CORPUS CHRISTI, Texas — On Tuesday, City Council will meet to discuss the possibility of adding a new Public Improvement District to the London area.
This would be the city's second PID, as the White Cap Public Improvement District was created in 2022.
A Public Improvement District can best be described as an economic tool that permits the financing of improvements which provide a special benefit on a definable part of the city.
The district can finance capital costs and fund supplemental services to meet community needs which otherwise could not be constructed due to lack of infrastructure.
"This development is going into an area that doesn't have sufficient infrastructure to be able to support the construction and the ongoing day to day needs for this subdivision," assistant city manager Heather Hulbert said. "What this does is it provides a financing tool to be able to help the developer with the cost of that infrastructure."
"By doing a Public Improvement District, it helps because it elevates the level of quality of items or infrastructure that a development can actually have." director of economic development Arturo Marquez added.
It's important to note that these improvements would be paid for by property owners within that district.
Hurlbert says the strength of using a Public Improvement District as an economic tool is the fact that properties that are benefiting from the improvements are the ones paying for it.
"Unlike some other economic development tools where we utilize increment that's built from all taxpayers or all property owners, this is only from those property owners that are within the district and benefit from those improvements of the district," she said.
This new district would be called the Mirabella Improvement District and is what the city would consider an amenity-based subdivision. The 300-acre development would be placed along the east side of Chapman Ranch Road and south side of County Road 22.
The developer of this project is proposing over 1,154 single and multifamily units and rental residential housing. It would also include 23 acres of parks,13 miles of hike and bike trails, a resort-style pool and recreation fields for residents to play baseball, pickleball, and basketball.
The city is still in the beginning stages of making this new development a reality.
On Tuesday, council will only be receiving the petition to create the district from the property owners, Rhodes Development and The London Proper, LLC.
It won't be until Dec. 3 that council comes back for a public hearing, receives input and then officially creates the district.
Even after that, Hurlbert says developing the district will be a multi year process. After December, the developer will continue to identify infrastructure needed for development and the city will then put together a financing plan.
The development is looking at a 10-year build time with an estimated completion by 2036 and an anticipated taxable value of approximately $467 million once complete.
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