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Item 7.b.
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| City Council Regular | |
| Date: | 09/12/2022 |
| Title: | Public Hearing SID 2920 Allocation of Assessments |
| Presented by: | Andy Zoeller, Finance Director |
| Department: | Finance |
| Presentation: | Yes |
| Legal Review | No |
RECOMMENDATION
Staff recommends that the City Council conduct a public hearing and pass the proposed resolution to assess property owners for sidewalk, curb and gutter, drive approaches, and appurtenant construction costs for SID 2920 (work order 20-15).
BACKGROUND (Consistency with Adopted Plans and Policies, if applicable)
The Improvements constituting the Wicks Lane Improvements will be the curb/gutter, sidewalk, drive approach and appurtenant. SID No. 2920 (work order 20-15) has been completed by the Finance Department and is ready to spread on the 2022 tax roll.
ALTERNATIVES
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.
FISCAL EFFECTS
The total cost spread to the district is $395,264. Assessments range from $4,246 to $43,667 spread over a 12 year period, at an interest rate of 6%. The amount assessed per property is stated in the resolution.