City Council Meeting


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  F.4.       
Meeting Date: 09/03/2019  
Submitted For: Isom Cameron Contact: Donielle Suber, Assistant to the City Manager

COUNCIL ACTION
AGENDA ITEM:
Conduct a Public Hearing and consider an Ordinance adopting the assessment rate for the Stillwater Canyon Public Improvement District (SCPID), 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 Stillwater Canyon Public Improvement District (SCPID) and to adopt the budget by a favorable majority of all members of City Council.
FINDINGS:
Attached is the five-year plan submitted by the Board of the Stillwater Canyon Homeowner's Association (HOA).  The FY 2019-2020 budget should be adopted along with the assessment rate, which will give the SCPID the funding needed to meet the adopted budget.  An assessment rate of 17.67 cents is estimated to be adequate based on the average collection rate that for the SCPID.  All mailings, notices and publications have been completed in accordance with the applicable laws.  The next step is to hold 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 Stillwater Canyon 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 17.67 cents per $100 valuation.
MANAGEMENT REVIEW
Attachments
Ordinance
Stillwater Canyon Five-Year Budget Plan
Assessment Fee Calculation Sheet


    

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