The city is drafting a clear and formal process for creating public improvement districts, or PIDs, in the city or its extraterritorial jurisdiction.
The rules, outlined to the Princeton City Council Monday, Nov. 10, in a work session, were intended to bring order, transparency and consistent standards to a tool that has become central to financing infrastructure in the city’s fast-growing subdivisions.
Under the new policy, developers would be required to show that any proposed district offers a measurable benefit to the city and to the homeowners who would pay the resulting assessments.
The proposal was pulled from the consent agenda by Councilmember Terrance Johnson and then tabled to the Dec. 8 meeting during the overflow session Wednesday, Nov. 12, after councilmembers said it needed some tweaks.
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