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Resolution 06-1144CITY OF LONGWOOD, FLORIDA MAGNOLIA AVENUE/OAK: STREET NORTH ROAD PAVING ASSESSMENT AREA INITIAL ASSESSMENT RESOLUTION ADOPTED AUGUST 7, 2006 TABLE OF CONTENTS PAGE ARTICLE I: DEFINITIONS AND CONSTRUCTION SECTION 1..01. DEFINITIONS....................................._............__............................ 1 SECTION 1.02. INIERPRETATION...................................................................... 6 SECTION 1.03. GENERAL FINDINGS..................................._.............................. 6 ARTICLE II NOTICE AND PUBLIC HEARING SECTION 2..01. ESTIMATED CAPITAL C'OST..................................................10 SECTION 2.02. ASSESSMENT ROLL......................................................._........10 SECTION 2..03. PUBLIC HEARING .......... ........................................................... 10 SECTION 2.04. NOTICE BY PUBLICATION..................................................... I I SECTION 2.05. NOTICE BY MAIL..................................................................... I I SECTION 3.01 SECTION 3.02 SECTION 3.03 SECTION 3.04 SECTION 3.05 SECTION 3.06 SECTION 3.07 SECTION 3.08 ARTICLE III ASSESSI\/[ENTS DESCRIPTION OF PROPOSED ASSESSMENT AREA .........12 IMPOSITION OF ASSESSMENTS............_..............................12 PREPAYMENT AMOUNTS.......................................................12 COMPUTATION OF ANNUAL ASSESSMENTS ...................13 INITIAL PREPAYMENT OPTION...........................................15 ADDITIONAL PREPXY9IENT OPTION.................................16 MANDATORY PREPAYMENT ................................................17 REALLOCATION UPON FUTURE SUBDIVISION ...............18 ARTICLE IV GENERAL PROVISIONS SECTION 4.01. METHOD OF COLLECTION.................................................... 21 SECTION 4.02. SEVERABILITY....................................................................._...21 SECTION 4.03. EFFECTIVE DATE ..................................................................... 22 8 APPENDIX A - FORM OF NOTICE TO RE PUBLISHED APPENDIX B - FORM OF NOTICE TO BE MAILED APPENDIX C - DESCRIPTION OF PARCELS IN THE MAGNOLIA AVENUE/OAK STREET NORTH ROAD PAVING ASSESSMENT AREA 11 n RESOLUTION NO. 06-1144 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LONGWOOD, FLORIDA, RELATING TO THE CONSTRUCTION AND FUNDING OF ROAD IMPROVEMENTS; DESCRIBING THE REAL PROPERTY TO BE LOCATED WITHW THE PROPOSED MAGNOLIA AVENUE/OAK STREET NORTH ASSESSMENT AREA; DETERMINING THAT SUCH REAL PROPERTY WILL BE SPECIALLY BENEFITED BY CONSTRUCTION OF THE ROAD IMPROVEMENTS; ESTABLISHING THE METHOD OF ASSESSING THE PROJECT COSTS OF THE ROAD IMPROVEMENTS AGAINST THE REAL PROPERTY THAT WILL BE SPECIALLY BENEFITED THEREBY; ESTABLISHING OTHER TERMS AND CONDITIONS OF THE ASSESSMENTS; ESTABLISHING A PUBLIC HEARING TO CONSIDER IMPOSITION OF THE PROPOSED ASSESSMENTS AND THE METHOD OF THEIR COLLECTION; DIRECTING THE PROVISION OF NOTICE IN CONNECTION THEREWITH; AND PROVIDING AN EFFECTIVE DATE. NOW, THEREFORE, BE IT RESOLVED BY THE, CITY COMMISSION OF THE CITY OF LONGWOOD, FLORIDA, AS FOLLOWS: ARTICLE I DEFINITIONS AND CONSTRUCTION SECTION 1.01. DEFINITIONS. As used in this Resolution, the following terms shall have the following meanings, unless the context hereof otherwise requires. "Adjusted Prepayment Amount" means the amount required to prepay the Assessment for each Tax Parcel located in the Assessment Area as computed pursuant Section 3.03(B) hereof and revised annually pursuant to Section 3.04(I) hereof. "Annual Debt Service Component" means the amount computed for each Tax Parcel pursuant to Section 3.04(E) hereof. "Annual Debt Service ]Factor" means the factor computed pursuant to Section 3.04(D) hereof "Assessment" means an annual special assessment imposed against real property located within the Assessment Area to fund the Project Cost of Road Improvements to serve the Assessment Area and related expenses, computed in the manner described in Section 3.04 hereof. "Assessment Area" means the proposed. Magnolia Avenue/Oak Street North Road Paving Assessment Area described in Section 3.01 hereof. "Assessment Coordinator" means the person designated by the City \1_1 Commission to be responsible for coordinating Assessments, or such person's designee. "Assessment Roll" means a non -ad valorem assessment roll relating to the Project Cost of the Road Improvements and related expenses. "Capital Cost" means all or any portion of the expenses that are properly attributable to the acquisition, design, construction, installation, reconstruction, renewal or replacement (including demolition, environmental mitigation and relocation) of the :Road Improvements and imposition of the Assessments under generally accepted accounting principles; and including reimbursement to the City for any funds advanced for Capital Cost and interest on any interfund or intrafund loan l:or such purposes. 