Public Improvement Districts (PID) were established for the Panther Creek area of Frisco. The PIDs were created for the purposes of enhancing the amenities and expediting the timing of their installation.
PID Improvements Include
Additional open space
Lakes and fountains
Improved city parks
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 homeowner chooses to pay over time the annual billing is $241.72 annually over a period of twenty years.