PID affecting status of shopping center
A PROPOSED Target-anchored shopping center in the city of Madison is on hold for multiple reasons, but largely because of a financially unstable PID.
“If anything, the PID is at the crux of our problem,” said developer Eric Seitz.
The retail site is located behind the Valero gas station off Highway 463, on the west side of Galleria Parkway, and is part of the Parkway South Public Improvement District.
Both landowners in Parkway South have defaulted on PID assessments that go toward retiring bonds issued in 2007.