Title
Transportation Department recommending Resolution calling for a mailed ballot election to be set for May 8, 2007 for the establishment of a special tax to provide road maintenance and improvement services and drainage facility maintenance services for Many Oaks Lane Zone of Benefit 98132 within County Service Area 9.
RECOMMENDED ACTION: Adopt Resolution 021-2007.
FUNDING: County Service Area 9.
Body
Budget Summary
Total Estimated Cost $ 630.00
Funding
Budgeted $ 630.00
Total Funding Available $ 630.00
Change To Net County Cost $ 0.00
Fiscal Impact/Change to Net County Cost:
The estimated cost of the election is $630.00. All costs associated with the election will be funded from the Many Oaks Lane Zone of Benefit assessments or special tax.
A total of 97 parcels within the zone are currently assessed $125.00 annually, generating $12,125.00 in revenue to fund road improvement and maintenance services on 3.89 miles of roads within the zone. If the proposed measure is approved, the current benefit assessment will be replaced with a special tax, the amount of which will be implemented in phases; the special tax amount will be $225.00 per parcel for fiscal year 2007/2008, and adjusted to $300.00 per parcel for fiscal year 2008/2009 with annual adjustments thereafter tied to the Engineering News Report Construction Index. The phased increase in the special tax is proposed to allow residents and property owners to plan for the increase. Application of the inflation index will allow for subsequent annual increases to the special tax to keep pace with increases in construction costs.
If approved, the special tax will result in annual revenue of $ 21,825.00 in 2007/2008, and increase of $ 9,700.00 over the current assessment, and annual revenue of $29,100.00 in 2008/2009, an increase of $ 16,975.00 over the current assessment.
Reason for Recommendation:
Your Board formed the Many Oaks Lane Zone of Benefit #98132 in May 27, 1986...
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