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AI-6297 New Business     G.       
City Manager  
Meeting Date: 04/22/2019  
Carriage Trails - Special Assessments Agreement - 2019 New Phases - Ordinance To Proceed
Submitted By: Jason Foster
Department: Economic Development  
Council Committee Review?: Council Work Session
Date(s) of Committee Review: 04/16/2019
Audio-Visual Needs: None
Emergency Legislation?: No
Resolution No.:
Passed to 2nd Reading

Agenda Item Description or Legislation Title
An Ordinance Determining To Proceed With The Improvement Of Public Streets And Easements In Section 6 - Phases 1, 2, 3, And 4 And Section 8 - Phase 7 By Constructing And Installing On Certain Property Within The City Street Improvements, Including Subbase, Concrete Curb/Gutter With Drainage, Asphalt, Street Lights And Signs, Along With All Necessary Appurtenances.
(first reading)
Purpose and Background
DEC Land Co. has petitioned the City to install certain roads within new subdivisions of Carriage Trails and asked to have the costs associated with these improvements be assessed against the individual lots created.  DEC anticipates creating 131 lots in five different sections and phases (Sections 6-1, 6-2, 6-3, 6-4, and 8-7) in 2019.  The total assessment is estimated to be $1,048,000 to be repaid by annual assessments, per the petition, against the 131 lots for a total of 25 years.  The City shall pay for a portion of the improvements as set forth in the Petition and will recover these costs from the assessments. 

Fiscal Impact
Source of Funds: Special Assessments
Cost: $1,048,000
Recurring Cost? (Yes/No): No
Funds Available in Current Budget? (Yes/No): No
Financial Implications:


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