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Council adopts special assessments for Greyhawk at Prairie Gardens
Summary
The Basehor City Council adopted Ordinance 9-48 to levy special assessments on lots in the Greyhawk at Prairie Gardens 4th and 5th plat, establishing a $600-per-lot annual assessment for 20 years to support a special-obligation bond financing. The measure passed 5-0.
The Basehor City Council voted unanimously to adopt Ordinance 9-48, authorizing the levy of special assessments on lots in the Greyhawk at Prairie Gardens 4th and 5th plat.
Mitch Walter, the city's bond counsel from Gilmore & Bell, explained the financing structure: "each lot is going to be assessed, the amount of $600 per year." Walter said the assessments will be applied over a 20-year term and the bonds are intended to pay a portion of the developer's project costs while remaining costs are paid by the developer.
Council member (speaker 7) moved to adopt the ordinance and the motion was seconded; the mayor called the roll and the measure passed 5-0. City staff told the council they had received waivers from property owners consenting to assessments and waiving the prepayment period and notice, which allowed the city to proceed to the ordinance without a separate hearing.
City staff said the assessments and associated bond issuance are intended to finance public-improvement costs connected to the developer's project; final bond documents and closing certificates would be executed if the council moved forward with the companion ordinance authorizing issuance.
