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AI# 10649
Regular City Council Meeting
7.10.
04/26/2022:
Information
Agenda Item
Resolution - Finance:
Consider a resolution authorizing the Mayor to execute an Interlocal Agreement, between the City of Lubbock and the Lubbock Central Appraisal District, for the collection of assessments levied on property within the Willow Bend Villas Public Improvement District.
Item Summary
This agreement between the City of Lubbock and the Lubbock Central Appraisal District (LCAD), will allow LCAD to collect the assessments levied by the City Council on property in the Willow Bend Villas Public Improvement District (PID). The cost of collections will be deducted from the total annual Willow Bend Villas PID assessments that are collected, prior to the funds being forwarded to the City.
Fiscal Impact
The cost of the collection services will be an amount equal to the cost per parcel for all other cities and independent school districts as calculated in the AGREEMENT FOR ASSESSMENT AND COLLECTION OF TAXES between the City of Lubbock and LCAD, or one quarter (1/4) of one percent (1%) of the annual collection budget of LCAD, whichever is greater.
Staff/Board Recommending
Blu Kostelich, Chief Financial Officer
Attachments
Resolution Willow Bend Villas PID Interlocal Agreement
Willow Bend Villas Interlocal Agreement with LCAD
Exhibit A
Exhibit B
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