Pearland City Council on Monday voted 4-1, with Felicia Harris opposed, to approve an interlocal agreement and amended memorandum of understanding with Brazoria Drainage District No. 4.
The agreement will be amended to include the construction of the Hickory Slough Detention Pond Project at Max Road.
“The City of Pearland ’s current Capital Improvement Program includes the design and construction of the Hickory Slough Detention Pond at Max Road,” Project Director Trent Epperson said. “This project is being designed in conjunction with the Max Road Sports Complex and Hughes Ranch Rd. extension.”
Under the agreement, both the city and the drainage district will approve the design of the pond, and will each provide half the funding for the project, with the drainage district’s funding portion not to exceed $2 million for the first phase of the project.
The city council voted unanimously to authorize the issuance of refunding bonds in a maximum principal amount of $50 million.
The bonds will be sold only if conditions are met, such as a net value savings of at least three percent. Refunding bonds provide refinancing of previously issued bonds at reduced interest rates, resulting in savings for the city.
The city council voted unanimously to approve a sub-developer reimbursement agreement associated with Tax Increment Reinvestment Zone No. 2.
The agreement is in relation to a 315-acre tract of land recently purchased by Perry Homes for development as a residential area.
The city council voted unanimously to approve the final reading of an amendment to the city’s non-development usage and service fees, such as utility billing fees for customers outside the city limits.
The item was approved with amendments to clarify certain fees.
The city council held an executive session to discuss economic development negotiations. No action was taken following the executive session.
All other items were approved by unanimous vote. All members were present. Agenda