Assessment District
An Assessment District is a means of financing public infrastructure projects, whereby a lien on the properties receiving the benefit of the project benefit serves as the security and repayment for loans needed to build the project. The Assessment District is decided by a vote of the property owners. The vote is weighted based on the Assessment Amount. The vote is conducted through a mailed ballot to property owners. The Assessment District passes if 50% plus one vote is returned in favor of the Assessment District.
The Assessment, if passed, does not immediately become debt to be repaid, but instead act like a line of credit that will be used only when the money is need for the project. For more information on this process, please contact the District at (760) 861-8031 or see the Assessment District Fact Sheet.
Webb & Associates Engineer was hired by the District to complete the Assessment District Engineers Report. Scope of Work
The proposed Assessment District will include Phases 1, 2, & 3.
Preliminary cost estimates were presented to the Board of Directors on December 15, 2010. The Engineer's Report has not been finalized. Currently the District is working on ways to lower costs as much as possible. The Town of Yucca Valley is proposing to participate in the funding of the Project to help offset some of the costs to the property owners through a sales tax measure that could leverage revenues from non-resident shoppers to help pay for the project This could potentially change the Assessment District cost estimates considerably. Once District believes it has exhausted all avenues to reduce the impact to the customers, it will finalize the cost estimates in the Engineer's Report. Once the Engineer's Report is final, the Board of Directors will need to adopt it prior to an Assessment District vote by the property owners. Please check back periodically for updated information or call (760) 861-8031 or sign-up for automatic email updates.