By Glynis Crawford Smith
The Highlander
Following a lengthy presentation on the city's first foray into a Public Improvement District (PID), the Marble Falls City Council approved moving forward on the request for PID for the Gregg Ranch Development.
The development of 242 acres of land bounded both by US 281 and Texas 71 has been long in planning and a year ago the developer, Harvard Investments, submitted the request to follow the PID model for financing. The council's action provides for a March 20 public hearing for public comment on the petition and creation of the district.
Rick Rosenberg of Development Planning & Financial Group, Inc., who guided the council through a workshop on the proposal, praised the work of the city to establish its formal PID Policy adopted in 2015.
“It is very detailed,” he said.
It transfers the cost of infrastructure development to the property owners of the development.
