Item 8: An Ordinance Concerning Assessments for Street Improvements

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specially benefited by local improvements. Upon enactment of such an ordinance, the finance officer by first class mail shall give notice of the assessments to the owners of the assessed parcels. The notice shall state that each assessment may be paid in full, without interest, within ten days after the date of the assessment ordinance and that, if the assessment is not so paid, interest on the unpaid balance of the assessment will accrue as prescribed in the assessment ordinance until the assessment is paid, unless payment of the assessment is deferred in accordance with chapter 7 of this code[. under section 7.200]. The notice shall also state that the assessment may be paid in installments according to the terms set forth in the assessment ordinance, and shall include an application for so paying the assessment. (2) Unless otherwise specified by this code or by assessment ordinance, reference in this code to making assessment or lien payments in installments shall mean paying the obligation in up to 119 monthly installments or twenty (20) semi-annual installments including principal and interest at the rate set under section 2.022 of this code. (3) In addition to any deferral, extension or modification of payments authorized by this chapter, an assessment may be modified, compromised or canceled as provided in section 2.582 of this code. Section 6. Section 7.193 of the Eugene Code, 1971, is added to provide as follows: 7.193 Local Improvements – Deferral of Street Assessments. (1) To the extent a funding source is available from a public entity or any other source approved by the council at the time the project is initiated that will provide the city with sufficient funds to ensure no initial cost to the city or affected property owners for the construction of the local improvements, parcels with an owner occupied single family dwelling or an owner occupied duplex dwelling assessed for street improvements may defer payment of the assessment until sale or transfer of the parcel. (2) The deferred assessment shall become a lien on the property. The lien at a shall accrue interest from the date it is levied until the deferral ends variable rate to be adjusted annually to reflect the city’s costs in providing the funding source. When the deferral ends, payment of the assessment and accrued interest shall be made as provided in section 7.190 . (3) An assessment deferred pursuant to this section is not subject to the requirements and criteria set forth in section 7.195 – 7.220 of this code. (4) Property owners deferring payment pursuant to this section are not eligible to participate in the Improvement Assistant Program. (5) A deferral under this section shall terminate if: (a) The owner granted the deferral sells or transfers to any other party fee title or a possessory interest in the parcel to which the deferral pertains, except sales or transfers between persons related by blood, marriage or adoption; or, (b) Title to the parcel passes to another party by devise or intestate succession; or, (c) The owner granted the deferral ceases to occupy the dwelling. Ordinance - Page 11 of 13 Version A