Public Improvement Districts (PID) were established for the Panther Creek area of Frisco. The PIDs were created for the purposes of enhancing the amentities and expediting the timing of their installation.
PID Improvements include:
- Enhanced landscape,
- Additional open space
- Lakes and fountains
- Improved city parks
- Shade structures
- Distinctive entries and various recreational and pedestrian improvements
The PID fee that you are paying the Home Owners Association is for the ongoing maintenance and operations of these enhancements. The PID assessment is for the financing of the construction of the improvements. Bonds were sold to finance the construction. Each residential lot within the community was assessed an equal portion to repay this obligation. Property owners were to be informed by their builders and/or the title companies of this assessment. Some homeowners have paid all of the assessment and some have paid only a portion of the assessment at closing.
The total assessment per lot is $2,497.82.
If a homeowner chooses to pay over time the annual billing is $191.40 annually for over a twenty year period.
The total assessment per lot is $3,014.59.
If a home owner chooses to pay over time the annual billing is $241.72 annually over a period of twenty years.