City of Leander Crystal Springs Public Improvement District

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NOTICE OF PUBLIC HEARING

Notice is hereby given that the City Council of Leander, Texas will hold a public hearing beginning at 7:00 PM on the 16th day of February, 2017 at Pat Bryson Municipal Hall located at 201 N. Brushy Street, Leander, Texas. The public hearing will be held to consider the advisability of the Crystal Springs Public Improvement District (the “District”).

General Nature of Proposed Improvements: The general nature of the proposed public improvements are: (i) the establishment of parks and open space, together with the design, construction and maintenance of any ancillary structures, features or amenities such as trails, pavilions, community facilities, irrigation, walkways, lighting, benches, swimming pools, trash receptacles and any similar items located therein; (ii) landscaping; (iii) acquisition, construction, and improvement of water, wastewater and drainage facilities; (iv) acquisition, construction and improvement of streets, roadways, rights-of-way and related facilities; (v) entry monumentation and features; (vi) signage; (vii) projects similar to those listed in subsections (i) – (vi) above; and (viii) payment of costs associated with constructing and financing the public improvements listed in subparagraphs (i) – (vii) above, including costs of establishing, administering and operating the District.

Estimated Cost of the Improvements: Approximately $6,500,000.00 (including issuance and other financing costs). 

Boundaries: 128.40 acres located east of Hwy 183A, south of E. Crystal Falls Pkwy, west of Ronald Reagan Blvd. as generally depicted on Exhibit A attached hereto. 

Proposed Method of assessments: An assessment methodology will be prepared that will address (i) how the costs of the public improvements financed with the assessments are assessed against the property in the District, (ii) the assessments to be collected each year, and (iii) reduction of the assessments for costs savings (pursuant to the annual review of the service plan for the District). Additionally, a report will be prepared showing the special benefits accruing to property in the District and how costs of the public improvements are assessed to property on the basis of the special benefits. The result will be that equal shares of the costs will be imposed on property similarly benefitted. The assessment of the methodology will result in each parcel paying its fair share of the costs of the public improvements provided with the assessments based on the special benefits received by the property from the public improvements and property equally situated paying equal shares of the costs of the public improvements.

Proposed apportionment of cost between the improvement district and the municipality or county as a whole: Approval and creation of the District will not obligate the City of Leander or Williamson County to provide any funds to finance the proposed public improvements. All of the costs of the proposed public improvements will be paid solely from assessments levied against the property within the District and from other sources of funds, if any, available to the developer of the land within the District.

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