Background Information

The Enclave at River Park began development in 2015, and through a petition by the developer to the City, the PID was created in 2014 to finance public infrastructure required for the development of homes in the area instead of making an in-City Municipal Utility District (MUD) to support development as adjacent neighborhoods did. The PID is a more cost-effective means of financing public infrastructure than a MUD, and the small size of the development made a MUD a less effective means to fund the improvements. Infrastructure allowed to be reimbursed included street and drainage improvements and utility improvements required to serve the homes.

 

The developer has been reimbursed for the investment in the infrastructure- the reimbursement was paid in 2019 and financed by the City over 15 years to allow the payments to be spread over time. The debt is funded through the assessment on property owners in the Enclave at River Park. The assessment is anticipated to decrease annually through the life of the PID (the PID expires in 2031). The City contributes property taxes to the PID, similar to in-City MUDs in other parts of the City.  

 

The development agreement provided for the reimbursement of up to $2 million in public infrastructure plus interest. Properties in the district have been paying an assessment since 2015, and the City also contributes an amount equal to 50% of the City property taxes collected on those properties in the prior year, similar to the tax rebates provided to in-City MUDs. The assessment amount has decreased annually as the area has developed due to the increasing contribution by the City from the tax revenues.

 

2023 Assessment

The initial assessment in 2015 was $1,107 per lot and has decreased annually as the value of the City’s tax contribution has increased. The 2023 proposed assessment amount is $340 per lot, which is a $90 decrease from the prior year's assessment of $430 per lot. The assessment is billed and collected by Fort Bend County and included on the property tax bill for these properties.

 

Public Hearing and First Reading

A Public Hearing and First Reading of Ordinance No. 2316 were held during the September 5, 2023, City Council Meeting.

 

Recommended Action

Consider and approve the Second Reading of Ordinance No. 2316, the 2023 proposed assessment for the Enclave at River Park Public Improvement District.