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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 discussed the rationale for a 5% interest rate — finance staff and the finance committee recommended the rate as reasonable compared with higher SDC lien rates — and the process for notifying property owners, allowing written objections and holding a subsequent council meeting for final consideration. Staff said the engineer’s estimate and the construction bid were lower than earlier engineering estimates.
Mayor McBoren moved to direct staff to issue notices, set the final date for written objections as July 7, 2025, and prepare an ordinance for council consideration on July 14, 2025; the motion was seconded by Councilor Teresa Nielsen and passed unanimously. Staff will mail final assessment notices, invite affected owners to the July meeting and, if no agreement is reached, record liens payable under the agreed 10‑year term or when properties sell.
What happens next: staff will send notices and prepare the adopting ordinance for the July 14 meeting; affected owners will have an opportunity to object or speak during the public process before any lien is recorded.
