SUBJECT
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Consider adopting an ordinance creating the Master Inwood Street Lighting Municipal Service Benefit Unit ("MSBU") and adopt the Tentative Rate Resolution for the 2025-26 Master Inwood Street Lighting MSBU. (No fiscal impact)
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DESCRIPTION
The County has installed streetlights in certain portions of the Inwood area over the past four years. Initially, the area was partitioned to roll out the installations in phases. The first area to install streetlights was Southwest Inwood in 2021 under Ordinance No.21-54. The next area to have streetlights installed was Central Inwood in 2023 under Ordinance No. 23-79. Now, the northern portion of Inwood is seeking to have streetlights installed. The County has found that the consolidation of the area under a single assessment rate will make assessment collection more affordable while bringing the rate down for the property owners. Therefore, the County seeks to consolidate the already existing Inwood areas that have streetlights installed, Southwest and Central, while including the northern area to have streetlights installed into a single Master Inwood Area. Because the areas paid different Capital Rates when the streetlights were installed, affected property owners will initially pay different annual assessment rates until the installation and other capital costs have been paid off in the next 5 years.
Likewise, pursuant to Polk County Ordinance No. 2023-079, the Polk County Board of County Commissioners must adopt a Tentative Rate Resolution each year establishing tentative rates for the Master Inwood Street Lighting MSBU for the upcoming fiscal year. The tentative rates set by the Board are then included in the notice for the final adoption hearing for the Master Inwood Street Lighting MSBU roll. The recommended rate for the 2025-26 fiscal year for each Assessed Property within the MSBU is enumerated in Exhibit "A" of the proposed resolution.
RECOMMENDATION
Adopt ordinance providing for the creatio...
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