PLACEMENT: Consent
TITLE:
title
INITIAL ASSESSMENT RESOLUTION FOR THE SW HONEY TERRACE MUNICIPAL SERVICE BENEFIT UNIT
end
EXECUTIVE SUMMARY:
executive summary
Board action is requested to adopt the Initial Assessment Resolution to allow for the paving of SW Honey Terrace from SW Citrus Boulevard (CR 76A) to SW Leighton Farm Avenue.
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DEPARTMENT: Public Works
PREPARED BY: Name: George Dzama, P.E.
Title: Capital Projects Manager
REQUESTED BY: SW Honey Terrace Property Owners
PRESET:
PROCEDURES: None
BACKGROUND/RELATED STRATEGIC GOAL:
The Public Works Department is in receipt of a majority ballot vote from the property owners adjacent to SW Honey Terrace in favor of the proposed project for Martin County (County) to pave SW Honey Terrace from SW Citrus Boulevard (CR 76A) to SW Leighton Farm Avenue. SW Honey Terrace is an open public dirt road that is located in Palm City Farms and maintained by the County. There are 31 properties in the proposed project area.
The affected property owners in this project area were sent ballots indicating that the estimated cost of the project would be between $9,326.85 and $11,642.70 per property. The final tally of all the ballots received to date as verified by the Martin County Supervisor of Elections Office indicate 17 properties FOR the project, 6 AGAINST and 8 that did not vote.
Based on the final design and assuming a County contribution is made as described below under Issues, the initial prepayment amount is $9,326.85 per parcel unit (single family dwelling unit equivalent) which is below the estimated range as outlined in the ballots mentioned above. Amortizing the project over a 10 year period at an interest rate of 4.25%, interest will result in an estimated annual payment of $1,164.27 per parcel unit. The annual payment will also include a total of 8.75% in fees; 2% Tax Collector fee, 2.75% tax roll preparer and legal consultants, and 4% adjustment for early tax bill payments. The project will be financed through internal borrowing as described below under Fiscal Impact. The annual payment will be included in the tax bill to be mailed in October 2018. The proposed assessment will include 31 properties at 31 parcel units.
A public hearing has been scheduled for Tuesday, August 21, 2018. The notice for the hearing will be advertised in The Stuart News and upon adoption of the Initial Assessment Resolution today, individual notices of the public hearing will be mailed to each property owner proposed to be assessed at the mailing address indicated on the tax roll.
Chris Traber, the County’s Special Assessment Counsel, has prepared the resolution, reviewed the agenda item summary and confirmed that the form of each is proper.
ISSUES:
County staff currently maintains the dirt roadway with manpower, machinery, and imported material. Benefits to paving the roadway include lower life cycle cost, improved water quality, and improved air quality. Since staff’s recommendation results in a safer and more accessible neighborhood, which is in the interest of the health, safety, and welfare of Martin County, the Board may consider funding the improvement at 25% of the total cost, or $96,377.00, and assessing the thirty-one property owners the remaining balance of $289,132.50 being approximately $9,326.85. The rough cost estimate for the improvements of SW Honey Terrace is attached.
LEGAL SUFFICIENCY REVIEW:
Chris Traber, the County’s Special Assessment Counsel, has prepared the resolution, reviewed the agenda item summary and confirmed that the form of each is proper.
RECOMMENDED ACTION:
RECOMMENDATION
Move that the Board adopt the Initial Assessment Resolution to create the SW Honey Terrace Municipal Service Benefit Unit.
ALTERNATIVE RECOMMENDATIONS
Pull this item from the Consent Agenda.
Move that the Board does not adopt the Initial Assessment Resolution and cancel the project.
FISCAL IMPACT:
RECOMMENDATION
The total project cost will be internally financed from Countywide Road Maintenance MSTU (Fund 1150) and reimbursed by prepayments and annual payments for the 10-year assessment repayment period.
|
Funding Source |
County Funds |
Non-County Funds |
|
MSBU |
|
$289,132.50 |
|
Road MSTU |
$96,377.50 |
|
|
|
|
|
|
Subtotal |
$96,377.50 |
$289,132.50 |
|
Project Total |
$385,510.00 |
ALTERNATIVE RECOMMENDATIONS
None
DOCUMENT(S) REQUIRING ACTION:
☐Budget Transfer / Amendment ☐ Chair Letter ☐Contract / Agreement
☐Grant / Application ☐Notice ☐Ordinance ☒Resolution
☐Other: