Ordinance No. 20453 - Laserfiche WebLink

Home Browse Search

Ms Cahill described the project as including the installation of 24 feet of paving improvements on the streets, as well as sidewalks and the associated curbs and gutters and street lights. At the request of property owners along Maple Street, parking bays were installed. Instead of installing bike lanes, the sidewalk is slightly larger than the standard size. Signs have also been installed directing bikers to the nearby bike path. Principal Engineer Cahill also described the method of determining the assessments. The cost of the improvements was divided between the portion that the City would pay and the portion to be assessed to the property owners. After this division was made, the costs for each property owner were divided according to the directions of the Eugene Code. Also in accord with the instructions of the Code, residentially zoned and developed properties with greater than 100 feet of frontage along the street were subject to a delayed assessment, where that part of the frontage greater than 100 feet was not assessed, and would not be assessed until such time as the property was - divided or otherwise further developed. ' Ms Cahill also described the City program for low income subsidies, which 48 property owners applied for and appear to be qualified for at this time. The proposed final unit costs are much lower than was originally projected. For the assessed ten feet of street for each property, the cost was $72 per foot, down from a projected unit cost of $104 at the time the LID was formed. The costs for sidewalks and drive aprons was also reduced. The only attendee to speak was Mr. Ron Johnson. Mr. Johnson had begun his remarks and questions before the hearing commenced. Prior to the hearing Mr. Johnson had begun by asking if his assessment included the portion of his property that was occupied by utility boxes. Ms. Cahill and Mr. Bonham checked the maps and assessment records and confirmed that the property where the utility pole was located was on the deed records as being part of Mr. Johnson's property and was therefore being assessed. Mr. Johnson also expressed his personal difficulties in paying the assessment at this time. He indicated that he was a construction contractor and, like other general contractors, had been hard hit by the recession. Ms. Cahill discussed the possible payment options with Mr. Johnson. The Hearings official asked if Mr. Johnson might qualify for any of the low income subsidies. It turned out that the property did not qualify because it was not owner occupied, since Mr. Johnson had purchased the house for his daughter and son -in -law to live in. Mr. Johnson is not a resident of Eugene. There was a discussion of the interest rate for financing the project. Mr. Johnson expressed his concern about the eight percent interest rate described in the financing information. Ms. Cahill clarified the situation. Eight percent was previously identified as the interim rate, charged until the time that the City is able to sell bonds and set a final rate. In June the City Council agreed to the interim rate being indexed closer to market so we anticipate it will be lower for these proposed assessments. The final rate is usually lower than the interim rate. The City cannot quote the final rate because it is the rate fixed by the sale of bonds, which does not happen until after the assessments are made.