4 "City" means the City of Longwood, a municipal corporation duly organized and validly existing under the laws of the State of Florida. "City Attorney" means the City's Attorney', or such person's designee. "City Commission" means the City Cornrnission of the City. "Collection Cost" means the estimated cost to be incurred by the City during any Fiscal Year in connection with the collection of Assessments. "Collection Cost Component" means the amount computed for each Tax Parcel pursuant to Section 3.04(F) hereof. "Debt Service Amount" means the amount computed pursuant to Section 3.04(A) hereof. "]Final Assessment Resolution" means the resolution described in Section 2.07 of the Ordinance that imposes Assessments within the Assessment Area. "Fiscal Year" means the period commencing on October I of each year and continuing through the next succeeding Septembor 30, or such other period as may be prescribed by law as the fiscal year for the City. "Frontage" means, for any Platted Lot or Parcel of Record, the length of the boundary line abutting a road to be improved as part of the Road Improvements, measured to the nearest whole foot. With respect to any Platted Lot or Parcel of Record with boundaries abutting more than one road to be improved as part of the Road Improvements, "Frontage" shall mean the boundary line through which the Platted Lot or 3 Parcel of Record gains access. In the event there; exist two or more access boundary lines, "Frontage" shall be determined by street address. "Government Property" means real property owned by the United States of America or any agency thereof, the State of Florida or any agency thereof, a county, a special district or a municipal corporation. "Initial Prepayment Amount" means the amount computed pursuant Section 3.03(A) hereof for each Tax Parcel located in the Assessment Area to prepay the Assessment in full. "Local Improvement" means a capital improvement constructed or installed by the City for the special benefit of a neighborhood or other local area, for which special assessments are imposed pursuant to the Ordinance. �' "Maximum Rate" means an Assessment calculated using a rate of $25.00 per lineal foot. "Modified Debt Service Amount" means the amount computed pursuant to Section 3.04(C) hereof. "Obligations" means a series of bonds or other evidence of indebtedness including but not limited to, notes, commercial ;paper, internal loans, capital leases or any other obligations of the City issued or incurred to finance any portion of the Project Cost of the Road Improvements and secured, in w+Clole or in part, by proceeds of the Assessments. id "Ordinance" means Ordinance No. 01-1574 enacted by the City Commission on June 18, 2001, as amended and supplemented by Ordinance No. 04-1701 enacted by the City Commission on July 19, 2004. "Parcel of Record" means an unplatted parcel of record or a subdivided Platted Lot in existence on the effective date of this Resolution. "Platted Lot" means a building lot described on a map or plat recorded in the Seminole County Official Records on or prior to the effective date of this Resolution. "Prepayment Modification Factor" :means the factor computed pursuant to Section 3.04(B) hereof. "Project Cost" means all or any portion of the expenses attributable to (A) the Capital Cost of the Road. Improvements, (B) the debt service reserve fund or account, if any, established for the Obligations attributable to the Road Improvements, and (C) any other costs or expenses related thereto. "Property Appraiser" means the Seminole County Property Appraiser. "Road Improvements" means the following road and ancillary improvements to be constructed by the City in the Assessment Area: road repair, paving and resurfacing, sidewalks and curbing, driveway aprons, sod, any appropriate drainage facilities to meet storm water requirements (i.e. swales but not retention ponds) and related improvements. "State" means the State of Florida. "Statutory Discount Amount" means the amount computed for each Tax Parcel pursuant to Section 3.04(G) hereof. 