SUBJECT
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Public Hearing to consider adoption of an ordinance creating the Central Inwood Street Lighting Municipal Service Benefit Unit (“MSBU”).
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DESCRIPTION
The proposed municipal service benefit unit (“MSBU”) will include those properties located in the central area of Inwood as shown in Exhibits “A” and “B” of the proposed ordinance. The assessments from the proposed MSBU will be used to pay for the ongoing costs to operate and maintain the streetlights which are proposed to be installed within the MSBU, along with the reimbursement of tree trimming and other necessary costs for the installation of streetlights and poles within the MSBU.
The initial total estimated amortized capital improvement and operation cost for the MSBU is $42,509 per year, however, this amount may vary according to duly authorized rate modifications. The initial assessment will not exceed $71.34 per Equivalent Residential Unit (“ERU”), defined as the standardized unit to express the average size of a single-family structure located in the MSBU (1,423 square feet). Each year after the initial assessment period, the Board of County Commissioners, through the adoption of an Annual Street Lighting Assessment Resolution, shall determine the Assessment required for the following fiscal year, according to the procedure set forth in the proposed ordinance.
RECOMMENDATION
Adopt the proposed ordinance creating the Central Inwood Street Lighting Municipal Service Benefit Unit.
FISCAL IMPACT
No fiscal impact. Costs of installation, operation and maintenance of the Central Inwood Street Lighting MSBU will be paid by lot owners through an annual special assessment.
CONTACT INFORMATION
Sandra Howard
Deputy County Attorney
(863) 534-6437