Submitted By
Steve Drazner, CFO
Reviewed By
A.M. Zayyad, Deputy Village Manager
Agenda Item Title
Title
An Ordinance Terminating Special Service Area Number 7
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Overview
Overview
Special Service Area (SSA) #7 was created by village ordinance 14-37 on July 7, 2014 to design, construct, install and maintain traffic diverters at the north end of 1200 blocks of North Elmwood Avenue and North Rossell Avenue. The project for this SSA has been completed and staff now recommends terminating this special service area. Should the traffic diverters require any future maintenance or repairs, such expenses would be appropriated and paid from the Public Works operating budget.
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Recommendation
Recommendation
Adopt the Ordinance.
Background
Special Service Area #7 was created in 2014 for the design, construction, and installation of traffic diverters on both the east and west sides of the 1200 block of North Elmwood Avenue and the east and west sides of the 1200 block of Rossell Avenue from Lemoyne Parkway, north to the alley immediately south of North Avenue. The project has been completed and the last levy adopted for this SSA was in tax year 2018 (fiscal year 2019). Since all costs have previously been incurred and paid, staff recommends that this SSA now be terminated.
A total of $10,846.95 of unexpended collections remain in SSA #7 and there are no plans to spend it in the future. Paraphrasing 35 ILCS 200/27-93 which stipulates how to handle excess funds at the end of the life of a special service area, "the excess amount must be refunded to the taxpayers on record within the SSA at the date the refund is declared, on a pro rata basis using each parcel's proportionate share of the total equalized assessed valuation to the total in the special service area." The Village is permitted to retain a 5% admin fee for processing the refunds and therefore, the total refunds will be $10,304.60.
Per the most recent EAV report from Cook County, there are 44 pr...
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