We held a meeting on Thursday, October 26th at 7pm at the SilverHawk Clubhouse. At the meeting we discussed the status of the project and the steps and timeline to finally get the project moving forward.
Here is brief overview of the timeline and process moving forward:
1. 51% Minimum must sign the petition to create the tax assessment district
If we don't get enough votes on this petition, then our next step in the process to repair the road is to have a vote for a special assessment in the Villas which will be somewhere near $4,700 per home due prior to hiring the contractor to do the repairs. If that special assessment does not pass, then we will have to save 8.6 years just to have the money required to fix the road in its current state of disrepair. In 8.6 years, the cost to repair the road may double or triple. This means that if this does not pass, the Villas road will be in a continues state of decline with no money available for repairs.
2. City Council passes a resolution to create the tax assessment district after review of documents prepared by the city engineers. (The tax assessment district is just a method of assessing the owners of the Villas for the cost of the project over a 10-15 year period.)
The timeframe to get to this step is approximately 60 days from the date that we turn in the petition and our application fee of $10,000.
3. Construction begins to repair the road and bring the area up to city code.
4. Construction ends
5. City formally takes ownership of the road.
The timeframe to get to this step is approximately 9-12 months from the day we turn in the petition.
If there are any questions please respond to this post and we will answer them for you.