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Newport Beach staff to draft loan program to help homeowners with Newport Heights undergrounding assessments
Summary
City staff outlined a possible city-backed loan to let eligible homeowners defer underground utility assessment payments for two proposed Newport Heights assessment districts covering about 600 properties (estimated $25–30 million); council gave staff direction to return with draft program guidelines in early 2026.
Mayor Joe Stapleton convened a study session Nov. 18 to examine options for helping homeowners who may face financial hardship paying underground utility assessments proposed for the Newport Heights area. Jason Allen, the city’s finance director, told the council the two proposed assessment districts would cover roughly 600 properties with an estimated project cost of $25 million to $30 million — about $50,000 per home — and that state law’s standard amortization structure lacks a built-in deferral option.
Allen said staff would study a city-supported loan or deferment program modeled on Laguna Beach and Manhattan Beach, under which the city would issue loans secured by liens that…
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