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Home My WebLink About1999-08-24 - AGENDA REPORTS - VERMONT DRIVE IMPROV (2)CITY OF SANTA CLARITA AGENDA REPORT CONSENT CALENDAR DATE: August 24, 1999 City Manager Approval: 401-1� Item to be presented by: C ristopher C. Price SUBJECT: ASSESSMENT DISTRICT NO. 99-1 (VERMONT DRIVE/EVERETT DRIVE IMPROVEMENTS) RESOLUTION NO. 99-146 DEPARTMENT: Transportation & Engineering Services RECOMMENDED ACTION City Council adopt Resolution No. 99-146, determining unpaid assessments for Assessment District No. 99-1 (Vermont Drive/Everett Drive Improvements). BACKGROUND On March 9, 1999, the property owners in the vicinity of Vermont Drive and Everett Drive, south of Lyons Avenue, approved Assessment District No. 99-1 by a majority vote. By approving the district, the residents directed the City to sell bonds and levy assessments for the purpose of improving Everett Drive, south of Powell Drive, with a public road, storm drain, and sewer improvements. Currently, the project is in the final stages of design and is scheduled to go out to bid in the coming months. The owners of the parcels required for the project construction easements have deeded their portion of the road and/or sewer easements to the City. It is now time to prepare to sell bonds to fund the project. Prior to determining the final amount to bond, the property owners within the district are given the opportunity to pay their assessments in part or in full in order to save them the costs associated with the bonding process. A 30 -day cash payment period is required for the formation of this type of assessment district. The property owners are not required to pay at this time. A complete notice of this payment period was delivered to all property owners by registered mail prior to June 30, 1999. At the end of the payment period, eight residents paid a total of $45,178.00 toward their net assessments. The dedication of the easements for the new streets and utilities was valued at $609,686.00 for bonding purposes. The final assessment amount determines the sum that must be generated by the sale of bonds. Subtracting the two figures above from the original assessment total leaves $909,187.00 remaining to be generated by bond sales (the City's $400,000.00 contribution is considered separately). The individual remaining assessment amounts will now be placed on each respective parcel in the district as a lien against the property. That final amount will be equal to or less than the figure stated in the final Engineer's Report approved by the City Council on May 11, 1999. Adopted: ff -,2-4-,O AAonda Item: /O ASSESSMENT DISTRICT NO. 99-1 (VERMONT DRIVE/EVERETT DRIVE) CONFIRMING ASSESSMENTS August 24, 1999 - Page 2 ALTERNATIVE ACTIONS 1. Postpone the resolution determining unpaid assessments. This action could cause a delay in the construction of the project. 2. Other action as determined by the City Council. FISCAL IMPACT The City Council committed $400,000.00 to assist in the formation of the district and the construction of the project. Costs in addition to this amount will be borne by the district. Resolution No. 99-146 Exhibit "A!'— List of Unpaid Assessments Engineer's Report (available in City Clerk's Reading File) CCP:tw council\re99-146.doc EXHIBIT "A" ASSESSMENT DISTRICT NO. 99-1 VERMONT DRIVE/EVERETT DRIVE UNPAID ASSESSMENTS Assessor's No. Remaining Assesament 2829020025 $70,355.00 2829020033 20,218.00 2829020021 16,692.00 2829020020 0.00 2829016009 16,603.00 2829016008 14,952.00 2829016051 13,808.00 2829016050 16,257.00 2829016005 7,708.00 2829016004 7,708.00 2829016003 7,708.00 2829016002 7,708.00 2829016047 7,708.00 2829015053 12,750.00 2829015049 16,183.00 2929015032 29,665.00 2829015033 16,183.00 2829015034 16,183.00 2829015035 16,183.00 2829015036 16,183.00 2829015043 23,470.00 2829020010 0.00 2829020011 16,206.00 2829020012 16,959.00 2829020013 17,318.00 2829020014 16,675.00 2829020015 32,381.00 2829020031 22,878.00 2829019023 14,188.00 2829019031 17,998.00 2829018007 10,691.00 2829018008 24,173.00 2829018009 10,691.00 2829029036 11,261.00 2829029056 14,070.00 2829029055 30,019.00 2829018002 10,691.00 2829018003 10,691.00 2829018004 10,691.00 Assessor's No. Remaining Assessment 2829018021 12,487.00 2829029042 898.00 2829029041 898.00 2829029043 898.00 2829029044 4,150.00 2829029046 4,251.00 2829029052 898.00 2829029053 898.00 2829029064 898.00 2829030052 898.00 2829030053 898.00 2829030054 898.00 2829030055 3,692.00 2829030056 4,091.00 2829030057 5,497.00 2829030058 4,162.00 2829030059 0.00 2829030062 4,426.00 2829030061 2,312.00 2829030060 3,525.00 2829030063 2,759.00 2829030064 2,405.00 2829030065 1,980.00 2829030066 2,215.00 2829030076 898.00 2829030077 2,778.00 2829030091 4,628.00 2829030092 4,628.00 2829030078 2,103.00 2829030079 898.00 2829030080 898.00 2829030082 2,222.00 2829030083 898.00 2829030072 2,278.00 2829030071 2,192.00 2829030067 898.00 2829030068 898.00 2829030069 898.00 2829030070 898.00 2829030081 924.00 2829030084 755.00 2829030085 2,540.00 2829030087 1,495.00 2829030086 4,143.00 2829029063 3,680.00 Assessor's No. Remaining Assessment 2829029062 2,830.00 2829029061 3,509.00 2829029060 3,311.00 2829029059 2,412.00 2820029058 898.00 2829029057 898.00 2829019021 3,407.00 2829019019 3,258.00 2829019017 2,923.00 2829019015 2,882.00 2829019013 2,699.00 2829027018 2,911.00 2829027016 3,251.00 2829027015 3,337.00 2829027014 3,624.00 2829027012 4,034.00 2829028023 5,526.00 2829028026 6,179.00 2829028009 2,051.00 2829028010 4,252.00 2829028011 2,592.00 2829028012 1,487.00 2829028020 2,360.00 2829028021 1,819.00 2829028022 3,739.00 2829028025 5,085.00 2829027006 1,341.00 2829027007 2,013.00 2829027008 2,065.00 2829027009 4,077.00 2829027010 3,951.00 2829027011 4,092.00 2829027013 3,298.00 2829027017 3,101.00 2829027019 2,683.00 2829019014 3,026.00 2829019016 2,817.00 2829019018 2,966.00 2829019020 3,108.00 2829019022 3,157.00 2829019030 11,695.00 2829019003 2,090.00 2829019004 2,206.00 2829019009 2,895.00 2829019010 2,843.00 Assessor's No. Remaining Assessment 2829019012 2,898.00 2829027002 2,338.00 2829027001 2,499.00 2829019011 2,633.00 2829019007 2,678.00 2829019008 3,062.00 2829019006 1,293.00 2829018001 1,795.00 2829020032 10,691.00 $923,975.00 wuncil\exhibite.dm