Ordinance No. 19393 - Laserfiche WebLink

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14 days following the first publication of notice at which ob jec- tions to the improvement shall be heard by the counci 1 or the council's designee; and that if prior to the hearing there shall be presented to the finance officer written objections by more than vne half of the owners of property proposed to be assessed, based either vn percentage of area or on the percentage of assessed valuation within the proposed assessment and benefited area, then the improvement will be abandoned for at least one year. ~c} Benefited property, A statement that a description of the real property to be specially benef ~ ted by the improvement, the owners of the property and the city manager's estimate of the uni t cost for the improvement to be assessed against the property to be specially benefited and the total cost of the improvement to be paid for by special assessments to benefited properties is on file and subject to public inspection in the office of the finance officer. ~ d~ Private off-street arki ng facilities. Real property within the benef ted area on whi ch there ~s located an off-street parking facility operated as aprofit-making venture for the use of the general public, as distinguished from a parki ng 1ot awned or leased and operated primarily as a service and convenience for customers of a parti cut ar business, for whi ch a charge i s made to the public by the owner or operator thereof, shall not be deemed benefited by the proposed off-street parking faci 1 i ty improvement for which the hearing i s held. However, upon the subsequent change of use of the exempted property so that the same i s not used for an off-street parking faci 1 i ty operated as a profi t mak- i ng venture for the use of the general public, as distinguished from a parking lot awned or leased and operated primarily as a service and convenience for customers of a particular business, then the property may be assessed an equivalent assessment of its proportionate share of the cast of the off-street parking facili- ties in the manner provided in sections 7.504 and 7.545. ~e~ Equivalent assessments. Equivalent assessments on pre- viously exempt real property sha11 be the product of the square feet of the area previously exempt times the rate used to compute the on gi na1 assessments times the ratio of the remaining 1 i fe of the bands over the original life of the bond issue for a given district. Funds received from the new assessments shall be re- served by the city for the retirement of bonds issued to construct the parking facility where the equivalent assessment is being levied, ar the funds may be reserved far repayment of assessments paid in cash in the district where the equivalent assessment is levied, but in no event will the funds paid on the equivalent assessment be used to reduce the original assessments among the property owners in the district, 7.450 Off-Street Parking -Nearing; Council Decision. At the time of t e pu ~ c ears ng, or upon t e counc~ l s revs ew of the hearing record when the hearing is conducted by the council's designee, on the pro- posed improvement, i f the written objections shall represent less than the amount of real property required to defeat the proposed improvement, on the basis of the hearing of written and oral objections, i f any, the counci 1 may, Ordinance - 47