Label
Downtown Improvement District - Inclusion and Assessment of City Parcels
Department of Law
Paul F. Syring (x1020)
Revised
Title
Authorizing the Mayor to execute and deliver a petition in support of and in furtherance of the Downtown Toledo Improvement District; authorizing the inclusion of certain City-owned properties within the proposed District; authorizing the assessment of said properties; authorizing the annual expenditure of an amount not to exceed $57,991 per year from the General Fund for a period of 5 years; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
The Board of the Downtown Toledo Improvement District has requested the City include certain City-owned properties as part of its proposed amended Articles of Incorporation, Services Plan, Budget. There are a total of 39 City-owned properties. The total estimated assessment, which includes 1% fee by the County, is $57,991 per year for 5 years. It is found and determined that the inclusion of these properties within the District and the assessment of these properties is in the best interests of the District and the City.
Summary
NOW THEREFORE Be it ordained by the Council of the City of Toledo:
SECTION 1. That the Mayor is authorized to execute and deliver a petition for the inclusion of the following 39 identified City of Toledo properties within the Downtown Toledo Improvement District ("District") at the estimated yearly total assessment as indicated:
(1)
ASSESSED FOOTAGE
ASSESSED VALUE
YEARLY TOTAL ASSESSMENT
TD
PARCEL
PROPERTY ADDRESS
15
47357
700 WATER ST
172
$25,200
$579
(2)
ASSESSED FOOTAGE
ASSESSED VALUE
YEARLY TOTAL ASSESSMENT
TD
PARCEL
PROPERTY ADDRESS
15
47354
708 WATER ST
21
$17,220
$140
(3)
ASSESSED FOOTAGE
ASSESSED VALUE
YEARLY TOTAL ASSESSMENT
TD
PARCEL
PROPERTY ADDRESS
12
25304
1 SEAGATE R|10 10|$832,510
$4,047
(4)
ASSESSED FOOTAGE
ASSESSED VALUE
YEARLY TOTAL ASSESSMENT
TD
PARCEL
PROPERTY ADDRESS
12
2530...
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