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Park City council votes to allow 20-year special assessments going forward
Summary
After discussion and staff recommendation, the council voted 7-1 on June 10 to extend future residential infrastructure special assessments from 15 years to 20 years; staff said the change would apply to assessments moving forward and that bond counsel and the city’s financial advisor approved applying 20 years for upcoming hearings.
Park City Council voted 7-1 on June 10 to allow future residential infrastructure special assessments to be spread over 20 years rather than the current standard of 15 years.
Staff told the council that the city previously allowed 20-year assessments for neighborhoods that chose concrete paving over asphalt and that in 2022 the council approved a similar extension in that limited circumstance. Staff said several builders have requested extending all infrastructure assessment terms to 20 years to offset rising home-construction costs. Staff reported contacting the city’s financial advisor and bond counsel about extending upcoming assessments set for a June 24 public hearing; both advised that it would be acceptable to apply a 20-year term and that the ordinance adopting the duration is approved after the public hearing.
Nut graf: The council’s change applies to assessments moving forward and — according to staff — will not retroactively alter existing assessments that are already set at 15 years. Staff recommended a uniform period rather than different lengths for different assessment types, reflecting bond counsel and advisor advice.
Discussion highlights: Councilmember Brandy Bailey raised a durability concern: “I guess my concern with that is that is that some of those roads aren't gonna last 20 years. And so somebody might be paying special assessments on a project that we're still they're still paying on a project that is now no good.” Staff replied that the practice of extending to 20 years had been used previously for concrete projects and that nearby communities (staff listed Wichita, Derby, Andover, Maize, Goddard, Bel Aire, Valley Center, and El Dorado) are spreading infrastructure assessments over 20 years.
Councilman Charles Schwenke moved to approve allowing special assessments to be extended up to 20 years versus the current policy of 15 years. Council voted 7-1; staff said the change applies only to future assessments and will not change existing assessments that are already set at 15 years.
Staff identified the next procedural step as the public hearing on June 24, after which an ordinance would be adopted formalizing the duration for assessments. The council did not identify which councilmember voted against the motion during remarks on the floor; the recorded outcome was 7-1.
