POLICY STATEMENT 69
SPECIAL ASSESSMENT CHARGES POLICY
Prepared by: Laura Cove, Director of Transportation and Facilities
Adopted by Council: 10/30/14
To adopt an official policy of the Town of Cary to establish a set of charges for special assessments such as sidewalk and street improvements.
This policy, upon adoption by the Town Council, shall apply to all sidewalk and street improvement projects that are subject to special assessments.
The Cary Town Council hereby establishes the following assessment charge policy.
I. Statement of Need: Due to the fluctuation of construction costs associated with sidewalk and/or street improvement projects and the growth experienced by the Town of Cary, the chance of one or more projects being undertaken at the same time has increased. Therefore, it is deemed necessary for the Town to develop a sound and consistent charge policy for special assessments that is both fair and equitable.
II. Criteria for Establishing Charges for Special Assessments:
A. The charges for special assessments shall be reviewed with the fees schedule during the budget process each fiscal year. A set unit price per linear foot shall be determined and applicable assessments shall receive the same charge based on tax map frontage.
B. The charge shall be derived from the related construction costs associated with the type of improvement from bid construction projects. This would allow for the charge to be adjusted annually, based on the fluctuation of the construction industry.
III. Evaluation of Policy and Charge Schedule: Any change in the policy or charge costs shall be reviewed annually with the budget process. Approval must be granted by the Town Council.