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Riley County sets 10-year special assessments for Peterson Ranch road project
Summary
After debate with the developer and HOA, the Riley County Commission approved a 10-year special-assessment period for the Peterson Ranch street project, declining the developer's request for 15 years and scheduling a public hearing to finalize assessment amounts.
Riley County commissioners voted June 29 to assess Peterson Ranch street benefit-district specials over a 10-year period following public input from the developer and neighborhood representatives.
Britney Phillips, Budget and Finance Officer, and staff reviewed financing options and noted that combining the Peterson Ranch project with the nearby solid-waste tipping-floor project could improve bond rates but would change allocation and interest cost. Developer Lyn Blicka urged a longer payout for homeowner affordability — saying lot buyers had been told paving was expected and historically some municipalities use 20-year terms — and said the homeowners association had voted to request a 15-year payout.
County staff recommended a 10-year period, noting that a longer bond term increases total interest paid by property owners even if monthly payments are smaller. Commissioners agreed and approved a motion to assess specials for a 10-year period; a resolution setting a public hearing (tentatively July 20) will be prepared before assessments are finalized.
Next steps: staff will present a resolution setting a public hearing on July 20 and publish assessment details, including per-lot cost estimates and the final financing structure.
