REPORT TO COUNCIL
SUBJECT
Title
Adoption of a Resolution of Intention for Parking Maintenance District No. 122 - Franklin Square [Council Pillar: Deliver and Enhance Quality Efficient Services and Infrastructure]
Report
BACKGROUND
Parking Maintenance District No. 122 was formed in 1965 to maintain parking lots, arcades, fountains, sidewalks, landscaping, irrigation, lights, and utilities within Franklin Square, which is bounded by Benton Street, Homestead Road (formerly known as Liberty Street), Monroe Street, and Jackson Street. From 1965 - 2002, the cost of maintenance and operation of Parking Maintenance District No. 122 was divided between the City and property owners. In 2002, the City Council passed a motion at a public hearing in which the City assumed all future costs for operation and maintenance. Under this alternative collection method, the property owners contribute annually to pay for capital repairs of the parking lot and associated walkways. The annual contribution totals $14,200 less the earned interest on the accumulating balance. The City, through the General Fund, is responsible for covering the annual maintenance.
Adoption of the proposed resolution is the initial step necessary to set the annual budget for Parking Maintenance District No. 122. The approval process requires the preparation of a Director's Report (Attachment 1) explaining the preparation and basis of assessments; publication and posting of a Notice of Public Hearing (Attachment 2); and holding a public hearing on the annual assessments. Following approval of the subject Resolution of Intention (Attachment 3), each property owner will be sent a letter containing the proposed FY 2020/21 assessment and details on a June 2, 2020 public hearing to approve the assessments.
DISCUSSION
The proposed FY 2020/21 assessment to property owners will be $10,374. Accrued interest earned in FY 2018/19 in the amount of $3,826 will be used to reach the $14,200 annual requirement. T...
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