Staff recommends that Council approves the Resolution of Intent to Create SID 1416 and set a public hearing date for March 22, 2021.

Ron Hill, owner of 14 of the 17 lots proposed in the SID 1416 district boundary, desires to construct public improvements on Gleneagles Boulevard between Black Diamond Drive and Lake Hills Drive. These improvements generally consist of water, sanitary sewer, storm drain, curb and gutter, and street improvements to Gleneagles Boulevard. Ron Hill will pay a cash contribution for 14 of his lots.  This is necessary to meet the requirements of the City's Raw Land District Requirements (Resolution No. 87-15592). The City will be making a cash contribution in the amount of $171,143.97 to the project. This will pay for the City's portion of Gleneagles Boulevard because it is classified as an arterial street.  Between Ron Hill's and the city's cash contributions, this represents 85.9% of the total project costs.

City Council may:

• Approve the Resolution of Intent to Create SID 1416 and set a public hearing for the March 22, 2021, City Council Meeting; or
• Disapprove the Resolution of Intent to Create SID 1416.  If not approved, Gleneagles will not be constructed by adjacent property owners.  Both of these streets need to be constructed to make the 17 lots constructible.

The total estimated costs of the improvements are $781,511.80. The costs of the improvements are to be paid from the following sources: (1) $110,000.00 of Special Improvement District bonds; (2) $500,367.83 of cash contribution by Ron Hill, which is the assessment for 14 of the 17 lots in the District; and (3) $171,143.97 of cash contribution from the City of Billings out of gas tax and storm drain funds.