Staff recommends that Council conduct a public hearing and approve the resolution creating SID 1416 Gleneagles Boulevard.

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 attributed to the 14 lots owned by him.  The cash contribution is necessary to meet the requirements of the City's Raw Land District Requirements (Resolution No. 05-18234). The City will be making a cash contribution in the amount of $171,143.97 to the project. The City contribution 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.  Attached is a map of the district and the Resolution Creating SID 1416.  

The Council may:

• Conduct a public hearing and approve the resolution creating SID 1416; or,
• After holding a public hearing, do not approve the resolution creating SID 1416.  If not approved, Gleneagles Boulevard will not be constructed by adjacent property owners.  This street needs to be constructed to make the 17 lots buildable.

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.