Posting Language
Title
Approve an ordinance setting the assessment rate and approving a proposed 2020 assessment roll for the East Sixth Street Public Improvement District. Related to Item #101.
De
Lead Department
Economic Development.
Fiscal Note
The 2020 assessment rate of $0.19/$100 valuation is estimated to produce $93,223 at a 90% collection rate.
Prior Council Action:
August 7, 2014 - City Council approved Resolution No. 20140807-174 authorizing the East Sixth Street Public Improvement District (PID).
For More Information:
Rebecca Giello, Interim Director, EDD, 512-974-3045, Nicole Klepadlo, Redevelopment Project Manager - EDD, 512-974-7739.
Additional Backup Information:
This action will approve the proposed East Sixth Street Public Improvement District (PID) assessment rate and proposed assessment roll for 2020. State law requires City Council approval of a proposed roll. Approval of the proposed assessment roll is necessary so that notices may be sent to the property owners, giving them an opportunity to review the property valuations prior to the public hearing, which Council will consider setting on August 8, 2019 under related Item #19-1839. All previously approved exemptions and exclusions from assessments are retained in this year's roll. Council requested that this assessment process be timed so that it coincides with the receipt of other real property tax bills.
A related item sets a public hearing on August 8, 2019 to consider the 2020 certified assessments for the PID. State law requires a public hearing by the City Council to consider the certified assessments. Each property owner has a right to appear at the hearing. The certified assessment value will be available after August 1, 2019. The PID comprises 116 properties lining East 6th Street from I-35 to Congress Avenue. The PID was created by City Council in 2004.