McCall Development Inc., developer of Annafeld Subdivision, desires to construct public improvements in the subdivision that include street lights and park improvements.  They would like to complete these improvements, estimated to cost $1,000,000 including issuance costs, utilizing a special improvement district.  Annafeld Subdivision is located south of Elysian Road near Elysian School.  The park improvements proposed will be constructed in accordance with the park master plan for the subdivision and the street lights will be installed along each street frontage.  McCall Development previously constructed the streets and utilities within Annafeld Subdivision 1st Filing totaling $1,267,144.06 worth of improvements.  These improvements meet the match requirement of the City's Raw Land District Requirements (Resolution No. 87-15592). The already constructed improvements represent approximately 56% of the total improvement costs when including street, utility, street lights, and parks improvements. A Resolution of Intent to create the district was approved by City Council on January 22, 2018.  Protests will be announced at the Council meeting.

The Council may:

• Conduct a public hearing and approve the resolution creating SID 1404 Annafeld Subdivision Parks and Streetlights; or
• After holding a public hearing, do not approve the resolution creating SID 1404 Annafeld Subdivision Parks and Streetlights.  If not approved, the parks and streetlights will need to be constructed by the developers.  The Subdivision Improvements Agreement approved by City Council October 10, 2017, outlines that these improvements can be constructed utilizing an SID.

The total estimated costs of the improvements are $1,000,000.00 which will be paid from SID bonds and assessed to the properties within the SID boundary.

Staff recommends that Council conduct a public hearing and approve the resolution creating SID 1404 Annafeld Subdivision Parks and Streetlights.