TITLE
Recommendation to adopt resolution ordering the making of amended assessments pursuant to Sections 3.52.652 through 3.52.656 of the Long Beach Municipal Code; and
DISCUSSION
In 1991, the City Council authorized the issuance of $17.4 million of Earthquake Repair Assessment District No. 90-3 (AD 90-3) conduit bonds to enable property owners to make necessary seismic repairs by allowing an annual assessment levy on their properties. In accordance with Long Beach Municipal Code Chapter 3.52.652 through 3.52.656, City Council approval is required to apportion the assessment on an original property that has since been subdivided.
Attached is a resolution directing the making of an amended assessment report and assessment diagram. The second resolution approves the preliminary amended assessment and orders a public hearing on Tuesday, July 10, 2007 at 5:00 p.m. Accompanying the second resolution is the Assessment Apportionment Report that amends the assessment district's roll. The property being apportioned is located at 10 Atlantic Avenue. Assessment district consultant NBS has prepared the assessment apportionment report.
This matter was reviewed by Assistant City Attorney Heather Mahood on June 11, 2007 and Budget and Performance Management Bureau Manager David Wodynski on June 8, 2007.
TIMING CONSIDERATIONS
City Council action is requested on June 19, 2007 to set a public hearing to proceed with the district apportionment.
FISCAL IMPACT
There is no fiscal impact to the General Fund. The homeowner association has paid $3,590 for assessment apportionment processing services provided by NBS, the City's assessment district consultant. Funds were deposited into the General Purpose Fund (GP 100) in the Department of Financial Management (FM) to reimburse the City for this service charge.
BODY
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LONG BEACH ORDERING THE MAKING OF AMENDED ASSESSMENTS PURSUANT TO SECTIONS 3.52.652 THROUGH 3.52.656 OF THE LONG BE...
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