ADOPT RESOLUTION EMRCFD RES 2022-149 APPROVING THE MODIFICATION OF ASSESSMENTS IN ASSESSMENT NUMBER 005-03-177 WITHIN THE MONTECITO ASSESSMENT DISTRICT NO. 2. (Jared Askelson, Deputy Director of Finance)

Fiscal Impact: This action reallocates the original assessment amount of $1,323,677.10 in Assessment Number 005-03-177 with no additional impact.  The assessment will be allocated across 67 lots in the amount of $5,805.61 per lot.  The remaining $934,701.23 will be allocated in total to the remaining property within the assessment district.

Approval of the assessment modification will assign new assessment numbers and amounts as follows:

Original Assessment Number	Original Assessment Amount
005-03-177	$1,323,677.10

 

New Assessment Numbers	New Assessment Amounts
005-04-001 through 005-04-067	$5,805.61 per lot
005-04-068	$934,701.23

The final plat for Estrella Parcel 9.28 portions the land covered by assessment number 005-03-177, was approved by the City Council on August 23, 2021.  Other assessments within the Montecito Assessment District No. 2 have been similarly modified upon the subdivision of land securing the assessment.  This action was initiated by the application and petition for modification filed by Estrella North, LLC, the owner of all land subject to assessment 005-03-177.

District staff has reviewed the proposed modification of assessment number 005-03-177 and found that it is in compliance with State of Arizona law and the City of Goodyear’s Policy Guidelines and Application Procedures for Community Facilities Districts.