:/WDOX/RESOLUTI/R5031083.WPD/bbw II. That the City Secretary is directed to give proper notice of the hearing as required by Section 372.009 of the Local Government Code. The City Council hereby finds and declares that written notice of the date, hour, place and subject of the meeting at which this Resolution was adopted was posted and that such meeting was open to the public as required by law at all times during which this Resolution and the subject matter hereof were discussed, considered and formally acted upon, all as required by the Open Meetings Act, Chapter 551, Texas Government Code, as amended. RESOLVED this 10th day of March, 2005. `yr Cit of Round Rock, Texas R WELL, ayor • CHRISTINE R. MARTINEZ, City Secret 2 y NOTICE OF PUBLIC HEARING Notice is hereby given of a public hearing to be held in accordance with Chapter 372 of the Local Government Code, Vemon's Annotated Civil Statutes, to consider the proposed assessments against real property within the Forest Creek Drive Public Improvement District (the "District") as authorized by the City Council and effective on March 15th, 2005. Said public hearing is to be held at 7:00 p.m. on the 14th day of April, 2005, at City Council Chambers, 221 E. Main Street, Round Rock, Texas. The improvements proposed for the District shall consist of the cost of all materials and labor for the construction of two lanes of Forest Creek Drive running through the real property described below (the "Property"), the median, sidewalks on each side of Forest Creek Drive, drainage and lighting, but not including engineering and design costs (the "Proposed Improvements"). The parties hereto agree that the portion of the costs of Forest Creek Drive paid by the Developer is attributable to the needs of Developer's development. The estimated costs of the Proposed Improvements are Six Hundred Seventy -Seven Thousand, Eighty -One and 55/100 Dollars ($677,081.55), plus 5.5% simple interest, which includes expenses incurred in the establishment and administration of the Proposed Improvements. In no event shall the total District assessments be more than Six Hundred Seventy-seven Thousand Eighty-one and 55/100 Dollars ($677,081.55), plus simple interest of 5.5%, except pursuant to the terms and conditions stated in the Development Agreement by and between Petitioner and the City of Round Rock (the "City") as approved in Resolution No. R -04-08-26-13E1. 1) The proposed assessment plan shall be as follows: An assessment of Six Hundred Seventy -Seven Thousand, Eighty -One and 55/100 Dollars ($677,081.55), plus 5.5% simple interest, shall be levied on the Property and shall be paid on a per -acre, pro -rated basis, due seven (7) years after Substantial Completion of the extension of Forest Creek Drive through the Property, or at time of plat recordation, whichever first occurs. Substantial Completion shall mean the date on which the City's Director of Public Works notifies the contractor that the portion of Forest Creek Drive through the Property has been finally accepted by the City. The total costs of the District assessments shall be shared by the District property owners. The proposed assessment roll containing the amount of the proposed assessment is available for public inspection in the office of the City Secretary in the Round Rock City Hall at the above -listed address. Written or oral objections will be considered at the public hearing. Spanish translations are available upon request from the City Secretary of Round Rock. The boundaries of the Property included within the District contain approximately 147.076 acres of land out of a part of the Prior A. Holder Survey, Abstract No. 297, situated in Williamson County, Texas, being more fully described as being all of that certain Tract 3, described in a deed to Round Rock Ranch, Ltd., as recorded in Volume 2418, Page 51 of the Deed Records of Williamson County, Texas, except for 3.469 acres. Field notes further describing this excepted acreage are available for inspection in the City of Round Rock Transportation Department, 212 Commerce Cove, Round Rock, Texas. Interested parties may appear at the public hearing. For questions regarding the proposed District or for more information, contact the City of Round Rock Transportation Department at 218-5562. SERVICE Z O ROSEMOONj DR m do ARROWOO° PL o III w O CRANE CANYON PL 0 O W O U w dl ONVIddOd RUSK RD CROSSLEY CROSSING BELVEDERE PL JOHNSON LN O d NrCt Y" vr0 S J1 Ce ‘.1, z Q_ _ G� cr ��e j V-l"Z? FORT LLOYD Com' EEK DR B 210 N33210 319f1Oa OUB'` CR w _ D FORT THOMAS PL SERVICE 12iL 32 WAY 11 V3 s Nl lb'n001 AVM V1831SIM HIVd lf]NIS3H0 REDWOOD TRCE Cr co0 DATE: March 3, 2005 SUBJECT: City Council Meeting - March 10, 2005 ITEM: 14.B.3. Consider a resolution setting the date, time and place for a public hearing on the proposed assessments for the Forest Creek Drive Public Improvement District. Department: Transportation Services Staff Person: Thomas G. Martin, P.E., Director Justification: On or about December 10, 2004, a petition was received from the owners of certain property within portions of the Round Rock Ranch Subdivision to create the Forest Creek Drive Public Improvement District (PID). In a previous Resolution was adopted to create this PID. This Resolutionwould item uthorize tthe Mayor to set a Public Hearing to be held at 7:00 p.m. on the 14th of 2005 at the City Council Chambers located at 221 East Main Street, RoundyR ckpril, Texas. Fung din• Cost: N/A Source of funds: N/A Outside Resources: Round Rock Ranch, Limited Background Information Forest Creek Drive is a major arterial shown in the City's Transportation Master Plan. The city currently has a project to construct remaining s of this facility between Rusk Road and the Lake Forest Subdivision. This project ris being funded using 4B Corporation Funds and developer contributions made through Cost Sharing/Development Agreements. However, the portion of this project, through Round Rock Ranch, is proposed to be paid by means of a PID. The contract for this construction, in the amount of $2,969,564.65 was awarded by the City Council at the August 26, 2004 meeting. Public Comment: A public hearing concerning the feasibility and desirability of the Forest Creek Drive PID will be held on this item.