Attached is the spreadsheet that I worked with the current active sidewalk assessments. I will try and explain the spreadsheet:
On the first tab are all the current, active sidewalk assessments. This is broken down by the assessment number (number we use to track in Eden’s), the district number (corresponds to the SID district), the Original Active Assessment Amount (this is the original amount assessed to each property), the current balance due (this is the amount that was sent to the State and shows up on the properties tax bill this also includes any past due amounts), the unbilled principal (amount of principal remaining on each property assessment) and the APN (Address Parcel Number), customer full name and address are self explanatory. The last 2 columns are the number of bills remaining (there are 2 bills per year, so if there are 6 bills remaining there is 3 years left to the assessment), and the term of the assessment is defined in the number of years 12 = 12 years, etc. After each SID there is a subtotal of the original Active Assessment Amount, Current Balance Due and Unbilled Principal, this is highlighted and a descriptor of each SID. At the bottom of the spreadsheet, it is a total of all the assessments and the total count of the number of assessments.
I took the “Insurance Formula”, as proposed by the sub-committee, applied it to the 3 following columns: Original Active Assessment Amount; Current Balance Due; Unbilled Principal. I removed all the summation lines and put all the assessments in ascending order. When you click on each of the tabs it will open on the total lines for the Property-owner and the City portion. Again all the formulas are cell referenced, so if you change any of the boxes up at the top, it will flow through the spreadsheet.
The one that will provide the information, that I think the sub-committee was inquiring about, will be the third tab labeled “Billed Amount”. This tab takes the current amount billed on the property owners tax bill and using the formula that you provided and breaks down what would be the property owners responsibility and the City Portion at the end of the current year billing cycle. It comes out to an additional $8.24 increase in the Road District 1 (or whatever funding source is determined at a later date).
The information presented here corresponds with the information presented yesterday at the meeting. There is about 2.99 million in unbilled principal (we estimated about 2.8 mil that did not include anything older than 2006 bonds) and an increase of about $8 per year for the rebate.
I did not include the properties that paid for the improvements up front (were not assessed), any mandated sidewalk/curb install through a building permit and any assessments that have been paid off (completed assessments) since the property was assessed. If this information was needed it will take more time and I don’t know if this information will be ready for your review prior to the next meeting.
