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Street LID bills coming soon
Congratulations, Ocean Shores: After three years, the Street LID project to re-pave the entire city is complete. Now all the 12,000 or so property owners have to do is pay for it . . . On the agenda at the Aug. 9 City Council meeting is for council to set a hearing date of Sept. 20, which means Street LID assessments (“bills,” with options to pay in a lump sum, or spread out over time) would have to be mailed out to property owners by Sept. 5.
The original $31.7 million project is now estimated to be in the neighborhood of $40 million, although a final total has not been announced.
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Greatings Ocean Shores, As a new player and voice in our comunnity discussion I will open up with just two observations for thought – 1. Isn’t it interesting that after all this time, our LID “bills” will come out AFTER the vote on the Library issue? Coincidence?? and 2. throught out this street LID process, I never recalled reading or knowing anything about paying off as a lump sum would entitle folks to a “discount” vs paying off over time with interest. At this point, I, as a fixed income person, won’t have sufficient time to set aside funds to take advantage of a discount. Seems unfair that, as usual, only the well off folks can benefit on this payment plan. Its hard to play the game if you don’t know ALL the rules.
Ooops Sorry…yep, CAC, 25% is correct…don’t know what I was thinking. I remember them saying that if you had a $2400 bill previously, you could expect it to increase around $600 to a new total of $3000 (We can only hope : )
The oops was 8 million. So if you take 32 million and add 8 million you should expect a 25% increase over the previous estimate. You can call the Public Works office and ask what the previous estimate was just to refresh your memory.
We were given an estimate a couple of years ago (late 2008) when we bought our lot, however, that was before the interest ‘ooops’ so we know that estimate is no longer accurate….now we just have to wait and see when the final ‘bill’ is mailed out to us. Some have suggested along the way that the ‘ooops’ would cost us in the 6% range (of our original estimate). My understanding is that it is based on the benefit to your particular piece of property, whatever that means?!
So, any estimates as to how much each property owner will have to pay? How does this work?