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Finance director: 13 Riverside Village parcels face mid‑fee assessments totaling $736,522
Summary
Finance Director Linda Williamson said annual revenue shortfalls in the Riverside Village financial model will trigger mid‑fee assessments on 13 parcels this year, totaling $736,522; staff showed two examples where one parcel’s revenue exceeded its assessment while another senior-living parcel will receive a $401,306 mid‑fee.
The city’s finance director reported to the council that Riverside Village special-assessment parcels that did not meet projected tax revenue will be levied mid‑fee assessments totaling $736,522 across 13 parcels.
Linda Williamson reviewed the three-step method used to calculate the so‑called mid‑fee: (1) compare the annual revenue requirement (debt service, administrative costs and any available…
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