5 "Tax Parcel" means a parcel of real property to which the Property Appraiser has assigned a distinct ad valorem property tax identification number. "Tax Roll" means the real property ad valorem tax assessment roll maintained by the Property Appraiser for the purpose of the levy and collection of ad valorem taxes. "Uniform Assessment Collection Act" means Sections 197.3632 and 197.3635, Florida Statutes, or any successor statutes authorizing the collection of non -ad valorem assessments on the same bill as ad valorem taxes, and any applicable regulations promulgated thereunder. SIECTION 1.02. INTERPRETATION. Unless the context indicates otherwise, words importing the singular number include the plural number, and vice versa; the terms "hereof," "hereby," "herein," "hereto," "hereunder" and similar terms refer to this Resolution; and the term "hereafter" ;,Weans after, and the term "heretofore" means before, the effective date of this Resolution. Words of any gender include the correlative words of the other gender, unless the sense indicates otherwise. SECTION 1.03. GENERAL. FINDINGS. It is hereby ascertained, determined and declared that: (A) Pursuant to Article VIII, Section 2(b) of the Florida Constitution, and Sections 166.021 and 166.041, Florida Statutes, the City Commission has all powers of local self-government to perform municipal functions and to render municipal services except when prohibited by law and such power may be exercised by the enactment of legislation in the form of City ordinances. 6 (B) The City Commission may exercise any governmental, corporate, or proprietary power for a municipal purpose excerpt when expressly prohibited by law, and the City Commission may legislate on any subject matter on which the Legislature may act, except those subjects described in (a), (b), (c), and (d) of Section 166.021(3), Florida Statutes. The subject matter of paragraphs (a), (b), (c), and (d) of Section 166.021(3), Florida Statutes., is not relevant to imposition of assessments related to Local Improvements within the City. (C) The City Commission has enacted the Ordinance to provide for the creation of Assessment Areas and authorize the imposition of Assessments to fund the construction of Local Improvements to serve the: real property located therein. (D) The Road Improvements constitute a Local Improvement, as defined in the Ordinance. (E) The City Commission desires to create the Assessment Area to fund construction of the Road Improvements. (F) The Assessment Area consists solely of all developed and undeveloped Tax Parcels whose Frontage faces the street upon which Road Improvements are constructed. (G) The construction of such Road Improvements will improve access to all real property located within the Assessment Area., thereby providing a special benefit to such real property. P II (H) Due to the configuration and relative: size of the individual parcels, the use of Frontage is the most fair and equitable method of allocating the Capital Cost among Tax Parcels located within the Assessment Area.. (I) The use of Frontage is a statutorily and judicially approved method of allocating the costs related to Assessments. (J) A certain Tax Parcel (P.I.D. 31-20-30-5AU-0000-4850) located on East Magnolia Avenue abuts the Road Improvements, but has primary access via an easement over another parcel abutting Oak Street North.. The other parcel abutting Oak Street North has been included in the Assessment Area. .Accordingly, the Tax Parcel located on East Magnolia Avenue will only derive an incidental benefit from construction of the Road Improvements and therefore is not included in the Assessment Area.] ' (K) In order to reduce the financial impact the Assessment will have on the real property owners in the Assessment Area, the City has decided to provide a 15-year internal loan to the real property owners for their share of the Project Cost. No interest will be charged on this loan. (L) In order to further reduce the financial impact the Assessment will have on the real property owners in the Assessment Area, the City shall limit the Assessment to a maximum rate of $25.00 per lineal foot. The City shall forgo reimbursement in an amount equal to the difference between the normal annual Assessment and the reduced annual Assessment payable by real property owners. 8 (M) In order to further reduce the financial impact the Assessment will have on the real property owners in the Assessment Area, the City will fund all Collection Costs and the Statutory Discount Amount related to collecting the Assessments on the tax bill. (N) The City has established a policy to exempt Government Property due to the problems related to collection under the laws of the State. In order to avoid an inequitable shift of the burden to other real property owners, the City shall forgo reimbursement in an amount equal to the annual. Assessment payable by Government Property. (0) In order to provide an incentive for real property owners to prepay their Assessments, the City shall establish a discount prepay period in which real property owners may prepay their Assessment in full with a discount of ten percent. In order to avoid an inequitable shift of the burden to other real property owners, the City shall forgo reimbursement in an amount equal to the discount provided. (P) The City Commission hereby finds and determines that the Assessments to be imposed in accordance with this Resolution provide an equitable method of funding the Road Improvements by fairly and reasonably allocating the cost to specially benefited real property. 