Staff recommends that the City Council conduct a public hearing and pass the proposed resolution that spreads final assessments for SID 1418.

The assessments for SID 1418 have been completed by the Finance Division and are ready to re-spread on the tax rolls. SID 1418 was originally spread based on estimated costs in 2021 and was re-spread in 2022 after construction was completed. It is now being re-spread a final time after additional expenses were identified on the completed construction costs that were not included in the 2022 re-spread. 

This project constructed approximately 2,450 LF of roadway, including asphalt pavement, curb, gutter, drive approaches, storm sewer infrastructure, replacing approximately 2,350 LF of water main, sanitary sewer improvements, and landscaping along Holiday Avenue. The construction contract was awarded at the 6/28/2021 City Council meeting, and bonds were sold. 

Letters to property owners notifying them of this hearing and the proposed assessment amount have been sent.

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.

The actual cost of the project was $175,493.96. This is $69,059.73 less than the original estimate that was spread to the district in 2021.  The amount being assessed per property will be spread over the remaining 13 years of debt term, as stated in the resolution.