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Committee refers ordinance authorizing system development charge financing and related liens to council
Summary
The Finance Committee heard staff explain a package of loans and liens that allow property owners to finance system development charges, private plumbing loans and safety-net deferrals; the committee voted to refer the ordinance to full council with a recommendation to pass.
The Finance Committee on Monday referred to the full City Council an ordinance that authorizes the city to process financing and liens related to system development charge (SDC) contracts, private plumbing loan contracts and safety-net loan deferral contracts.
Chief Financial Officer Jonas Berry said the package is a routine, typically annual set of actions that authorize the city to process low-cost financing and liens for property owners who arrange financing with SDC bureaus. Salida Holt of the Revenue Division and Sherry Matias (online) explained the program and answered…
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