9 ARTICLE II NOTICE AND PUBLIC HEARING SECTION 2.01. ESTIMATED CAIII17AL COST. The estimated Capital Cost for the Road Improvements is $861,_500. The Project Cost of the Road Improvements will be funded through the imposition of Assessments against real property located in the Assessment Area in the n.lanner set forth in Article III hereof. SECTION 2.02. ASSESSMENT ROLL. The Assessment Coordinator is hereby directed to prepare a final estimate of the Capital Cost of the Road Improvements and to prepare the preliminary Assessment Roll in the manner provided in the Ordinance. The Assessment Coordinator shall apportion the Project Cost among the parcels of real property within the Assessment Area as reflected on the Tax Roll in conformity with Article III hereof. The estimate of Capital Cost and the Assessment Roll shall be maintained on file at City Hall and open to public inspection. The foregoing shall not be construed to require that the Assessment Roll be in printed form if the amount of the Assessment for each Tax Parcel can be determined by use of a computer terminal available to the public.. SECTION 2.03. PUBLIC HEARING. A public hearing will be conducted by the City Commission at 7:00 P.M., or as soon thereafter as the matter can be heard, on August 28, 2006, at City Hall located at 175 West Warren Avenue, Longwood, Florida, 10 to consider (A) creation of the Assessment Area, (13) imposition of the Assessments, and (C) collection of the Assessments pursuant to the Uniform Assessment Collection Act. SECTION 2.04. NOTICE BY PUBLICATION. Upon completion of the materials required by Section 2.02 hereof, the Assessment Coordinator shall publish a notice of the public hearing authorized by Section 2.03 hereof in the manner and the time provided in Section 2.05 of the Ordinance. Such notice shall be in substantially the form attached hereto as Appendix A. SECTION 2.05. NOTICE BY MAUL. Upon completion of the materials required by Section 2.02 hereof, the Assessment Coordinator shall, at the time and in the manner specified. in Section 2.06 of the Ordinance, provide first class mailed notice of the public hearing authorized by Section 2.03 hereof to each real property owner proposed to be assessed at the address indicated on the Tax ]doll. Such notice shall be in substantially the form attached hereto as Appendix B. ARTICILE III ASSESSME'NTS SECTION 3.01. DESCRIPTION OF PROPOSED ASSESSMENT AREA. The City Commission proposes to create the Magnolia Avenue/Oak Street North Road Paving Assessment Area including those parcels described in Appendix C attached hereto. The Assessment Area is proposed for the purpose of improving the use and enjoyment of real property by funding the construction of Road Improvements to improve the access to real property located therein. SECTION 3.02. IMPOSITION OF ASSESSMENTS. Assessments shall be imposed against real property located within the Assessment Area for a period of fifteen. (15) years. The first annual Assessment will be included on the ad valorem tax bill to be mailed in October or November 2006. When imposed, the Assessment for each Fiscal Year shall constitute a lien upon the Tax Parcels located in the Assessment Area, pursuant to the Ordinance. SECTION 3.03. PREPAYMENT AMOUNTS. (A) The Initial Prepayment Amount for each Tax Parcel located within the Assessment Area shall be shall be the amount determined by (1) dividing the Frontage attributable to such Tax Parcel by the total Frontage attributable to Tax Parcels within the Assessment Area, and (2) multiplying the result by the estimated Capital Cost of the Road Improvements; provided, however, if the Adjusted Prepayment Amount results in a greater Adjusted Prepayment Amount than one -computed at the Maximum Rate, then the 12 Adjusted Prepayment Amount shall equal the one computed at the Maximum Rate. In such case, the City shall fund an amount equal to the difference between the calculated Adjusted Prepayment Amount and the Adjusted Prepayment Amount calculated at the Maximum Rate, in accordance with the City's finding in Section 1.03(L) hereof. (B) Following the initial prepayment period described in Section 3.05 hereof, the Adjusted Prepayment Amount shall be set equal to the Initial Prepayment Amount for each Tax Parcel, other than