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Regular City Council Meeting
Ordinance 2nd Reading - Business Development:
Consider Ordinance No. 2021-O0152, reviewing classifications for the methods of assessing special benefits for the services and improvements of property in the Northwest Passage PID; approving, adopting, and filing with the City Secretary the assessment roll; levying 2022 assessments for the cost of certain services and improvements to be provided in the district during FY 2022-23; fixing charges and liens against the property in the district and against the owners thereof; and providing for the collection of the assessment.
On October 26, 2021, a public hearing was held, and the City Council approved the first reading of the ordinance.
The purpose of the public hearing is to provide the opportunity for property owners in the Northwest Passage PID to speak in favor of, or in opposition to, the assessment to be levied in the Northwest Passage PID for 2022. The City of Lubbock is required to hold a public hearing annually to levy the assessment. A notice of public hearing was published in the Lubbock Avalanche Journal, and notices were mailed to the property owners on Tuesday, October 12, 2021, as required by the statute. At or on the adjournment of the hearing on proposed assessments, the governing body of the municipality must hear and pass on any objections to the proposed assessment.
The proposed assessment for the first year is for tax year 2022 which will fund the budget for FY 2022-23. The total estimated cost of services provided by the District is estimated at $516,836 over the next five years. The estimated annual cost rises from $9,000 in the first year to $479,742 in year five. The method of assessment for the Northwest Passage PID will be based on taxable value. The proposed assessment rate for 2022 is $0.15 per $100 valuation. All property will be assessed for 2022.
The funds raised by the assessment will be used to provide design, construction and maintenance of parks and green space, along with any ancillary features or amenities including water features, lighting, signage, the repair and replacement of said amenities, and any other maintenance needed on projects in the District, as well as cover the costs of administering the PID.
The estimated assessment that will be collected for 2022, based on projected values, is $7,503.
Jesica McEachern, Assistant City Manager
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