File #: 19-368    Version: 1 Name: Resolution No. 19-24, Adjusting the Threshold Amount for Reimbursement District Eligibility
Type: Resolution Status: Consent Agenda
File created: 6/6/2019 In control: City Commission
On agenda: 6/19/2019 Final action:
Title: Resolution No. 19-24, Adjusting the Threshold Amount for Reimbursement District Eligibility
Sponsors: Wyatt Parno
Attachments: 1. Staff Report, 2. Resolution No. 19-24
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Title

Resolution No. 19-24, Adjusting the Threshold Amount for Reimbursement District Eligibility

 

Body

RECOMMENDED ACTION (Motion):

Move to adopt Resolution No. 19-24, A Resolution Adjusting the Threshold Amount for Reimbursement District Eligibility.

 

BACKGROUND:

Chapter 3.20 of Oregon City Municipal Code (OCMC) provides a method to reimburse a person who finances the construction of a public improvement with capacity to serve development other than that for which it is built, by allowing the person to apply to the City to establish a reimbursement district.  The reimbursement is earned when other property owners connect to or start to use a portion of the improvement.  One requirement for the establishment of a reimbursement district is that the reimbursement portion of the public improvement must cost in excess of a specific dollar amount referred to as the threshold amount.  The threshold amount, initially set at $25,000 by Ordinance 00-1004 on March 3, 2000, is to be adjusted annually by the City Commission.  City Code provides for a resolution each July 1st to adjust by a factor equal to the Consumer Price Index.  Adoption of this resolution adjusts the threshold amount to $38,800.

BUDGET IMPACT:
Amount: No budget impact.
FY(s):  Fiscal Year Ending 2020
Funding Source:  N/A