local improvement district


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local improvement district

A mechanism for property owners with common concerns to band together and assess themselves for purely local improvements such as sidewalk repair, neighborhood park rehabilitation, irrigation, and flood control. The local improvement districts must be authorized by state law and follow specific state procedures for formation, governance, and the issuance of bonds to finance the projects.

References in periodicals archive ?
Often abbreviated "special benefit study," a special benefit/proportionate assessment study is a method of allocating local improvement district assessments, or other municipal assessments for public improvements, to the properties specially benefitted, in proportion to the special benefit derived by each property from the project.
Special Benefit Assessments in Local Improvement Districts," presented at 1995 spring conference of the Appraisal Institute's Seattle Chapter, Seattle, Washington.
So-called local improvement districts finance the rebuilding of streets to city standards with new pavement, sidewalks, curbs, gutters and storm sewers.
Agenda includes action, Crest Drive local improvement district, approval of 2010 fiscal year budget.
The city approved formation of a local improvement district to pay the $636,000 private- sector share.
So many of the property owners who would be assessed have formally objected to the formation of the so-called local improvement district that a supermajority of the council, or six votes, will be needed for the project to proceed.
Public hearings include 2010 fiscal year budget, formation of local improvement district in Crest Drive area.
Pishioneri favored using money generated from urban renewal or local improvement districts, while Bean wanted to draw more businesses and residents to the city to raise the needed revenue.
Special assessment districts -- Local improvement districts ("LID") -- Special tax districts -- Business improvement districts ("BID") -- Maintenance or services districts
So-called local improvement districts pay for the occasional rebuilding of streets, many of them constructed years ago before the areas were annexed by the city and barely maintained by the city since.
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