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#5 Waiver of Special Assessments - Willow Glade DEPARTMENT OF PUBLIC WORKS MEMORANDUM ENGINEERING DIVISION November 2, 2009 TO: City Council FROM: Margaret Duerr, Engineering Division SUBJECT: For Council Consent Agenda on November 9, 2009, Waiver of Procedure for Special Assessments for Sanitary Sewer, Water Main, Curb & Gutter and Paving Charges for Willow Glade & Willow Glen – Jack Willow Investments LLC & DK Partnership, LLP. Staff Recommendation The Engineering Division recommends approving this item along with other consent agenda items. Request Jack Willow Investments LLC & DK Partnership LLP requests to waive the special assessment procedure and allow these assessments the use of the 5-year payment plan. Background The Council extended a $110,000 line of credit to Jack Willow Investments, LLC at the May 26, 2009 Council meeting for improvements abutting the Willow Glade plat. The Council was informed the actual amount would be itemized at the time of contract award, which is scheduled for later on the Council agenda. The actual amount for these improvements is $112,680.96. Also at the May 26, 2009 Council meeting, the Council granted a 10-year deferment for the sanitary sewer extensions not abutting developed property. Jack Willow Investments, LLC has agreed to reimburse the City the annual interest payments for these sections at $7,550 / year for the next 10 years or until the property is subdivided. Off-site improvements for Jack Willow Investments, LLC total $49,934.40 while off-site improvements for DK Partnership LLP total $139,888.80. Jack Willow Investment partners & DK Partnership LLP have signed the necessary waiver documents which allow the charges to be spread over five years with interest at 7.00% on the unpaid balance. The following chart shows assessment charges: Owner/Developer Total Assessments: Jack Willow Investments LLC Willow Glade & Off-Site $162,615.36 Willow Glade Sanitary Sewer Water Main Curb & Gutter Paving $17,203.20 $26,836.99 $15,769.60 $52,871.17 Off-Site $49,934.40 Owner/Developer Total Assessments: DK Partnership LLP $139,888.80 Sanitary Sewer $139,888.80 Jack Willow Investment’s current outstanding assessment balance is $94,681.25 for lots in various phases of Heider Estates plus land division assessments for Willow Glade. The cumulative total is $257,296.61. DK Partnership’s current outstanding assessment balance is $1,013.07, with a cumulative total of $140,901.87. CC: Eric Levitt Jacob J. Winzenz Mike Payne \\petey\COJHome\Agenda Review\Approved Agenda Items\2009\11-9-2009\Waiver of Special Assessments - Willow Glade.doc