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Public Hearing Respread SID 1410
Staff recommends that the City Council conduct a public hearing and pass the proposed resolution that spreads final assessments for SID 1410.
BACKGROUND (Consistency with Adopted Plans and Policies, if applicable)
The assessments for SID 1410 have been completed by the Finance Division and are ready to spread on the tax rolls. SID 1410 was originally spread based on estimated costs and is now being re-spread based on the completed construction cost. This project constructs and installs streetlights within Annafeld Subdivision, 2nd filing and Annafeld Park Trail improvements. The construction contract was awarded at the 6/22/2020 City Council meeting, and bonds were sold.
City Council may:
Not Approve, The property owners will not be assessed, and the General Fund will be responsible for paying for the improvements.
The actual cost of construction was approximately $37,000 less than the original estimates that were spread to the district. The reduction is being proportionately re-spread to the district, resulting in an average reduction in assessment of $525 per property. The amount assessed per property for the remaining 14 years is stated in the resolution.
Resolution Respread SID 1410
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