Hutto City Council will vote on the annexation and creation of a public improvement district for Limmer Square, a proposed 111-acre development, at its June 5 meeting. The action comes after postponing the two items on the May 15 agenda to give the developer more time to execute the agreement.

Some context

City Council previously passed a development agreement with Limmer Holdings for the planned site in April.

Preliminary site plans show a mix of residential, commercial and open space at the intersection of SH 130 and Limmer Loop, which includes:

• 205 units of 40-foot single-family lots
• 220 units of townhomes
• 300 units of multifamily residential
• 60,000 square feet of commercial space

To help pay for infrastructure and improvements, the developer proposed the creation of a PID.

On the agenda

City Council held public hearings for both the PID creation and voluntarily annexing the land at its May 15 meeting but adjourned the vote until June 5. These items will help execute the development agreement.

Currently in the city’s extraterritorial jurisdiction, the city will collect wastewater and trash fees, as well as property taxes, once the land is annexed.

Digging deeper

A PID requires property owners to pay an additional fee or tax to fund public improvements that directly benefit the area. It also allows the developer to receive funding to support construction, usually through bonds.

According to a presentation at the April 17 City Council meeting, the project fund comes out to about $32 million, including the PID bonds, associated costs and owner contributions. The proposed tax rate equivalent for the Limmer Square PID is $0.84 per $100 valuation, in addition to the city property tax rate of $0.399553 per $100 valuation.

The background

The same land was previously planned for a development called Pearl Estates. Limmer Holdings first brought the development to City Council to create a municipal utility district before revising the development plan based on council direction.