The 30-page petition and background papers that the city will distribute to property owners along East Osage this week describes the East Osage Community Improvement District (CID) that officials hope residents will approve.
Some 101 properties are located in the proposed improvement district, including residential and commercial. A simple majority is needed to pass the measure.
Properties are numbered on the map defining the district, starting with Route 66 Realtors as No. 1 extending east to the city limits, to the south side of the street and numbering back to 101, which is the BP station at West Osage (West Union) and Western Avenue.
Including the BP station and store, businesses that anchor the west end of the CID are Taco Bell, McDonald’s, Quality Inn, Moto Mart and Hardee’ss.
U.S. Silica, Wintec Pharmaceutical, Red Cedar, Phil Zahn properties, Third Rail and Pacific Plaza anchor the east end of the CID.
Total assessed valuation of the properties within the district is $11,182,540.
If approved by voters in the proposed CID, the city will hold a public hearing before adopting an ordinance creating the district.
Once the ordinance is approved, the commercial businesses within the CID would collect an additional sales tax of up to 1 cent to generate revenue for infrastructure improvements.
Curbing, gutter, sidewalks, street trees and other improvements will be constructed along East Osage. Stormwater improvements also will be made.
The length of the improvements is two miles, from Seventh Street to Clear Creek Road.
Estimated cost of improvements on Osage is $1.4 million with an additional $446,000 in application, engineering and administration costs.
On Union Street from Viaduct to Payne streets, sidewalks, a pedestrian bridge, curb and gutter, asphalt overlay and striping is estimated to cost $210,843.
The Adam’s Garden parking lot will be improved with curb and gutter and an asphalt overlay at a cost of $5,211.
The city will issue obligation bonds secured by the future revenue of the CD sales tax to fund the improvements. The city also will seek matching fund grants to help for improvements.
If approved, the district will be established this year and collection of sales tax will begin, as well as design engineering for the construction to take place.
Street improvements will be completed by August 2014.
The life of the CID will be 20 years, effective on the date of the ordinance, but can be terminated by the CID earlier if the cost of all improvements is fully paid.
The city already has two CIDs, one on Thornton Road and one on West Osage, that contributed to road and sidewalk improvements in the western portion of the city.
“It has been our goal to create the same street improvements on East Osage to give the city a uniform look,” said Mayor Herb Adams. “Passage of the CID will let us do that.”