Pflugerville City Council approved an ordinance to issue special revenue bonds to fund public improvements in the Meadowlark Preserve area at its meeting Feb. 11. The bonds will help finance public infrastructure for the development.
What is it?
Public Improvement Districts provide funding for additional maintenance or services in a community through bonds backed by property assessments in the area. The bonds cover construction costs, pay interest during development and cover administrative and issuance expenses.
The action taken
After a review of the authorized improvements, City Council approved bond funding for:
- Wastewater lines
- Drainage and stormwater systems
- Street and pavement improvements
- Street lights and signage
The city estimates the total costs, including bond issuance fees, to come out to around $19.5 million.
Some context
Pflugerville first approved the creation of the Meadowlark PID, located near Cameron Road and Jesse Bohls Drive, in 2022. The 98-acre site will include an estimated 375 single-family homes upon completion.
The PID equivalent tax rate for the district is $0.7025 per $100 assessed value.
