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Council authorizes staff to begin Landmark Drive LID process with 10‑year payback at 5%
Summary
Council directed staff to issue notices and prepare an ordinance to set assessments for the Landmark Drive local improvement district, proposing a 10‑year repayment at 5% interest and inviting affected property owners to comment at a future meeting.
City staff told the council the Landmark Drive Local Improvement District (LID) would allocate the cost of road improvements across benefited properties using acreage as the assessment method, noted one parcel (2707) had been removed because it does not access Landmark Drive, and recommended a 10‑year payback period at 5% annual interest.
Councilors discus…
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