Item 104 Passedunofficial
In plain language — from the agenda backup
This item sets the assessment rate and approves the 2027 assessment roll for the Austin Downtown Public Improvement District, along with the district's Service and Assessment Plan and Budget update for 2027. The Downtown PID charges downtown property owners a fee to fund neighborhood services and improvements, so the rate matters to anyone owning or leasing commercial space in the district. The 2027 assessment rate of $0.0925 per $100 on commercial properties valued above $500,000 is estimated to produce $13,118,225.80 at an 85% collection rate.
The official agenda language
Conduct a public hearing and consider an ordinance setting the assessment rate and approving the 2027 assessment roll for the Austin Downtown Public Improvement District and declaring an emergency and consider an ordinance approving the Austin Downtown Public Improvement District Service and Assessment Plan and Budget update for 2027 and declaring an emergency. Funding: The 2027 assessment rate of $0.0925/$100 on commercial properties valued at more than $500,000 is estimated to produce $13,118,225.80 at an 85% collection rate.
"Without objection, item number 104 is adopted." — meeting transcript (unofficial)