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<br /> : <br /> 10TH AND OAK ASSESSMENT DISTRICT--ADJUSTMENT OF ASSESSMENTS <br /> November ZZ, 19Bb <br /> e Page 2 <br /> Staff followed the council IS intent as expressed in Resolution #3868 in the <br /> negotiation process. The tentative settlement involves the distribution of <br /> remaining funds as part of an overall adjustment of the original 10th and Oak <br /> assessment adjustments as outlined in the Code and have been followed in <br /> bringing this matter before the council. <br /> Adjustment of Assessments <br /> The proposed adjustment of the 10th and Oak Overpark assessment levied against <br /> that individual account. In total the proposed assessment is $652,869.38. <br /> The proposed reduction in the assessment will, after the previous application <br /> of the rebates, place all original assessment accounts in the position of <br /> having provided more in principal than is required to satisfy the adjusted <br /> assessment. Procedures developed by staff as part of the tentative settle- <br /> ment establish that the parties entitled to the return of this overpayment of <br /> principal will be the same parties who are entitled to any cash refund related <br /> to the application of the rebates. This return of any overpayrnent of princi- <br /> pal is in addition to any entitlement to cash related to the rebates as estab- <br /> lished by Ordinance #19253 and the procedures filed as part of the litigation. <br /> Attached under separate cover is a staff report which details the history of <br /> the 10th and Oak Overpark assessments and the determination of the amounts <br /> e of the proposed adjustments and the persons entitled to any resultant overpay- <br /> rnent of principal. Also attached under separate cover is the report of the <br /> hearings officer related to the administrative hearing held on the matter on <br /> November 14, 1985, and copies of the written objections to the adjustment as <br /> received by the City with staff's response. <br /> Staff recommends that, in order to meet the terms of the tentative settlernent, <br /> council approve the adjustment of the 10th and Oak original assessrnents as <br /> proposed. <br /> CAJ:pm/1043BD <br /> Attachments <br /> e <br />