 The Landscaping and Lighting Act of 1972 authorizes cities to impose assessments on benefited properties to finance construction of street landscaping, street lighting, traffic signals, parks, street trees, sidewalk repair, recreational improvements; as well as the maintenance and servicing of any of these improvements. Formation of a 1972 Act district is initiated by the legislative body and requires a noticed public hearing and a mailed ballot to property owners.
The cost of constructing these specific improvements may be collected on a pay-as-you-go basis or through bond financing where annual assessments pay off the debt over a period not to exceed thirty years. In order to fund a larger capital improvement, proceeds may be held aside for a stated number of years in certain circumstances. The annual assessments are paid at the same time and in the same manner as property taxes.
MuniFinancial approaches the formation, public hearing, balloting process and administration of maintenance districts first by creating a successful long-term plan for community support. The core of this approach is the knowledge that the property owner is also a customer alongside the client agency. |