those Tax Parcels as to which the Assessment has been prepaid. The Adjusted Prepayment Amount for each Tax Parcel shall be revised annually, as provided in Section 3.04(I) hereof. SECTION 3.04. COMPUTATION OF ANNUAL ASSESSMENTS. The annual Assessment shall be computed for each Tax Parcel in the manner set forth in this Section 3.04. (A) DEBT SERVICE AMOUNT. A "Debt Service Amount" shall be computed for each Fiscal Year as the amount which is payable in respect of the Obligations in accordance with a debt service schedule prepared by the Assessment Coordinator. (B) PREPAYMENT MODIFICATION FACTOR. A "Prepayment Modification Factor" shall be computed for each Fiscal Year by dividing (1) the amount computed by subtracting (a) the sum of the Adjusted Prepayment Amounts, as of the date on which the Obligations are issued by the City, for all "Fax Parcels as to which prepayment has been made following issuance of the Obligations, from (b) the total 13 principal amount of Obligations initially issued by the City, by (2) the total principal amount of Obligations initially issued by the City. (C) MODIFIED DEBT SERVICE AMOUNT. A "Modified Debt Service Amount" shall be computed for each Fiscal Year by multiplying (1) the Debt Service Amount by (2) the Prepayment Modification Factor. (D) ANNUAL DEBT SERVICE FACTOR. An "Annual Debt Service Factor" shall be computed for each Fiscal Year by dividing (1) the Modified Debt Service Amount by (2) the aggregate Adjusted Prepayment Amount. (E) ANNUAL DEBT SERVICE COMPONENT. The "Annual Debt Service Component" shall be computed for each. Fiscal Year for each Tax Parcel by multiplying (1) the Adjusted :Prepayment Amount for such Tax. Parcel by (2) the Annual Debt Service Factor. (F) COLLECTION COST COMPONENT. In accordance with the City Commission's finding in Section 1.03(M) hereof. the City is paying for the Collection Cost related to the Assessments. Accordingly, the "Collection Cost Component" shall be $0 each Fiscal Year for each Tax Parcel. (G) STATUTORY DISCOUNT AMOUNT. The "Statutory Discount Amount" is the amount allowed by law as the maximum discount for early payments of ad valorem taxes and non -ad valorem assessments placed on the tax bill. In accordance with the City Commission's finding in Section 1.03(M) hereof_; the City is paying for the Statutory 14 Discount Amount related to the Assessments. .Accordingly, the "Statutory Discount Amount" shall be $0 each Fiscal Year for each Tax Parcel. (H) ASSESSMENT. The annual Assessment for each Tax Parcel shall be computed as the sum of (1) the Annual Debt Service Component, (2) the Collection Cost Component and (3) the Statutory Discount Amount. (1) REVISION OF ADJUSTED PREPAYMEN'C AMOUNT. Upon certification of the Assessment Roll for each Fiscal Year, the Adjusted Prepayment Amount for each Tax Parcel shall be recomputed by deducting (1) the Annual Debt Service Component included on the Assessment Roll for the Tax Parcel, from (2) the Adjusted Prepayment Amount utilized to compute the annual Assessment included on the Assessment Roll for such Tax Parcel. \_1 SECTION 3.05. INITIAL PREPAYMENT OPTION. (A) Following adoption of the Final Assessment Resolution, the Assessment Coordinator shall provide first class mailed notice to the owner of each Tax Parcel subject to the Assessment of the owner's option. to prepay all future annual. Assessments. On or prior to September 30, 2006, the owner of each Tax Parcel subject to the Assessment shall be entitled to prepay all future annual Assessments, upon payment of the Initial Prepayment Amount. The City Commission, in its sole discretion, may elect to give a discount of ten percent for those owners tll(lat prepay in such period. In order to avoid an inequitable shift of the burden to other real property owners, the City shall forgo reimbursement in an amount equal to any discount. provided. 15 \1� (B) The amount of all prepayments made, pursuant to this Section 3.05 shall be final. The City shall not be required to refund any portion of a prepayment if the actual Capital Cost of the Road Improvements is less ,than the estimated Capital Cost upon which such the Initial Prepayment Amount was computed. SECTION 3.06. ADDITIONAL PREPAYMENT OPTION. (A) Following the date specified in -the notice provided pursuant to Section 3.05(A) hereof, or such later date as the City Commission may allow in its sole discretion, the owner of each Tax Parcel subject to the Assessments shall be entitled to prepay all future unpaid annual Assessments upon payment. of an amount equal to the Adjusted Prepayment Amount for such Tax Parcel.. (B) During any period commencing on the date the annual Assessment Roll is certified for collection pursuant to the Uniform