Susan B Lovely, Inc., owner of 24 of the 33 lots proposed in the SID 1399 district boundary, has the desire to construct public improvements on Lake Heights Drive and Ditton Drive. These improvements generally consist of water, sanitary sewer, storm drain, curb and gutter, and street improvements.  Susan B Lovely, Inc. will pay a cash contribution for 18 of the owned lots which represents about 52% of the total cost of the SID.  This is necessary to meet the requirements of the City's Raw Land District Requirements (Resolution No. 05-18234).  The proposed SID will allow the remaining amount to be assessed to the other 15 lots within the district.

The Council may:
 • After holding a public hearing, approve the Resolution Creating SID 1399; or
• After holding a public hearing, do not approve the Resolution Creating SID 1399.  The SID and proposed improvements will not go forward with this option.

The total estimated costs of the Improvements are $1,216,640.01. The improvements costs are  to be paid from the following sources: (1) $590,000 of Special Improvement District bonds;  and (2) $626,640.01 of cash contribution by Susan B Lovely, Inc.

Staff recommends that Council conduct a public hearing and approve the Resolution Creating SID 1399.