University Park city council members Tuesday greenlit officially greenlit the creation of a Snider Plaza public improvement district to help fund employee parking.
The boundaries of the public improvement district includes properties in Snider Plaza south
of Rankin Street, the city-owned property at 3420 Rankin Avenue, and the SMU-owned property at 3330 Daniel Avenue.
The PID is set to operate for an initial 10-year timeframe, from Jan. 1, 2027 to Dec. 31, 2036, with property owners within the PID expected to pay a rate of $0.15 per $100 of valuation to fund offsite employee parking for an estimated 150 to 200 employees.
The proposed assessment of $0.15 per $100 of assessed value is estimated to generate a total of approximately $194,000 in its first year.
The vote on May 19 came after petitions for the creation of the PID received support from property owners representing more than 50% the land area and more than 50% of the appraised value of the property proposed in the PID.
The next steps for the creation of the PID is appointment of a PID board, which could happen as soon as June 2, and a public hearing on the assessment before Sept. 1.
In other news:
- The City Council approved an ordinance that will allow for changes to the layout and new structures to Scotland Yard baseball field. The plans for the field include adding a restroom building, moving the bull pens, free-standing bleachers, and metal storage building, as well as adjusting the dimensions of the playing surface, changing the landscaping requirements on the Douglas Avenue and Lovers Lane frontages, replacing netting to reach a height of 60′ above the playing surface, and more.
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