The Victoria City Council will hold two public hearings to consider refinancing certain bonds and annexing two tracts, totaling about 12 acres Tuesday evening.
The Council is considering refinancing over $4 million in Utility System Revenue bonds. Based on current interest rates, it is estimated the refunding could save the city more than $330,000, according the meeting agenda.
The owners of two tracts of land east of U.S. 87 near the northwest edge of the city have requested to be annexed. The tracts are owned by Golden Crescent Holdings and Ben Streiff, Page Streiff, Bruce Jank, and Darla Fox and total roughly 12 acres. The land is proposed to be developed as part of Lake Forest Subdivision and will hold 24 single-family residential lots, according to the meeting agenda.
State law allows a landowner to petition the city for annexation as long as the area is a 1/2 mile or less wide, is contiguous to the current city limit line, and is vacant or has less than three qualified voters living on it.
The City Council will also hear reports on the Victoria Broadband Commission efforts and the American Rescue Plan Act funding recommendations.
The Broadband Commission recently partnered with CobbFendley to conduct a feasibility study to assess broadband needs in Victoria. Residents are able to share their thoughts through an online survey, available at victoriatx.gov/broadband, or by attending a public meeting at 5 p.m. on July 21.