Posting Language
Title
Conduct a public hearing and consider an ordinance setting the assessment rate and approving the 2025 assessment roll for the East Sixth Street Public Improvement District. Related to Item #122.
De
Lead Department
Economic Development.
Fiscal Note
This item has no fiscal impact.
Prior Council Action:
August 8, 2019 - Council approved Resolution No. 20190808-094, reauthorizing the East Sixth Street Public Improvement District (PID).
June 1, 2023 -Council approved Ordinance No. 20230601-008, setting the assessment rate and approving the proposed 2024 assessment roll for the PID.
August 31, 2023 -Council approved Ordinance No. 20230831-014, adopting the PID Service and Assessment Plan and Budget update for 2024.
May 30, 2024 - Council approved Ordinance No. 20240530-015, setting the calendar year 2025 rate of assessment and proposed calendar year 2025 assessment roll for the PID.
For More Information:
Sylnovia Holt-Rabb, Director, Economic Development Department, 512-974-3131; Donald Jackson, Economic Development Department, 512-974-2214.
Additional Backup Information:
On May 30, 2024, Council approved the Ordinance setting the 2025 assessment rate for the PID (at a rate of $0.10 per $100 valuation) and approved the proposed 2025 assessment roll (list of property owners subject to assessment). The assessments paid by the property owners fund the PID services.
State law requires Council to conduct a public hearing to consider the levy of assessments for the proposed improvements. The approval of the assessment rate and proposed roll, on May 30, 2024, triggered notices being sent to affected property owners, giving them opportunity to review the property valuations prior to the public hearing. Property owners have a statutory right to challenge the assessment placed on their property at the public hearing. The levy, subject to public inspection and comment at the public hearing is on the 2025 assessment roll. The property roll does not include properties within the PID boundaries that are exempt from assessment or have zero value.
Council is also considering a related Item 24-4931, the approval of the PID’s 2025 Service and Assessment Plan and Budget with assessment values.