Ordinance No. 19962 - Laserfiche WebLink

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March 21, 1994 Public Hearing Minut~s - Job #2813 Page 3 of 3 completion. Included in this assessment will be the City's engineering and financing costs. The City uses short-term financing to pay for the selVices of the City and the contractor. Property owners who are assessed may take advantage of long-term financing that is provided. The City is obligated by law to provide ten-year financing to property owners regardless to the latter's income or financial status. Other deferral programs may also be available. For instance, one may defer the difference between a 28- and 36-foot wide street until the vacant property is developed. There is one property affected by this projec~ the Kruger property located at the southwest comer of the project, that is long and narrow and has a considerable amount of frontage but is only about 160 feet in width. A sanitary trunk: sewer also abuts this property on its west boundary. This creates a difficult situation in regard to future development of the property. The amount of assessment that the City would be potentially levying against the property at this time would likely equal or surpass the value of the property itself. The staff recommends to the Hearings Official that the property be assessed in the following fashion: the first 425 feet of the property's frontage be considered developed residential so the property owner would pay 20-foot wide street equivalent for this portion of the property. The balance of frontage would be deferred for a 36-foot equivalent width until development of the property. Staff feels this is a fair proposal given the constraints of property and the concern that the placement of a major debt against the property would prevent it from ever being sold for other purposes. This deferral would represent a lien against the property but that lien would not come due until the property was developed or subdivided. In summary, the City Engineer recommended that, with the exception of the Kruger property, the rest of the project limits be assessed per the previously explained guidelines provided by Chapter 7 of the Code and that the project proceed into the design phase. If the project does proceed into the design phase, Mr. Lyle noted that staff will be contacting property owners regarding any special conditions that should be taken into account such as potential access points. The Hearings Official then called on members of the public to offer their comments or ask questions regarding the project. Mr. Bob Bounds, one of the property owners subject to assessment for the proposed project, stated that he had no objection to the street although like many of the other property owners he did not have a lot of money with which to pay the assessment Mr. Lyle noted that the project was somewhat unusual in the sense that it affected only six properties that each have a large frontage. He reiterated the availability of ten-year financing and the ability to defer the difference between the 28- and 36-foot equivalent assessment and indicated that other deferrals might be available if Mr. Bounds met age and income criteria Mr. Bounds requested that future information sent out by the City on this project also be sent to his address at 5711 Royal Avenue. Mr. Allen Haynes, the only other member of the public in attendance, had no statement to make or questions to ask. Receiving no further comments, the Hearing Official closed the public hearing at 6:23 p.m. Respectfully submitted, 2- ~ __-::7 /' (/ . ~>-,.. <-- ': .,. _ 'dt'/i(c Gary X. Darnielle ~ Hea-fings Official /