AGENDA CAPTION:
Title
Consider approval of Ordinance 2022-80, on the first of two readings, approving the 2022 Annual Service Plan Update for the Whisper Public Improvement District; authorizing the City Manager, or her designee, to execute said document on behalf of the City; and declaring an effective date.
Body
Meeting date: September 20, 2022
Department: Finance Department, Jon Locke, Director of Finance
Amount & Source of Funding
Funds Required: N/A
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Funds Available: Click or tap here to enter text.
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Fiscal Note:
Prior Council Action: City Council approved creation of the Whisper Public Improvement District by Resolution in October 2014 and approved the original Service and Assessment Plan in June 2020. The last update to the Plan was approved by City Council on August 17, 2021.
City Council Strategic Initiative: [Please select from the dropdown menu below]
Workforce Housing
City Facilities
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Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
☒ Economic Development - Choose an item.
☐ Environment & Resource Protection - Choose an item.
☐ Land Use - Choose an item.
☐ Neighborhoods & Housing - Choose an item.
☒ Parks, Public Spaces & Facilities - Choose an item.
☐ Transportation - Choose an item.
☐ Not Applicable
Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
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Background Information:
On October 6, 2014, the City Council approved Resolution No. 2014-143R, creating the Whisper PID to finance certain Authorized Improvements for the benefit of certain property within the PID.
On June 2, 2020, the City Council approved the original Service and Assessment Plan (SAP) and levied $14,300,000 in Assessments to finance the Authorized Improvements to be constructed for the benefit of the Assessed Property within the PID by approving Ordinance No. 2020-37. The original Service and Assessment Plan identified the Authorized Improvements to be provided by the PID, the costs of the Authorized Improvements, the indebtedness to be incurred for the Authorized Improvements, and the manner of assessing the property in the PID for the costs of the Authorized Improvements.
State statute requires the annual update of the service and assessment plan be approved by the City Council each year. Update of the Service and Assessment Plan was last approved by the City Council on August 17, 2021.
Council Committee, Board/Commission Action:
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Alternatives:
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Recommendation:
City staff recommends approval of the Annual Service and Assessment Plan.