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ChatGPTClaudePerplexity· Related development
Colonies PID board recommends raising its assessment from $0.10 to $0.13 per square foot
Reviewing the 2022/23 budget, the Colonies board, which had kept the rate at $0.10 per square foot, compared $0.11, $0.13 and $0.14 rates with a $700,000 payment to Rockrose Development and a $3 million bond for the rest owed. At $0.11 the plan went negative within five years; at $0.13 it showed about a $1 million surplus in year five. The board unanimously approved a budget at $0.13, split landscaping into turf maintenance ($200,000), tree care ($100,000) and seasonal planting lines, and used 6% inflation. Finance said the new rate would appear on the next tax bill. Earlier, board members had questioned the City administration fee rising from $5,000 to $30,000.[1][2][3]
What the sources say
- ✓ Verified
The July 20, 2022 minutes say that with the $700,000 payment to Rockrose, "At $0.11 ... the budget broke in the span of the 5-year plan. At the $0.14 rate, they would have 1.5 million in surplus in year 5," and "With $0.13 they had a million-dollar surplus." The chair said the aim was to "pay off the $700,000 to Rockrose and issue the $3 million bond." The board unanimously accepted the budget as changed, at $0.13 per square foot. [1]
- Rate old
- $0
- Rate new
- $0
- Bond
- $3,000,000
- ✓ Verified
At the April and June 2022 Colonies meetings board members asked why the City administration fee went from $5,000 to $30,000. City Finance staff said the City had hired a firm to calculate the costs, that PIDs receive services such as debt management and public meetings not provided to other neighborhoods, and staff said a position for PID contracts was planned. [3][2]
- Admin fee old
- $5,000
- Admin fee new
- $30,000
