RES110501A - NID - 1200 Block of Purdue

Home Browse Search

RESOLUTION The matter of the neighborhood improvement district in the 1200 block of Purdue was considered. After a review and general discussion of the matter, Councilmember ~ offered thc following resolution and moved its; adoption. BE IT RESOLVE[): declares as follows: I. That the Council of thc City of University City, Missouri finds and The 1200 block of Purdue Avenue is located in University City, Missouri (the "City). On or about March 14, 2001, a petition for the creation of a neighborhood improvement district in the ! 200 block of Purdue Avenue was filed with the City. The petition was signed by the owners of record of at least two-thirds by area of all real property located within the neighborhood improvement district. Such district is hereby established. The project name: for the improvement is the "!200 Block of Purdue Improvement Project." The general nature of'the improvement is the removal of a steel street barricade at the intersection of Purdue and Wellington Avenues in the City, and the construction of a concrete island barricade and planter in its place. Plans and specifications tbr the improvement were obtained by the City and approved by the neighborhood improvement project representatives. The public improvement has been completed in accordance with the plans and specifications, at a final cost of $5,735, which is less than the original estimated cost of $6,700. The City has paid $1,525 of the final cost, a sum that represents the City's average cost to construct a street barricade. The property owners in the neighborhood improvement district owe the balance of $4,210. The improvement was advisable, necessary and in the public interest. The boundaries of the. neighborhood improvement district to be assessed include every lot in the 1:200 block of Purdue Avenue. The balance of final cost of the improvement to be assessed against the property in the neighborhood improvement district shall be apportioned against such property in accordance with the benefits accruing thereto by reason of such improvement. The method of assessment is for the balance of the final cost to be assessed equally per property address in the 1200 block of Purdue Avenue. BE IT FURTHER RESOI,VF, D: ]'hat thc $4,210 balance of the final cost of the improvement is hereby assessed against each parcel of property deemed to be benefitted by the improvement, as provided in the attached assessment roll, marked Exhibit "A" and made a part hereof. The property owners may pay the assessments in full on or betbre January 4, 2002, or may pay the assessments in substantially equal annual installments for a duration not to exceed three years. The first installment shall be payable after the first collection of general property taxes following the adoption of this Resolution. The assessmen]~g' shall accrue interest at a rate