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Apopka council approves initial special-assessment plan to repair Emerson Park roads
Summary
After a detailed presentation by bond counsel, the City Council adopted an initial-assessment resolution to begin financing road and sidewalk repairs in the Emerson Park subdivision; the plan estimates about $2.85 million of financing and a proposed per-dwelling annual assessment around $591 on a 15-year, 5% amortization.
Apopka’s City Council on March 19 adopted an initial assessment resolution to start a special-assessment program that will fund repairs to roads and sidewalks in the Emerson Park subdivision.
Bond counsel Christopher Rowe of Bryant Miller Olive told the council the neighborhood’s Tract A roadways are privately owned by the homeowners association but have deteriorated and need reconstruction. Rowe said the project’s construction cost was estimated at roughly $2.03 million, with contingency and financing costs bringing the total assessment-financing amount presented to about $2.85 million. He said the city is proposing to amortize the cost over 15 years at…
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