Title
REVIEW BEECH STREET LID ASSESSMENT METHODOLOGY
COUNCIL INITIATIVE ADDRESSED:
Improve transportation systems
CITY ATTORNEY REVIEW: N/A
SUMMARY STATEMENT:
WRSCO, Inc., a property owner located at 645 California Way, submitted a request for the City to form a Local Improvement District (LID) to fund construction of Beech St. from 14th Ave. to California Way. The new roadway proposed to be built is approximately ½-mile long and would provide local access to this area. A LID is a mechanism allowed by state law to fund public improvements by collecting assessments from the owners of property that receive a defined benefit from the improvements. On January 25, 2018, after review the results of a special benefit assessment study, the City Council directed staff to prepare a formal LID petition for WRSCO to circulate for property owner signature.
The formal LID petition will include an estimated preliminary assessment per parcel. During the January 25, 2018 city council meeting, questions were raised about the assessments recommended by the special benefit assessment study. This workshop will present information and provide an opportunity to discuss the study and methodology used to recommend the LID boundary and individual parcel assessments. A representative from Valbridge Property Advisors will attend to answer and discuss any questions regarding their special benefit assessment study.
RECOMMENDED ACTION:
Review and discuss the special benefit study and proposed LID assessments.
STAFF CONTACT:
Samuel Barham, Engineer
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