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    7. 10.    
Regular City Council Meeting
Meeting Date: 12/03/2019  

Information
Agenda Item
Ordinance 2nd Reading - Business Development: Consider Ordinance No. 2019-O0167, reviewing classifications for the methods of assessing special benefits for the services and improvements of property in the Upland Crossing Public Improvement District (PID); approving, adopting, and filing with the City Secretary the assessment roll; levying 2020 assessments for the cost of certain services and improvements to be provided in the district during FY 2020-21; 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
The proposed assessment for the first year is for tax year 2020 which will fund the budget for FY 2020-21.  The total estimated cost of services provided by the District is estimated at $156,995 over the next five years.  The estimated annual cost rises from $1,080 in the first year to $71,590 in year five (5).  The District shall not incur bonded indebtedness. The method assessment for the Upland Crossing PID will be based on taxable value. The proposed assessment rate for 2020 is $0.15 per $100 valuation.  All property will be assessed for 2020.
Fiscal Impact
The funds raised by the assessment will be used to provide landscape maintenance on the entry ways and parks, repair and replace amenities, enhance and maintain amenities at the entry stations, lighting, and any other maintenance needed on projects in the District, as well as cover the costs of administering the PID. The estimated assessment that will be collected for 2020, based on projected values, is $1,080.
Staff/Board Recommending
 Jesica McEachern, Assistant City Manager

Attachments
Public Hearing Notice
Ordinance

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