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"The reason PIDs are so successful across the country is that less than one half of 1 percent have ever failed," Metcalfe said. "They don't fail. This is a development tool the city can use to help push developments to come in on a faster basis and at a higher quality. When the developer has freedom to spend more money on amenities than pure wastewater line and water lines, that Polo Shirts Wholesale Embroidery

frees them out to spend their money on what really makes a great development for the city."

Attorney Steve Metcalfe, representing Milam, said the PID would pay for water and wastewater lines on the project, extensive landscaping along Bee Cave Parkway, as well as moving an affluent line across RM 620 to water plants in a median.

dotted the I's and crossed the T's and been really attentive, you shouldn't have any liability if it really cratered. You rely on the credibility of the feasibility studies and do your best to make sure you have sufficient information to insulate yourself from liability on this."

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A Public Improvement District, or PID, is an economic development Lacoste Golf Polo

The developers of the Backyard at Bee Cave and Terrace are willing to make public improvements part of their project if the City Council agrees to make the properties into Public Improvement Districts.

tool that provides developers with extra funds to build projects that could be considered public improvements while granting the city ultimate control, Thomas Pollan, attorney with Bickerstaff Heath Delgado Acosta, said. The city issues a bond, typically in the amount of one third of the appraised value of the development project. After the bond is paid off, the public improvements become the property of the city, or whichever municipality the city chooses to give them to. The bonds do not create a tax burden on residents of the city, Pollan explained, because the developer is solely responsible for paying it off.

The Backyard at Bee Cave, the as of yet approved music venue and movie production studio campus off of Bee Cave Parkway, is headed up by developer Chris Milam, president of International Development Management. Milam also heads up the Terrace, an as of yet approved series of high end condominiums off of Bee Cave Parkway. City Council discussed the possibility of a Public Improvement District for each development at the March 25 council meeting.

´╗┐Backyard at Bee Cave asks for Public Improvement District

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"I was generally impressed with the second iteration of the project we saw and was excited about it," resident Steve Albert said. "At this point, I don't want any of it this is real bad faith on the part of the developer. I'm disgusted by it there's no need Ladies Fitted Polo Shirts Uk to provide extra economic incentives to any developer in the city right now."

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Several residents spoke, voicing some skepticism at the idea of a PID in the city of Bee Cave.

"The documents should protect the city from any liability," Pollan said. "There could be some residual fallout, but if you make sure you've Fred Perry Slim Fit Polo Red

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