Fiddlers Canyon Infrastructure Financing District No. 1 public meetings in 2024
6 substantive meetings from 2024, with official agendas or minutes and plain-English summaries.
Fiddlers Canyon Infrastructure Financing District No. 1
The Fiddlers Canyon Infrastructure Financing District No. 1 board will consider adopting an Assessment Ordinance that levies $14,016,000 in assessments on properties within a 59-acre residential development. The funds will finance sewer, water, road, and storm drain improvements. The ordinance uses an equivalent residential unit (ERU) method and allows for additional assessments if initial funds are insufficient.
- Total assessment amount of $14,016,000 for infrastructure improvements.
- Development covers approximately 59 acres for residential use.
- Improvements include sewer, water, roads, and storm drain systems.
- Assessment method uses ERUs at $39,142.09 per ERU.
- Owners have consented to the assessment; appraisal shows property value at least three times the assessment amount.
Fiddlers Canyon Infrastructure Financing District No. 1
The Board of Trustees is designating the Fiddlers Canyon Assessment Area to finance publicly owned infrastructure for an approximately 59-acre residential development. The District plans to issue assessment bonds to fund these improvements, which will be paid back by property owners over a period not to exceed 30 years.
- Estimated total construction and overhead cost of $15,211,522
- Proposed assessment of $14,016,000 to be levied against benefited properties
- Assessment per equivalent residential unit (ERU) set at $39,142.09
- Infrastructure includes sewer, water, roads, and storm drain improvements
- Estimated bond interest rate of approximately 5.675% per annum
Fiddlers Canyon Infrastructure Financing District No. 1
The Fiddlers Canyon Infrastructure Financing District No. 1 is adopting an ordinance to levy assessments to fund infrastructure for a 59-acre residential development. The funds will cover sewer, water, roads, and storm drain improvements.
- Total estimated cost of improvements: $15,211,522
- Total amount to be levied within the Assessment Area: $14,134,000
- Assessment rate: $39,143.68 per Equivalent Residential Unit (ERU)
- Infrastructure includes sewer mains, lift stations, water mains, fire hydrants, roads, and storm drains
- Appointment of Snow Jensen Reece, P.C. as the initial Foreclosure Agent
Fiddlers Canyon Infrastructure Financing District No. 1
The board will consider a resolution to designate the Fiddlers Canyon Assessment Area to finance infrastructure improvements for a planned 59-acre residential development. The resolution authorizes levying assessments totaling $14,134,000 against properties, to be paid over up to 30 years, and issuing assessment bonds at an estimated 5.675% interest. Property owners have waived hearing and protest rights. Total project cost is estimated at $15,211,522.
- Designate Fiddlers Canyon Assessment Area for infrastructure financing
- Authorize up to $14,134,000 in assessments for sewer, water, road, and storm drain improvements
- Issue assessment bonds estimated at 5.675% interest over 30 years
- Property owners waived notice, hearing, and protest rights
- Total improvement cost estimated at $15,211,522
Fiddlers Canyon Infrastructure Financing District No. 1
The Fiddlers Canyon Infrastructure Financing District Board of Trustees will hold a special meeting to consider two resolutions. The first would establish terms for an assessment ordinance for the Fiddlers Canyon Assessment Area. The second would authorize issuing up to $14,134,000 in special assessment bonds (Series 2024) to fund infrastructure, with terms including a maximum interest rate and maturity. The board will also approve minutes from its October 7 meeting.
- Consider Resolution 2024-05 establishing assessment ordinance terms for Fiddlers Canyon Assessment Area
- Consider Resolution 2024-06 authorizing up to $14,134,000 in Series 2024 special assessment bonds
- Approve meeting minutes from October 7, 2024
Fiddlers Canyon Infrastructure Financing District No. 1
The Fiddlers Canyon Infrastructure Financing District No. 1 Board of Trustees will hold a special meeting to elect officers, adopt governance policies, and consider resolutions authorizing an assessment ordinance and issuing up to $14,134,000 in special assessment bonds for the Fiddlers Canyon Assessment Area. The board will also vote on agreements with a developer for infrastructure acquisition and reimbursement, as well as engage bond underwriting and legal services.
- Consider Resolution 2024-06 authorizing up to $14,134,000 in Series 2024 special assessment bonds
- Consider Resolution 2024-05 establishing an assessment ordinance for the Fiddlers Canyon Assessment Area
- Consider approval of Infrastructure Acquisition and Reimbursement Agreement between the District and Developer
- Consider approval of Funding and Reimbursement Agreement between the District and Developer
- Election of District Chair, Treasurer/Vice Chair, and Clerk/Secretary