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  F.2.       
Meeting Date: 09/17/2019  
Submitted For: Isom Cameron Contact: Donielle Suber, Assistant to the City Manager

COUNCIL ACTION
Motion by Mayor Pro Tem Moore with a second by Councilmember Marks to approve as presented. Motion passes 6-0.
AGENDA ITEM:
Conduct a Public Hearing and consider an Ordinance adopting the assessment rate for the Candle Meadow Public Improvement District (CMPID), the Five-Year Plan, a budget for FY 2019-2020, and levy a Special Assessment for 2019.
BACKGROUND:
The Public Improvement Assessment Act requires the City Council to hold a Public Hearing on the proposed budget of the Candle Meadow Public Improvement District (CMPID) and to adopt the budget by a favorable majority of all members of the City Council.
FINDINGS:
Attached is the five-year plan submitted by the Board of the Candle Meadow Homeowner's Association (HOA).  The FY 2019-2020 budget must be adopted along with the assessment rate, which will provide the CMPID with the funding needed to meet the adopted budget.  An assessment rate of 31.88 cents is proposed based on the proposed budget, 2019 taxable values, and the average collection rate for the CMPID.  All mailings, notices, and publications have been completed in accordance with the Public improvement Assessment Act. The next step is to conduct the Public Hearing and adopt the Five-Year Plan, the Operating Budget for FY 2019-2020, and the Assessment Rate for 2019.
FINANCIAL IMPACT:
The levy collected by this assessment fee will only impact the property owners of the Candle Meadow Public Improvement District.
RECOMMENDATION:
Staff recommends Council approve an Ordinance adopting the Five-Year Plan, the FY 2019-2020 Budget, and the 2019 Assessment Rate of 31.88 cents per $100 valuation.
MANAGEMENT REVIEW
Attachments
Ordinance
Candle Meadow Five-Year Budget Plan
Assessment Fee Calculation Sheet


    

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