Fiscal Note
Adoption of this resolution will provide a 15 year payback period for assessments. There is no substantial cost to the City associated with this action.
Title
Approving a 15 year payback period for Turner Avenue, Allis Avenue and Maher St Assessment District - 2016.
Body
WHEREAS, the Common Council adopted resolution RES-16-00108, ID No. 41420 on 2/2/16 establishing the Turner Avenue, Allis Avenue and Maher St Assessment District - 2016;
WHEREAS, the Common Council adopted resolution RES-16-00188, ID No. 41898 on 3/15/16 approving the Schedule of Assessments for Turner Avenue, Allis Avenue and Maher St Assessment District - 2016 with a 8 year payback period;
WHEREAS, past projects of similar scope have been allowed 15 year payback periods.
NOW, THEREFORE, BE IT RESOLVED that RES-16-00188, ID No. 41898, is amended to allow the collection of special assessments in fifteen (15) annual installments rather than eight (8) annual installments.