Assessment Collection Act and ending on the next date on which unpaid ad valorem taxes become delinquent, the City may reduce the amount required to prepay the future unpaid annual Assessments for the Tax Parcel by the amount of the Assessment that has been certified for collection with respect to such Tax Parcel. (C) The amount of all prepayments made pursuant to this Section 3.06 shall be final. The City shall not be required to refund any portion of a prepayment if (1) the Capital Cost of the Road Improvements is less than the amount upon which such Adjusted Prepayment Amount was computed., or (2) annual Assessments will not be imposed for the full number of years anticipated at the time of such prepayment. 16 SECTION 3.07. MANDATORY PREPAYMENT. (A) The owner of a Tax Parcel subject to the Assessment shall immediately prepay all future unpaid annual Assessments for such Tax Parcel if (1) the Tax Parcel is acquired by a public entity through condemnation, negotiated sale or otherwise, or (2) a tax certificate has been issued and remains outstanding in respect of the Tax Parcel and. the City, at its sole option, elects to accelerate the Assessment. The amount required to prepay the future unpaid annual Assessments will be equal to the Adjusted Prepayment Amount for such Tax Parcel. (B) During any period commencing on the date the annual Assessment Roll is certified for collection pursuant to the Uniform Assessment Collection Act and ending on the next date on which unpaid ad valorem taxes become delinquent, the City may reduce the amount required to prepay the future unpaid annual Assessments for the Tax Parcel by the amount of the Assessment that has been certified for collection with respect to such Tax Parcel. (C) The amount of all prepayments made pursuant to this Section 3.07 shall be final. The City shall not be required to refund any portion of a prepayment if (1) the Capital Cost of the Road Improvements is less than the amount upon which such Adjusted Prepayment Amount was computed, or (2) annual Assessments will not be imposed for the full number of years anticipated at the time of such prepayment. 17 SECTION 3.08. REALLOCATION UPON FUTURE SUBDIVISION. (A) Upon subdivision of any Tax Parcel located within the Assessment Area that is subject to the Assessment, and compliance with the conditions set forth below, the Adjusted Prepayment Amount for such Tax Parcel shall be reallocated among the subdivided parcels. (B) In order to have the Adjusted Prepayment Amount for such Tax Parcel reallocated in connection with any such subdivision, the owner shall be required to apply to the City and comply with each of the following conditions: (1) a recorded plat, approved site plan or comparable document must be provided to the City sufficient in detail to describe adequately the location of the Tax Parcel and the individual parcels in the proposed subdivision; ' (2) the Property Appraiser must have assigned distinct ad valorem property tax identification numbers to each individual subdivided parcel or committed in writing to assign such numbers prior to the next ensuing August 1 or any later date approved by the City that will not prevent timely certification of the Assessment Roll in accordance with the Uniform Assessment Collection Act; (3) at the expense of the real property owner, an appraisal must be provided by a "certified general appraiser," as defined in Section 475.611(g), Florida Statutes, approved by the City, which indicates the fair market value of the Tax Parcel prior to the subdivision and the fair market value of each individual subdivided parcel; in determining the, "air market value of the individual � 18 subdivided parcels, the appraiser may take, into consideration any infrastructure improvements that are then under construction if funds sufficient for their completion are secured to the satisfaction of the City Attorney; (4) a proposed reallocation of the Adjusted Prepayment Amount to each individual parcel must be provided to the City; provided however, that no portion of the Adjusted Prepayment Amount may be reallocated to real property proposed for dedication to the public or to common use of the subdivided parcels; (5) the fair market value of each separate parcel after the subdivision must be at least five times the Adjusted Prepayment Amount reallocated thereto; and (6) the real property owner shall pay an assessment reallocation fee to the City for each individual parcel resulting; from the subdivision, in an amount to be established by resolution of the City Commission. (C) If the owner of any Tax Parcel subject to the Assessment subdivides such Tax Parcel and fails to comply with the foregoirig conditions, the City shall reallocate