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Council approves CID to amortize Lawrence Bay specials; public speakers urge foreclosure and accountability
Summary
The governing body approved a Community Improvement District July 15 to amortize future special assessments on 19 lots in the Lawrence Bay area, reducing monthly payments for future homebuyers.
The Topeka governing body on July 15 approved a Community Improvement District that will allow existing future special assessments on 16 developer-owned lots and three city-owned lots in the Lawrence Bay subdivision to be amortized over 20 years, lowering monthly payments for future homeowners, staff said.
Deputy City Manager Braxton Copley told the governing body the change will reduce monthly special assessments on the affected lots from about $300 per month to roughly $185 per month by amortizing existing future specials over a 20-year schedule. He said the developer…
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