Regular 4.B.
Regular City Council Meeting
- Meeting Date:
- 09/23/2019
- TITLE
- Public Hearing Respread SID 1404
- PRESENTED BY:
- Andy Zoeller
- Department:
- City Hall Administration
Presentation:
Yes
PROBLEM/ISSUE STATEMENT
The assessments for SID 1404 have been completed by the Finance Division and are ready to spread on the tax rolls. SID 1404 was originally spread based on estimated or bond cost and is now being re-spread based on the completed construction cost. This project constructs street lights in the Annafeld Subdivision which is located south of Elysian Road near Elysian School.
ALTERNATIVES ANALYZED
The Council must hold a public hearing and then may:
- Approve the resolution; or
- Not approve the resolution. The property owners will not be assessed, and the General Fund will be responsible for paying for the improvements.
FINANCIAL IMPACT
The actual cost of construction was approximately $38,000 less than the original estimates that were spread to the district. The reduction is being proportionately re-spread to the district, resulting in an average reduction in assessment of $355 per property. The amount assessed per property for the remaining 14 years is stated in the resolution.
RECOMMENDATION
Staff recommends that the City Council conduct a public hearing and pass the proposed resolution that spreads final assessments for SID 1404.