Staff recommends that the City Council conduct a public hearing and pass the proposed resolution to allocate assessments for SID 1430.

SID 1430 will fund streetlight and park improvements within the Annafeld Subdivision 6th and 7th Filings and Annafeld North Subdivision 1st Filing, located south of Elysian Road near Elysian School. Streetlights will be installed along all street frontages within the affected subdivisions. The individual property assessments for SID 1430 have been calculated and are ready to be allocated among the benefiting properties. The total project cost of $1,510,000.00 will be assessed proportionately to the individual properties in accordance with the attached resolution. The assessment will be spread over a 15-year period at an interest rate of 6.00%. This assessment structure distributes the cost of the streetlight and park improvements among the properties benefiting from the project while providing for repayment over the established assessment term.

SID 1430 - This project shall fund streetlight and park improvements within Annafeld Subdivision 6th and 7th Filing and Annafeld North Subdivision 1st Filing, located south of Elysian Road near Elysian School, and streetlights will be installed along all street frontages.
The individual property assessments for SID 1430 have been calculated and are ready to be allocated to the benefiting properties.  The total amount is allocated proportionately to individual properties, with the amount being assessed at $1,510,000.00 spread over 15 years.

The total amount to be spread is $1,510,000.00.  The costs associated with SID 1430 are assessed per lot, per the attached resolution.  The assessment is spread over a 15 year period, with an interest rate of 6.00%.

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.