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424 October 19,1988 <br /> 1 <br /> uncilmembex Morrow stated he was not at the previous hearing but <br /> '11'4 <br /> '�{ he had reviewed all the testimony and all the exhibits and felt that <br /> hex able to participate in he decision on this issue If there <br /> were no objections. No objections were received. <br /> . <br /> President Niva stated the procedure for the hearing will be to <br /> accept any written protests that have not been received previously, <br /> then a staff report will be presented. she stated a court reporter <br /> is In attendance and asked that all speakers give their name and <br /> y address for the record. <br /> 11'1 Brian Jones, Acting LID Administrator, reviewed the chronology of <br /> { events regarding the applications for grants and cost estimates for <br /> LID 717,4th Avenue West Project. In 1986 an estimate of$1,760,000 <br /> .9 as made for the improvements. Of that amount, $920,000 of the <br /> improvements were grant eligible. And at that time, the UAB was <br /> j.11' approving grants at LIDS of the eligible improvements or $828,000, <br /> the maximum amount of grants that could be expected. <br /> ' In 1985, at the formation, a detailed cost estimate of <br /> $2,546,500 was given. There s no information given to explain the <br /> e <br /> �II increases from the original figure. At the time of formation the <br /> 71 ( property owners were told their assessments would total$950,650,or <br /> YS 1 approximately 10%of the cost estimate. At the formation hearings <br /> and as stated in the formation ordinance, the property owners <br /> told 1)if DAB funds were not received in five years the LID would <br /> i be void, 2) no grant funds had been received or approved at the <br /> I, time of formation and 3) in no case would the assessments <br /> menta exceed <br /> the special benefits. <br /> The project was constructed from May of 1907 to May of 1988 with a <br /> a. r' total cost of $2,072,617. The actual grant contribution received <br /> 10, was 903,,73. With other available contributions, the total final <br /> assessment of$791,884. <br /> Blair Burraugha, special LIO Cuncil, asketl iP the higher c <br /> } estimates wo ltl nave been used Ln the giant applications SP the City <br /> would have been eligible Por moxa grant Puntla. Nx.Janes stated the <br /> toter eligible casts of the TLnal project were E3,201,�]31 end the <br /> City received 79%oP those costs in grant funds. so e n IP those <br /> ( figures w xe used,the a sessments for the property oxnexa would not <br /> ' he a beenlensthan the original estimates. <br /> �� Moved by Douncllmember Stephenson, eecondetl by Councilmembe[ <br /> Overstreet that the public hearing.be continued to November 30,1980 <br /> in Order to allow the City to consider making additional <br /> f contributions towards this project. <br /> )III{v'3 Roll was called with all councilmembera voting yea. <br /> ! Motion carried. <br /> § On motion the meeting adjourned at 8:30-p.m. <br /> fIV]I,' y g�-2za-at/..— <br /> lerk <br /> Reed and approved as printed. Cpr fIr <br /> io { YI E <br /> six`, <br />