HomeMy WebLinkAbout88-72 - Alley Improvements in Block 3NO. 88 -72
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF NEWPORT BEACH ESTABLISHING
NUMBER OF INSTAT•MENTS AND ANNUAL RATE
OF INTEREST FOR ALLEY IMPROVEMENTS IN
BLOCK 2, TRACT NO. 27, BOUND BY 15TH
STREET, CLAY STREET AND BOLSA AVENUE;
CONTRACT NO. 2470.
WHEREAS, on September 28, 1937, the City Council received
a petition from the property owners representing 66.18% of the
front footage facing the alley parallel to Westminster Avenue
and 77.47% of the front footage of the alley parallel to Clay
Street requesting that the City construct alley improvements
using the procedure set forth in Chapter 27 of the Improvement
Act of 1911.
WHEREAS, after public hearing, the City Council approved
the alley improvements in Block 2, Tract No. 27, bound by 15th
Street, Clay Street and Bolsa Avenue, Contract No. 2470 and
established the number of installments and annual rate of
interest for the assessment on the project.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Newport Beach as follows:
1. The assessments for each lot based on lot area is as
follows:
AREA
GARAGE APPR.
TOTAL
LOT NUMBER
LOT
@ $ 2.35/sf
COST PER LOT
Block 2
Lot
2
5250
sf
$ 2,115.35
Lot
3
5250
sf
2,115.35
Lot
4
5250
sf
2,115.35
Lot
5
5250
sf
2,115.35
Lot
6
5250
sf
2,115.35
Lot
7
5250
sf
61 sf
2,258.71
Lot
8
5250
sf
2,115.35
Lot
9
9437
sf
3,842.69
Lot
10
6375
sf
8 sf
2,587.44
Lot
11
6375
sf
2,568.64
Lot
12
6375
sf
2,568.64
Lot
13
6375
sf
2,568.64
Lot
14
6375
sf
2,568.64
Lot
15
3188
sf
1,284.52
Lot
16
3188
sf
1,284.52
Lot
17
6375
sf
64 sf
2,719.05
•
Lot
18
6375
sf
Lot
19
6375
sf
Lot
20
7012
sf
Lot
21
5738
sf
Lot
22
10076
sf
Total Assessment
27 sf
R
2,568.64
2,568.64
2,825.31
2,311.98
4.123.33
51,341.48
2. The pay back period for assessments over $2,000 shall
be ten (10) years. The pay back period for assessment of
$2,000 or less shall be five (5) years.
3. The rate of interest to be charged for each assessed
amount shall be 8% per annum.
ADOPTED this 11th day of July , 1988.
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