Ordinance 71047

Summary

The Bill will authorize the creation of the Olive West CID, which will levy a special assessment on buildings in the District to help defray a portion of the cost of land assemblage, land clearance, the installation of new sewers, sidewalks, trees and landscaping, and the renovation of the historic Wolfner Library within the District. The special assessment authorized in the petition is up to $4.50 per square foot on residential buildings and $6.00 per square foot on commercial buildings. It is estimated that the special assessment will result in approximately $1.8 million of assistance to the project.

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