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TO: Mayor Richard C. Irvin
FROM: Martin S. Lyons, Chief Financial Officer/City Treasurer
DATE: December 2, 2018
SUBJECT:
2018 Special Service Area Property Tax Levies.
PURPOSE:
To obtain the City Council's approval of the 2018 property tax levies for the special service areas (SSAs) established within the city.
BACKGROUND:
The city has established numerous SSAs within its corporate boundaries for a variety of purposes. Some of these SSAs are "active" and SSA property taxes are levied in support of their purposes. Eight of the active SSAs are 34-series SSAs whose tax levies have been pre-established by the City Council's passage of ordinances related to the payment of principal and interest on the Series 2006 and 2012D Refunding Debt Certificates. The remaining SSAs are "dormant." Generally, the city has established the dormant SSAs as a contingency to enable the city to undertake focused stormwater management projects should the need arise.
DISCUSSION:
Attached as Exhibit 1 is a schedule summarizing the proposed 2018 property tax levies for the active SSAs, other than those pertaining to the 34-series SSAs. The changes in the SSA levies will be as follows:
SSA32, North Kendall Street. This levy is being increased by $86.00 based on the length of the SSA. The SSA goes through the 2018 tax levy year.
SSA60, Bowditch/East Lake. This levy is being increased by $249.00 based on the length of the SSA. The SSA goes through the 2018 tax levy year.
While not addressed in the attached SSA property tax levies, the total SSA property tax levies for SSAs 34C2 through 34G will be $430,100. As described above, the this amount will be applied to the principal and interest due in 2018 on Series 2006 and 2012D Refunding Debt Certificates.
IMPACT STATEMENT:
Not applicable.
RECOMMENDATIONS:
That the City Council approve the attached 2018 SSA property tax levies for the city's 16 active SSAs (other than 34C2 through 34G).
cc: Alderman O'Connor, Chairman
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