Local Improvement District No. 3 was created by the City Council in 2008 to support the development of the Legends at Sparks Marina Park. At the time the LID assessments were distributed based on benefit to each parcel. The City Council approved the initial reapportionment on November 8, 2010. Since that time the number of parcels and their configurations have changed, requiring reapportionment of the LID assessments. Staff retained Stantec Incorporated, the preparer of the original Engineer’s Report for the district, to conduct the reapportionment analysis. The draft report is attached to this staff report for the Council's review.

The reapportionment report, in draft form until approval by the City Council, is attached to this staff report, and provides the analysis utilized to determine the new assessments.  The report complies with NRS 271.425.4 which requires the reapportioning assessment will not:

(a) Materially or adversely impair the obligation of the municipality with respect to any outstanding bond secured by assessment; or

(b) Increase the principal balance of any assessment to an amount such that the Aggregate amount which is assessed against a tract exceeds the minimum benefit to the tract that is estimated to result from the project which is financed by the assessment.

City staff is withholding recordation of the new parcel map until the reapportionment report is approved by the City Council.  Once approval is obtained, the parcel map will be recorded and Washoe County will assign parcel numbers to the reconfigured parcels.  Once those parcel numbers are created, the reapportionment report will be finalized, signed by Engineer and recorded with Washoe County.

1. City Council could approve the reapportionment report as submitted by staff.

2. City Council could reject the reapportionment report and provide direction to the City Manager.

I move to approve Reapportionment No. 4 to assessments levied under Ordinance No. 2397, Local Improvement District No. 3 (Legends at Sparks Marina).