|
Item 2.f.
|
| City Council Regular | |
| Date: | 09/09/2024 |
| Title: | Public Hearing SID 2926 Allocation of Assessments |
| Presented by: | Andy Zoeller, Finance Director |
| Department: | Finance |
| Presentation: | Yes |
| Legal Review: | No |
| Project Number: | 612926 |
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 2926 (work order 23-02).
BACKGROUND (Consistency with Adopted Plans and Policies, if applicable)
This project is for Missing Sidewalk Improvements in various locations around the City of Billings. SID No. 2926 (work order 23-02) has been completed by the Finance Department and is ready to spread on the 2024 tax roll.
ALTERNATIVES
City Council may:
- Approve; or,
- Not Approve. If not approved, 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 $222,414.61. Assessments range from $1,996.20 to $14,217.94 spread over a 12 year period, at an interest rate of 5.25%. The amount assessed per property is stated in the resolution.