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Q �EwPpRT <br />CITY OF <br />O � <br />z NEWPORT BEACH <br /><,FORN'P City Council Staff Report <br />June 8, 2021 <br />Agenda Item No. 7 <br />TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL <br />FROM: David A. Webb, Public Works Director - 949-644-3311, <br /> <br />PREPARED BY: Michael J. Sinacori, Assistant City Engineer <br /> <br />PHONE: 949-644-3342 <br />TITLE: Resolution Nos. 2021-50 and 2021-51: Proposed Assessment <br />District No. 124 (Central Balboa Island) — Approval of Preliminary <br />Engineers Report and Notice of Intent to Form Underground Utility <br />District <br />ABSTRACT: <br />The property owners within a roughly 50 -block area of central Balboa Island submitted a <br />petition requesting formation of an underground utility assessment district (AD 124). The <br />City Council certified the petition for AD 124 on February 23, 2021. The City Council is <br />now asked to declare its intention to levy assessments and issue bonds to finance the <br />undergrounding, approve the Assessment Engineer's Report, and set July 27, 2021, as <br />the time and place for a Public Hearing for AD 124. <br />RECOMMENDATION: <br />a) Adopt Resolution No. 2021-50, A Resolution of the City Council of the City of Newport <br />Beach, California, Declaring Its Intention to Take Proceedings Pursuant to the <br />Municipal Improvement Act of 1913 and to Issue Bonds Pursuant to the Improvement <br />Bond Act of 1915, and Make Certain Findings and Determinations in Connection <br />Therewith, all Relating to the Formation of Assessment District No. 124; and <br />b) Adopt Resolution No. 2021-51, A Resolution of the City Council of the City of Newport <br />Beach, California, Preliminarily Approving the Assessment Engineer's Report and <br />Fixing the Time and Place of the Public Hearing for Assessment District No. 124. <br />DISCUSSION: <br />Owners of property located in the proposed assessment district submitted a petition to <br />the City of Newport Beach (City) in December 2020, requesting the formation of a special <br />assessment district to underground overhead utilities. On February 22, 2021, the <br />assessment engineer certified that owners representing more than 60 percent of the <br />assessable property area within Proposed Assessment District No. 124 had signed a <br />petition for undergrounding overhead utilities. On February 23, 2021, the City Council <br />approved Resolution No. 2021-12 certifying the petition for AD 124. <br />7-1 <br />