CITY OF HOMER

City Clerk

HOMER, ALASKA

RESOLUTION 04-74

A RESOLUTION OF THE CITY COUNCIL NOTING THE INSUFFICIENCY OF THE EAST END ROAD WATER AND SEWER LOCAL IMPROVEMENT DISTRICT(LID), AUTHORIZING THE DEFERRED ASSESSMENT METHODOLOGY FOR REIMBURSEMENT OF WATER AND SEWER IMPROVEMENTS AND AUTHORIZING THE CITY MANAGER TO PROCEED WITH THE DEFERRED ASSESSMENT PROCESS.

WHEREAS, The City Council discussed Memorandum 04-09(S) during their Regular Meeting of January 12, 2004 an gave direction to the City Manager; and

WHEREAS, Memorandum 04-09(S) outlined the cost to property owners for an assessment district as compared to a deferred assessment; and

WHEREAS, Public Works sent letters to affected property owners advising them of the differences in an assessment and a deferred assessment, and conducted a neighborhood meeting; and

WHEREAS, The City Council adopted Resolution 04-42(A) during their Regular Meeting of May 10, 2004, authorizing the Local Improvement District petitioning process; and

WHEREAS, The petition process was conducted pursuant to Homer City Code (HCC)17.04.030.

NOW, THEREFORE, BE IT RESOLVED by the City Council hereby notes the insufficiency of the East End Road Water and Sewer LID, hereby authorizes the Deferred Assessment Methodology for Reimbursement of Water and Sewer Improvements and hereby authorizes the City Manager to proceed with the Deferred Assessment Process.

PASSED AND ADOPTED by the City Council of Homer, Alaska this 23rd day of August, 2004.

CITY OF HOMER

_______________________

JACK CUSHING, MAYOR

ATTEST:

____________________________________

MARY L. CALHOUN, CMC, CITY CLERK

Fiscal Note: LID assessments pursuant to Memorandum 04-09(S):

Sewer - Total cost estimated is $303,911.79; 75% = $227,933.84; would be assessed against each of 11 parcels = $20,721.26, twenty year payment plan at 2.5% interest.

Water- Total cost estimated is $334,719.27; 75% = $251,039.45 would be assessed against each of 16 parcels = $15,689.97, twenty year payment plan at 2.5% interest.

Deferred Assessments pursuant to Memorandum 04-09(S):

100% deferred sewer assessments are placed on the properties, it would result in a $27,628.33 assessment per parcel.

100% deferred water assessments are the placed on properties, it would result in a $20,919.95 assessment per parcel.