Board certifies Timberbrook Meadows assessments, signs mortgage satisfactions and approves annual drain list
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Summary
The drainage board certified assessments for Timberbrook Meadows Phase 1 (Drain No. 500), approved satisfaction-of-mortgage releases for landowners who paid county reconstruction loans, and adopted the annual active/inactive drain list and classification report required by state statute.
County staff told the Tippecanoe County Drainage Board that the assessment for Timberbrook Meadows Phase 1 (Drain No. 500), approved at a prior hearing, is scheduled to begin three years after acceptance of the maintenance bond and that time has arrived.
A board member noted the earlier order indicated a rate of about $20 per lot. County staff said developer-owned unsold lots would be billed to the developer if the lots remain in the developer's name when assessments are collected.
The board moved to approve the certification of assessments for Drain No. 500 and signed the order; the motion was seconded and approved by voice vote.
Staff also reviewed a historical county program under which landowners could finance county-regulated drain reconstruction through a county-held mortgage with a 5 percent interest rate. Several landowners have repaid those loans and staff presented satisfactions (releases) of mortgages for named property owners and trustees. The board moved to approve the satisfactions of mortgage and the motion passed by voice vote.
Finally, staff presented the annual active/inactive county-regulated drain list and the regular drain classification report (a statutory requirement); the board approved both documents by voice vote.
The board adjourned after public comment returned none.