Title 07 Finance
Chapter 07.05 Local Improvements
Article II. Improvements at Substantial Risk
Section 07.05.022 Analysis
The director of engineering services, in coordination with the comptroller, the City’s fiscal advisor and other appropriate staff, shall analyze a proposed local improvement district project to determine the potential risks of committing City staff to the project and any factors that may adversely affect the marketability of bonds. The determination shall include, but not be limited to, the following factors:
- Diversification of ownership of the property in the proposed district.
- Percentage of property owned by the proponent(s) of the project.
- Extent of development within the proposed district.
- Purpose of the proposed improvements.
- Potential effects on the City of the proposed project; and
- Past experience with the proponent(s).
Date Passed: Monday, May 7, 2007
Effective Date: Wednesday, June 20, 2007
Recodification ORD C34024 Section 1