Title
Hold a public hearing regarding assessments against properties in the League City Public Improvement District #1 (Magnolia Creek), Section 13 (Director of Finance)
Background:
Local government code 372.016 requires a public hearing on proposed assessments. The public improvements funded by the assessments include the construction of water lines, sanitary sewers and drainage, street paving, detention facilities, open space and amenities, master infrastructure facilities, erosion control, as well as engineering, contingency provisions, financing, and administrative costs. The total cost of the improvements is $3,274,531 which includes $2,271,706 in neighborhood costs and $1,002,825 in allocated master costs. The proposed assessment apportions the cost of the improvements based on the special benefits accruing to the property because of the improvement. The proposed assessment rate is $4.07 per square foot at an interest rate of 3% .
The proposed assessment roll was filed with the City Secretary and was made available for public inspection as required by Chapter 372.
Notice of the public hearing was mailed to the last known addresses of the property owners and published in the Galveston Daily News on November 2, 2018.
ATTACHMENTS:
1. Data Sheet
2. Public Hearing Notice
3. Recorded Plat
4. Aerial Map
FUNDING
{ } Funds are available from Account #________
{ } Requires Budget Amendment to transfer from Account #______ to Account #______
{ x } NOT APPLICABLE
STRATEGIC PLANNING
{x} NOT APPLICABLE