The city of Tomball is seeing an uptick in residential construction with hundreds of acres of land cleared for new communities. At least six new communities are underway with others proposed or recently completed, many of which are within public improvement districts, a real estate development tool to help fund improvements in the new communities. The annual PID assessment within the city ranges from $1,700-$4,500 per lot, City Manager David Esquivel said in an email.
The city of Tomball includes about 3,800 homes, Esquivel said. About 2,100 new homes are anticipated within five years, he said. Additionally, the city is on track to receive about $4 million more in general fund revenue than was anticipated for fiscal year 2020-21, approximately half of which stems from new development and associated fees, Esquivel said.
What is a public improvement district? A public improvement district, or PID, is a real estate development tool similar to a municipal utility district, or MUD, that allows a developer to recoup costs spent on a project by assessing fees to homebuyers.
There are 11 PIDs in the city of Tomball as approved by City Council members, which span most of the city’s new residential communities.
