AGENDA #4e

MEMORANDUM

TO:	Roger L. Stancil, Town Manager
FROM:	George Small, P.E., Engineering Director Larry Tucker, Senior Engineering Coordinator
SUBJECT:	Resolution Calling a Public Hearing on the Preliminary Assessment Roll for Street Improvements on Jay Street
DATE:	February 11, 2008

PURPOSE

The attached resolution would call a public hearing on March 3, 2008 to hear comments regarding the preliminary assessment roll for street improvements recently completed on Jay Street.  Please see the attached map.

BACKGROUND AND DISCUSSION

Paving petitions provide a formal means for citizens to signify their desire and willingness to contribute to the cost of paving and other improvements on existing unpaved streets in their neighborhood.  The requirements in State law for a valid paving petition include signatures of a majority of the owners of property with frontage on the street or portion thereof, to be improved.  These owners must also hold a majority of all front footage abutting proposed improvements.

On March 22, 2004 the Council received a valid petition for paving Jay Street, which was an unpaved street extending south from Village Drive approximately 420 feet in length.  Please see attached map.

Funding for this project was included in the 2006-2007 Town budget adopted by the Council and construction was completed by a combination of Town and contract forces in September 2007.  The Town agreed to share in the improvement costs 50-50 with the adjacent property owners, in keeping with past policy for paving petition projects similar to this one.

Upon completion of construction, the State Statute requires that a preliminary assessment roll be prepared and that a public hearing on the assessment roll be held.  Following the hearing, the assessment roll is adjusted if necessary, and is confirmed by the Council. Property owners are then formally notified of their assessment and payment options.

We have attached a copy of the preliminary assessment roll for the petition area.  The cost of improvements within the limits of the petition area are prorated to each property owner with property frontage within the project limits.  The Jay Street petition was submitted for assessments on a front-footage basis and the attached preliminary assessment roll was developed accordingly.

The preliminary assessment roll includes 50% of the actually, total project construction costs upon completion.  The Town would pay the remaining 50% of the project costs.

Owners of assessed property would have the option of paying the assessment in one cash payment within 30 days after publication of notice of confirmation of the final assessment roll, or in not more than three (3) annual installments, the first of which would be due and payable concurrently with property taxes, with interest at an annual rate of 6%.

RECOMMENDATION

That the Council adopt the following resolution calling a public hearing on March 3, 2008 regarding the Jay Street preliminary assessment roll, in accordance with the requirements of the N.C.G.S. Chapter 160A, Article 10.

ATTACHMENTS

1.         Assessment Roll (p. 4).

2.         Map (p. 5).