Ordinance No. 20469 - Laserfiche WebLink

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upon the greater of the amount of credit given by the city or the cost of constructing a similar street improvement at the time of the formation of the local improvement district. If a property has been given an equivalent assessment under subsection 7.407(1) it may not be assessed again for the same street improvements. (3) Except as otherwise provided in subsection 7.180(5)(fl, equivalent assessments required by subsection 7.180(5) shall be paid at the time of development by the person who receives a permit to develop the parcel as described in subsection 7.180(5)(e). The equivalent assessment shall be calculated by the city engineer in accordance with section 7.180(5), if applicable, and the engineer's estimate of what the costs of the improvement would be if the improvement were constructed at the time of the development giving rise to the obligation to pay the equivalent assessment. (4) In lieu of paying the equivalent assessment at the time of issuance of the curb cut permit or upon the occurrence of one of the events described in subsection 7.180(5)(e), except where the development involves creation of a subdivision, the person obligated to pay the equivalent assessment may execute and deliver to the finance officer an agreement to pay the equivalent assessment in installments. The finance officer may accept an agreement to pay only if it is consistent with the limits established under subsection 7.160(2) and (3). Equivalent assessments paid as provided in this subsection shall be charged interest on the unpaid principal balance as provided in section 2.022 of this code and are hereby declared a lien against the real property and shall be docketed in the lien docket of the city and may be foreclosed in the same manner as other assessment liens. (5) The equivalent assessment required by this section shall be used for street purposes and shall be in addition to all other fees and assessments required by this code. Section A. The Code references in subsections 6.610(4), 7.155(1) and 7.160(9) of the Eugene Code, 1 971, are amended to reflect the amendments to Section 7.175 and the addition of Section 7.180 adopted by this Ordinance. Section 9. The City Recorder, at the request of, or with the consent of the City Attorney, is authorized to administratively correct any reference errors contained herein, or in other provisions of the Eugene Code, 1971, to the provisions added, amended or repealed herein. Section 10. Sections 37, 38 and 39 of the Eugene charter of 2002 require that procedures for making, altering, vacating or abandoning a public improvement, and the procedures for levying, collecting and enforcing the payment of special assessments for public improvements be regulated by general ordinance; that any ordinance amending those procedures not take effect for a period of six months after the date of adoption, and then only if Ordinance - Page 9 of 10