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AI# 11845  Regular City Council Meeting 5.9. 09/12/2023:

Information

Agenda Item

Ordinance 2nd Reading - Finance: Consider Ordinance No. 2023-O0098, reviewing classifications for the methods of assessing special benefits for the services and improvements of property in the North Overton PID; approving, adopting, and filing with the City Secretary the assessment roll; levying 2023 assessments for the cost of certain services and improvements to be provided in the district during FY 2023-24; fixing charges and liens against the property in the district and against the owners thereof; and providing for the collection of the assessment.

Item Summary

On August 22, 2023, 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 North Overton PID to speak in favor of, or in opposition to, the assessment to be levied in the North Overton PID for 2023. 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 by Thursday, August 10, 2023, as required by statute.  At or on the adjournment of the hearing on proposed assessments, the governing body of the municipality must hear and pass on any objection to the proposed assessment.  The proposed assessment rate for 2023 is $0.18 per $100 valuation. This is the same rate as 2022.  All property zoned commercial and high-density residential under the City of Lubbock Zoning Ordinance, will be assessed for 2023. All property zoned single-family and two-family, will be assessed on a block-by-block basis as public improvements that will be maintained by PID funds are completed in that block.   The City Council is required to review the Service Plan annually, hold a public hearing, and adopt an ordinance setting the assessment rate for the PID.  The attached ordinance reflects the proposed rate of $0.18 per $100 valuation.  The revised service plan is included in the backup.  Exhibit C is available for viewing in the Office of the City Secretary.

Fiscal Impact

The assessments are deposited into a separate North Overton PID fund. The funds raised by the assessment will be used to provide landscape maintenance, street and pedestrian lighting, and any other maintenance needed on projects in the District, as well as cover a portion of the costs of administering the PID. The projected assessment that will be collected for 2023, based on preliminary values, is $959,076.

Staff/Board Recommending

D. Blu Kostelich, Chief Financial Officer

Attachments Ordinance and Exhibits North Overton PID Public Hearing Notice 2023

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