Explanation
BACKGROUND: This legislation authorizes the appropriation and expenditure of up to $750,000.00 and the Director of Development to enter into a contract with the Short North Special Improvement District in an amount up to $750,000.00.
The Short North Special Improvement District (SID) was created in 1998 for a term of 12 years through 2011. In 2011, the property owners sought and obtained reauthorization for a period of 5 years. In 2016 the SID was reauthorized for another 5 years. The petition to reauthorize the SID and Articles of Incorporation was approved by City Council by Ordinance No. 0612-2016, passed March 14, 2016.
City Council also approved the Plan for Improvements and Services to be provided by the Short North SID by Resolution No. 0044X-2016 passed March 21, 2016. The necessity to implement the Plan of Improvements and Services and to levy a special assessment for the improvements and services was approved by City Council by Resolution No. 0099X-2016, passed May 2, 2016.
A final piece of legislation, providing for the levy of assessment to property owners, was approved by City Council by Ordinance No. 1580-2016, passed June 20, 2016. A portion of each assessment is to be returned to the SID for operational requirements as set forth in the District Plan.
This legislation disburses assessments to be collected in fiscal year 2020 to be returned to the SID.
Emergency action is requested to continue services without interruption.
FISCAL IMPACT: Funds for this expenditure will be received from the levy of assessments collected from property owners in the Short North Special Improvement District. These funds are deposited into and expended from the Short North SID Fund (fund 3306).
Title
To authorize the appropriation and expenditure of up to $750,000.00 from the Short North SID fund; to authorize the Director of Development to enter into a contract with the Short North Special Improvement District in an amount up to $750,000.00; and...
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