the Adjusted Prepayment Amount among the subdivided parcels, based upon the land value, without improvements, assessed to each subdivided parcel by the Property Appraiser. At its sole option, the City may obtain an appraisal of the subdivided parcels at any time and reallocate the Adjusted Prepayment Amount based upon the land value, without improvements, reflected in the appraisal. If an appraisal is obtained, the cost of the appraisal will be allocated among the subdivided parcels on the basis of the value 19 reflected therein and added to the Adjusted Prepayment Amount of the Assessment for each subdivided parcel in the Fiscal Year following receipt of the appraisal. It is hereby found and determined that the foregoing method of reallocating the Adjusted Prepayment Amount among subdivided parcels is fair and reasonable, taking into consideration the opportunity for reallocation available to the owner and the requirement to provide adequate security for the Obligations. (D) Notwithstanding the foregoing, if a Tax Parcel includes more than one Platted Lot and no Parcels of Record, the Assessment imposed against such Tax Parcel may be reallocated among the Platted Lots upon (1) application of the owner, and (2) assignment of a distinct ad valorem property tax: identification number to each Platted Lot or any combination of Platted .Lots by the Property Appraiser. 20 ARTICLE IV GENERAL PROVISIONS SECTION 4.01. METHOD OF COLLECTION. The Assessments shall be collected pursuant to the Unifonn Assessment Collection Act. SECTION 4.02. SEVERABILITY. If any clause, section or provision of this Resolution shall be declared unconstitutional or invalid for any reason or cause, the remaining portion of said Resolution shall be in _gull force and effect and be valid as if such invalid portion thereof had not been incorporated herein.. [Remainder of page intentionally left blank] 21 SECTION 4.03. EFFECTIVE DATE, This Resolution shall take effect immediately upon its adoption. DULY ADOPTED this 7th day of August, 2006. ATTEST: L Sarah M. Mirus, City Clerk APPROVED AS TO FORM AND CORRECTNESS: 22 CITY OF LONGWOOD, FLORIDA APPENDIX A FORM OF NOTICE TO BE PUBILISHED OEM 11� To Be Published on or before August 8, 2006 [INSERT SMALL MAP OF ASSESSMENT .AREA] NOTICE OF HEARING TO IMPOSE AND PROVIDE FOR COLLECTION OF 'SPECIAL ASSESSMENTS IN THE MAGNOLIA AVENUE/OAK STREET NORTH ROAD PAVING ASSES!'_�MENT AREA Notice is hereby given that the City Commission of the City of Longwood will conduct a public hearing to consider creation of the Magnolia Avenue/Oak Street North Road Paving Assessment Area, as shown above, and imposition of special assessments for the construction of road improvements. The hearing will be held at 7:00 P.M., or as soon thereafter as the matter can be heard, on August 28, 2006, at City Hall, 175 West Warren Avenue, Longwood, Florida, for the purpose of receiving public comment on the proposed Magnolia. Avenue/Oak Street North Road Paving Assessment Area and collection of the assessments on the ad valorem tax bill. All affected real property owners have a right to appear at the hearing and to file written objections with the City Clerk anytime prior to the public hearing. If a person decides to appeal any decision made by the City Commission with respect to any matter considered at the hearing, such person will need a record of the proceedings and may need to ensure that a verbatim record is made, including the testimony and evidence upon which the appeal is to be made. In accordance with the Americans with Disabilities Act, persons needing a. special accommodation or an interpreter to participate in this proceeding should contact the ADA Coordinator at 407/260-3481 at least seven days prior to the date of the hearing. The assessment for each parcel of real property will be based upon the total number of lineal feet of frontage along the streets to be improved. A more specific description of the improvements and the method of computing the assessment for each parcel of real property are set forth in the Initial .Assessment Resolution adopted by the City Commission on August 7, 2006. Copies of the Initial Assessment Resolution and the preliminary Assessment Roll are available for inspection at City Hall, located at 175 West Warren Avenue, Longwood, Florida. The assessments will be collected on the ad valorem tax bill, as authorized by Section 197.3632, Florida Statutes. The City Commission intends to collect: the assessments in fifteen (15) annual installments, the first of which will be included on the ad valorem tax bill to be mailed in October or November 2006. Failure to pay the assessments will cause a tax certificate to be issu(,d against the real property which