Staff recommends that Council approve the Resolution of Intent to Create SID 1421 and set a public hearing date for January 23, 2023.

Ron Hill, owner of 17 of the 23 lots proposed in the SID 1421 district boundary, desires to construct public improvements on Opal Lane, Greenbriar Road, and Cypress Point. The infrastructure generally consists of water, sanitary sewer, storm drain, curb and gutter, and street improvements to Opal Lane, Greenbriar Road, and Cypress Point.  Ron Hill will pay a cash contribution for the infrastructure cost associated with 17 of his lots.  This is necessary to meet the requirements of the City's Raw Land District Requirements (Resolution No. 87-15592). Ron Hill's cash contribution represents 72% of the total project costs.

City Council may:

• Approve the Resolution of Intent to Create SID 1421 and set a public hearing for the January 23, 2023, City Council Meeting; or
• Disapprove the Resolution of Intent to Create SID 1421.  If not approved, Opal Lane, Greenbriar Road, and Cypress Point will not be constructed by adjacent property owners.  All of these streets need to be constructed to make the 23 lots accessible for home building.

The total estimated costs of the Improvements are $1,195,908.34.  The costs of the Improvements are to be paid from the following sources:  (1) $335,000.00 of Special Improvement District bonds; and (2) $860,908.34 of cash contribution by Ron Hill, the owner of 17 of the 23 lots in the District.