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Item 7.e.
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| City Council Regular | |
| Date: | 09/11/2023 |
| Title: | Public Hearing SID 2925 Allocation of Assessments |
| Presented by: | Andy Zoeller, Finance Director |
| Department: | Finance |
| Presentation: | Yes |
| Legal Review: | No |
| Project Number: | 612925 |
RECOMMENDATION
Staff recommends that the City Council conduct a public hearing and pass the proposed resolution to assess property owners for sidewalk construction costs for SID 2925 (work order 22-07).
BACKGROUND (Consistency with Adopted Plans and Policies, if applicable)
The improvements constituting the Mullowney Lane Improvements will be the reconstruction of and improvements to Mullowney Lane from the Midland Road/South Frontage Road intersections south to Elysian Road, including two-way left turn lanes, sidewalk on the west side, 10-foot wide multi-use trail on the east side, curb and gutter, storm drain, irrigation, streetlights, and a signalized intersection at the Elysian Road/Mullowney Lane intersection located mid-way between the South Frontage Road and Elysian Road, within the City of Billings. SID No. 2925 (work order 22-07) has been completed by the Finance Department and is ready to spread on the 2023 tax roll.
ALTERNATIVES
City Council may:
- Approve; or,
- Not Approve, the property owners will not be assessed, and the General Fund will be responsible for paying for the improvements.
FISCAL EFFECTS
The total cost spread to the district is $606,950. Assessments range from $15,877 to $114,956 spread over a 12 year period, at an interest rate of 6.47%. The amount assessed per property is stated in the resolution.