Item 103 Passedunofficial
In plain language — from the agenda backup
This item sets the 2027 assessment rate for the East Sixth Street Public Improvement District and approves the district's updated service plan, assessment roll, and budget. Property owners in a Public Improvement District pay an extra assessment that funds services and improvements within that specific area. The 2027 rate is $0.10 per $100 of value on commercial properties valued under $500,000, estimated to produce $46,784.18 at an 85% collection rate.
The official agenda language
Conduct a public hearing and consider an ordinance setting the assessment rate and approving the 2027 assessment roll for the East Sixth Street Public Improvement District and declaring an emergency and consider an ordinance approving the East Sixth Street Public Improvement District Service and Assessment Plan and Budget update for 2027 and declaring an emergency. Funding: The 2027 assessment rate of $0.10/$100 on commercial properties valued at less than $500,000 is estimated to produce $46,784.18 at an 85% collection rate.
"Without objection, item number 103 is adopted." — meeting transcript (unofficial)