Fiscal Note
No funds required.
Title
Declaring the City of Madison's intention to exercise its police powers establishing the Felland Road Water Main Assessment District - 2020. (3rd AD)
Body
BE IT HEREBY RESOLVED:
1. That the Common Council of the City of Madison hereby establishes an assessment district known as the Felland Road Water Main Assessment District - 2020, to serve Felland Road from Lien Road to Bridle Way, all in accordance with Section 66.0701 of the Wisconsin State Statutes and Section 4.09 and 13.19 of the Madison General Ordinances.
2. That the contemplated purposes of this assessment district is to install new water main that provides fire protection and access to City water service. The project has multiple objectives and components including general hydraulic and street improvements that will not be assessed. Only main providing future water service connections and current fire protection will be assessed.
3. That the benefited properties are located in the both the City and the Town of Burke. Properties in the City shall have the opportunity to pay the special assessments which may be levied as a result of this assessment district in eight (8) annual installments, subject to the current interest rate in effect at the time of establishment of the special assessment. Under the terms of the City’s Cooperative Plan with Burke, benefitted properties located in Burke shall have assessments deferred until attachment to the City, which, by the terms of the Plan, could be as late as 2036. The City does not collect interest during the deferral period, rather the amount due is indexed to the Consumer Cost Index. Burke property owners requesting water service before 2036 would be required to enter into deferred attachment agreement. Under the agreement, they would agree to pay the assessment fee within eight (8) years, at which point they would automatically attach to the City.
4. That the Madison Water Utility Chief Engineer and Assistant General Manager is hereby directed to prepare a report consisting of preliminary or final plans and specifications; an estimate of the entire cost of the proposed work or improvements within the assessment district; a schedule of proposed assessments, constituting an exercise of police power of the City of Madison; and a statement that the property against which the assessments are proposed is benefited.
5. That upon completion of this aforesaid report, the Madison Water Utility Chief Engineer and Assistant General Manager shall proceed in accordance with Sections 4.09 and 13.19 of the Madison General Ordinances.