MEMORANDUM
TO: Assembly President
Kenai Peninsula Borough Assembly Members
THRU: Mike Navarre, Mayor
FROM: Craig Chapman, Director of Finance
Title
Deep Creek Estates-Fairwood Subdivision Utility Special Assessment District Ordinance of Assessment (Mayor) (Hearing on 11/25/14)
Body
Attached please find the ordinance of assessment and the final assessment roll for the Deep Creek Estates-Fairwood Subdivision Utility Special Assessment District. This is the final step for the borough in a process that began with the assembly approving resolution 2014-018, which approved the petition application for the formation of the Deep Creek Estates-Fairwood Subdivision Utility Special Assessment District; the passage of ordinance 2013-19-40, which appropriated $406,989.48 for the project; and resolution 2014-031 which formed the district and authorized construction of the improvements. This ordinance confirms the assessment roll and establishes the method for terminating assessments and making refunds to property owners.
KPB 5.35.107 requires that the owners of more than 70 percent of the parcels within the proposed district sign a petition approving the utility special assessment district and 76.6 percent signed the petition in favor of the project. The gas mainline has been constructed and Enstar has presented a bill to the borough for payment. The gas mainline benefits 107 parcels within the district. The total cost of the assessment is $406,989.48. Based on equal allocation of the total cost of the project, the special assessment per lot in the district is $3,803.64. The assessment may be prepaid without interest within thirty days of the notice of assessment. If not prepaid, the assessment is payable over a ten-year period in equal installments with interest accruing as provided in the attached ordinance. The assessment constitutes a lien on each parcel within the district.