On September 29, 1998, the Mayor and City Council adopted Resolution No. 2453 establishing the Park Glen Public Improvement District (PID).
State law requires an annual report on the proposed budget and Five-Year Service Plan for the PID, which is attached. The general nature of the proposed improvements and/or services to be provided in the PID include:
- A Landscaping, Construction, and Maintenance Program consisting of the planting and maintenance of special supplemental landscaping, the maintenance of supplemental irrigation systems, fountains, ponds, and parks;
- Special lighting and fence maintenance in and along boulevards, parks, and open spaces;
- Supplemental public safety and security services;
- A Public Events Program consisting of recreational activities, special events, and holiday lighting;
- Capital improvements benefitting the PID; and
- A management program to provide for the administration, management, and operation of the PID, which will include a key person to respond to neighborhood issues and the unique daily needs of the property owners within the PID.
The City's Payment In-Lieu of Services, which is a line item listed on the Five-Year Service Plan, will require a transfer of City funds. The City's Payment In-Lieu of Services is a supplement to the PID budget and intended to provide for the standard level of improvements and services as comparable to what would be provided by the City for the taxpayers generally.
On February 13, 2018, the City Council adopted a Revised Policy for Operating Public Improvement Districts (Resolution 4905-02-2018), which sets forth the City's administrative fee structure for all PIDs. The City's administrative fee is set at the greater of: (1) two percent (2%) of the projected externally generated revenue for that year, to include special assessments and any City contributions; or (2) $2,000.00.
The proposed 2018 Assessment Rate on property subject to assessment in the PID is $0.165 for residential properties and $0.035 for commercial properties per each $100.00 of valuation. The proposed 2018 Assessment Roll for the PID will be filed with the City Secretary and available for public inspection during normal business hours at any time prior to the August 21, 2018 Public Benefit Hearing.
For fiscal year 2018 (tax year 2017) PID 6 levied an assessment rate of $0.175 cents for each $100.00 of property value for residential property and $0.035 cents for each $100.00 of property value for commercial property. The PID experienced growth in net taxable value equal to 9.9%, or $88,702,233.00 allowing the residential assessment rate to be reduced by $0.01. Thus, the recommended fiscal year 2019 (tax year 2018) assessment rate is $0.165 for residential and $0.035 for commercial per $100.00 of property value. Even with the lower assessment rate, revenue growth year over year is $30,933.00 or 2.0%.
This M&C does not request approval of a contract with a business entity.