Chapter 7.12
REASSESSMENT OF PROPERTY LOCATED IN LOCAL IMPROVEMENT DISTRICT
Sections:
7.12.020 Basis for reassessment.
7.12.030 Method of reassessment.
7.12.050 Use of reassessment funds.
7.12.010 Purpose.
The purpose of this chapter is to provide a method for reassessment of property which is located in a local improvement district created for financing of public parking, which properties received credit for existing parking at the time of the original assessment and which parking spaces were discontinued or unavailable prior to the expiration of the Bancroft assessment period for the original district. (Ord. 2280 §1, 1978)
7.12.020 Basis for reassessment.
A. Real property within the benefited and improvement area for which a local improvement district is created for the purpose of financing public off-street parking which is exempted by the terms of this chapter creating the local improvement district shall be subject to subsequent assessment by the city council in the event of a change of use of the property exempted subsequent to the creation of the local improvement district and prior to the period for retirement of the debt for financing of the improvement.
B. In the event a parcel of property receives credit for existing parking on its parcel so that its assessment is less than the general rate of assessment for properties in the area and any properties which are exempted by virtue of their specific uses, e.g. churches, shall be subject to reassessment upon the change of use. (Ord. 2280 §2, 1978)
7.12.030 Method of reassessment.
A. In the event of change of use during the period from the time of the creation of the local improvement district and the expiration of the period for retiring the indebtedness in connection with the improvement, the city council shall by separate ordinance assess the property which is the subject of the change of use for payment in the amount of the pro-rata share of the original assessment if no credit was given as applied to the balance of the period for which the debt for the creation of the improvement is to be retired.
B. It is the intention of the city council that any reassessment of a parcel of property by virtue of a change of use with regard to property which was previously the subject for a credit against a prior assessment should be assessed so that it pays a proportionate share of the cost of the improvement as related to the balance due on the improvement as of the time of the change of use. (Ord. 2280 §3, 1978)
7.12.040 Hearing.
Prior to any reassessment of property by virtue of a change of use in prior exempt property in a local improvement district, the city council shall give notice and the right to remonstrate to the parcel owner of the property subject to the reassessment and shall provide for a public hearing in the same manner as in the creation of the initial local improvement district. (Ord. 2280 §4, 1978)
7.12.050 Use of reassessment funds.
All funds received by the city for reassessment of previously exempted property shall be placed in a special parking lot reserve fund which will be used to offset the cost of acquisition of new parking spaces within the city. (Ord. 2280 §5, 1978)