Placement: Resolutions
Action Requested: Motion / Vote
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Resolution 24-R67, a Resolution of the City of Port St. Lucie, Florida, Relating to the Levy of Special Assessments Against the Lands and Real Estate within the City that are Specially Benefitted by Certain Stormwater, Roadway, Water and Wastewater Improvements and Which are in an Area Known as the Southwest Annexation Special Assessment District No. 1; Adopting and Approving the Revised and Updated Assessment Roll with Respect to Such Special Assessments; Providing for Conflict; Providing for Severability; and Providing an Effective Date.
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Submitted By: Jaimee Cass, Assessment/Property Tax Manager, Finance
Strategic Plan Link: The City’s Mission to provide exceptional municipal services.
Executive Summary (General Business): The attached Resolution provides an updated and revised Southwest annexation District No.1 Assessment Roll for fiscal year 2024/2025. This roll incorporates new plats and ownership changes within the special assessment district
Presentation Information: N/A
Staff Recommendation: Move that the Council approve the resolution.
Alternate Recommendations:
1. Move that the Council amend the recommendation and adopt the resolution.
2. Move that the Council not approve the resolution and provide staff direction.
Background: Resolution 10-R64 established the annual assessments to be paid over thirty (30) years by the owners of the benefitting parcels within the Southwest Annexation Special Assessment District No. 1 (also known as “Southern Grove”). Ordinance 16-41 extended the assessment period by five years. The final debt service payment is due fiscal year 2044/2045.
Issues/Analysis: The 2024 assessment roll includes changes to the roll effective Fiscal Year 2024 as outlined in Exhibit C and GFC sales that closed prior to August 23, 2024
Financial Information: The annual assessment due to the City for fiscal year 2024/2025 is $7,181,980.75. This is expected to be paid by way of special assessments on the 2,415 benefitted properties within the special assessment district and will be collected through the non-ad valorem portion of the November 2024 real estate tax bill. The annual payment due from GFC, Mattamy and all other parcels is $2,296,388.13, $730,361.14, and $4,155,231.48 respectively. In comparison to the 2023 assessment roll, this is a reduction of annual principal and interest in the amount of $198,014.64 for GFC and $48,193.69 for Mattamy. This reduction is the result of sales of both residential and commercial properties. The obligation of the assessment is currently divided as follows: 32% GFC, 10% Mattamy, and 58% all other owners.
Special Consideration: Approval of this Resolution is necessary to submit the 2024 Assessment Roll to the St Lucie Tax Collector no later than September 15, 2024, as required by law.
Location of Project: Southwest Annexation SAD No.1 (Southern Grove).
Attachments:
• Resolution 24-R , Southwest Annexation District No. 1 2024 Special Assessment Roll.
• Exhibit A: Southwest Annexation District No. 1 2024 Special Assessment Roll.
• Exhibit B: Certificate of Non-Ad Valorem 2024 Southwest Annexation District No. 1 Assessment Roll.
• Exhibit C: Changes to the 2024 Southwest Annexation District No.1 Assessment Roll.
NOTE: All of the listed items in the “Attachment” section above are in the custody of the City Clerk. Any item(s) not provided in City Council packets are available upon request from the City Clerk.
Internal Reference Number: 24227-13
Legal Sufficiency Review:
Reviewed by Richard Berrios, City Attorney. Approved as to Legal form and sufficiency by Richard Berrios, City Attorney.