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Public Improvement District
What is a Public Improvement District (PID)?
A Public Improvement District (PID) is a specialized district established by the City to fund public infrastructure improvements and services within a defined geographic area. These improvements are financed through assessments on properties within the district, ensuring that those who benefit from the enhancements contribute to their cost.
Why Implement a PID?
PIDs are implemented to:
- Accelerate the development of public infrastructure, including roads, sidewalks, parks, and utilities.
- Support economic growth and community development.
- Ensure a fair and transparent funding mechanism where costs are distributed among property owners in the district based on the benefits received.
How Does a PID Work?
Creation Process:
- A developer or property owner petitions the City for a PID.
- The petition must represent at least 50% of the landowners and property values within the proposed district.
- The City evaluates the petition, holds public hearings, and, if approved, establishes the PID by resolution.
Funding Improvements:
- Improvements are financed through bonds issued by the City or assessments levied on properties within the district.
- Assessments are based on the cost of improvements and the proportional benefit received by each property.
Management:
- The PID may be managed directly by the City or through a third-party PID Administrator.
- Oversight ensures that funds are used efficiently for the designated projects.
Authorized Improvements
PIDs can fund a variety of projects, including but not limited to:
- Street and roadway construction.
- Drainage, water, and wastewater improvements.
- Parks, open spaces, and recreational facilities.
- Landscaping, lighting, and signage.
- Supplemental services for the improvement and promotion of the district.
Transparency and Accountability
Fair Oaks Ranch is committed to ensuring that all PID activities are conducted transparently. Public hearings and disclosures are integral parts of the PID process. Property owners receive clear notices about assessments, and the City adheres to strict management and reporting standards.
Learn More or Get Involved
If you’re a developer or property owner interested in initiating a PID, or if you’d like to learn more about existing PIDs in Fair Oaks Ranch, please refer to our Public Improvement District Policy document for detailed information on the PID policy, including petition requirements and development agreements.