may result in a loss of title. �,. If you have any questions, please contact the City's Assessment Coordinator at 407/260-3475. UTY OF LONGWOOD, FLORIDA M APPENDIX B FORM OF NOTICE TO BE MAILED CITY OF LONGWOOD 175 West Warren .Avenue Longwood, Florida 32750 407/260-3440 August , 2006 [Property Owner Name] [Street Address] [City, State and zip] Re: Parcel Number [Insert Number] Magnolia Avenue/Oak Street North Road Paving Assessment Area Dear Property Owner: The City of Longwood is considering creation of the Magnolia Avenue/Oak Street North Road Paving Assessment Area for the construction of road improvements. The cost of the road improvements will be funded by assessments against real property within the Assessment Area. The assessment for each parcel of real property is based upon the total number of lineal feet of frontage along the streets to be improved. A more specific description of the assessment program is included in the Initial Assessment Resolution adopted by the City Commission on August 7, 2006. Copies of the Initial Assessment Resolution and the preliminary Assessment Roll are available for your review at City Hall located at 175 West Warren Avenue, Longwood, Florida. Information regarding the assessment for your specific real property, including the number of lots, is attached to this letter. The City intends to internally finance this and other assessment projects. This will permit the cost attributable to your real property to be amortized over a period of fifteen (15) years. Please do not send payment now. If the assessments are imposed, you will receive a separate notice of the date and place for payment. In order to reduce the financial impact y:he assessment will have on the real property owners in the Assessment. Area, the City has decided not to charge any interest on the loan and fund all administrative and collection costs related to placing the assessments on the tax bill from other City revenue, sources. IKK t The maximum annual assessment is $25.00 per lineal foot. Although actual construction costs may be higher in some cases, the City has decided to limit the Assessment to this rate. The City intends to include annual assessments on your ad valorem tax bill with the first payment on the bill to be mailed in October or November 2006. Failure to pay your assessments will cause a tax certificate to be issued against the real property which may result in a loss of title. The City of Longwood City Commission will hold a public hearing at 7:00 P.M., or as soon thereafter as the matter can be heard; on August 28, 2006, at City Hall located at 175 West Warren Avenue, Longwood, Florida, for the purpose of receiving comments on the proposed Assessment Area and the assessments, including collection on the ad valorem tax bill. You are invited to attend and participate in the public hearing or to file written objections with the City Clerk anytime prior to the public hearing. If you decide to appeal any decision made by the City Commission with respect to any matter considered at the hearing, you will need a record of the proceedings and may need to ensure that a verbatim record is made, including the testimony and evidence upon which the appeal is to be made. In accordance with the Americans with Disabilities Act, if you need a special accommodation or an interpreter to participate in this proceeding, please contact the ADA Coordinator at 407/260-3,181 at least seven days prior to the date of the hearing. Questions regarding your assessment and the process l:or collection may be directed to the City's Assessment Coordinator. at: 407/260-3475. CITY OF LONGWOOD, FLORIDA * * * * * SEND NO MONEY NOW. THIS IS NOT AN INVOICE * * * * * Magnolia Avenue/Oak Street North Road Paving Assessment Area [Property Owner Name] Parcel Number [Insert Number] Total number of lineal feet attributed to property: Amount to make full payment in discount period: (represents 10% discount) Prepayment amount after discount period: (represents no discount) Number of annual payments: Maximum annual payment*: [Insert Number] [Insert Amount] [Insert Amount] 15 [Insert Amount] * The City has placed a $25.00 per lineal foot cap on the assessment. * * * * * SEND NO MONEY NOW. THIS IS NOT AN INVOICE * * * * * I: APPENDIX C DESCRIPTION OF PARCELS IN THE MAGNOLIA AVENUE/OAK STREET NORTH ROAD PAVING ASSESSMENT AREA 31-20-30-5AU-0000 -6560 31-20-30-5AU-0000 -6540 31-20-30-5AU-0000-6570 31-20-30-5AU-0000-6550 32-20-30-300-0160-0000 31-20-30-5AU-0000-4880 31-20-30-5AU-0000-4870 31-20-30-5AU-0000-5480 31-20-30-5AU-0000-5260 31-20-30-5AU-0000 -4670 31-20-30-5AU-0000-5300 31-20-30-5AU-0000-5340 31-20-30-5AU-0000-5380 31-20-30-5AU-0000-4770 31-20-30-5AU-0000-5400 31-20-30-5AU-0000-5440