The City has proposed a 10-year term, instead of 25 or 30 years, to reduce interest costs to property owners over the life of the assessment. Preliminary assessments and posts below have been updated and re-published. Please click on the posts below to read the updated version.
- Neptune Drive Assessment District Preliminary Data
- Preliminary Assessments for the Neptune Drive Shoreline Flood Protection Project
- Neptune Drive Assessment: 7/29/2019 Informational Meeting Slides
In this post, CivicMic provides a Neptune Drive Shoreline Flood Protection Project update. If you are new to this topic, please read the following posts for background information:
- Background on the origins of the project
- Video of the 2nd community meeting
- Presentation slides for the 2nd community meeting
- FEMA map changes and flood insurance
- The assessment ballot process
As reported previously by CivicMic, the City of San Leandro has proposed the formation of the Neptune Drive Assessment District to fund the construction of a levee near the intersection of Neptune Drive and Marina Boulevard.
Important: Formation of the proposed assessment district must be approved by the affected property owners. The City can’t form an assessment district without property owner participation.
The Neptune Drive assessment would impact approximately 1,055 parcels that benefit from the construction of the levee because these parcels were recently re-designated by FEMA as being in the flood zone. The new flood zone designation has resulted in an update of the Flood Insurance Rate Maps and in most cases mortgage companies requiring property owners to pay for flood insurance.
The construction of the levee, in addition to another levee being built by the County, would cause FEMA to re-designate the parcels as no longer being in the flood zone resulting in another update of the Flood Insurance Rate Maps reflecting the parcels off the flood zone and mortgage companies no longer requiring flood insurance.
Neptune Drive Shoreline Flood Protection Project Update (Schedule Constraint)
As discussed at the community meetings, the construction of the Neptune Drive levee by the City results in the parcels being removed from the flood zone only if the County completes the construction of their levee. The construction of both levees is necessary. The City has recently informed us that the County project for the construction of their levee has slowed down. The County levee appears to be on track for completion in the Summer of 2021.
Why is the timing of the formation of the Neptune Drive Assessment District with the completion of the County levee important?
- There is no benefit in forming the assessment district without the construction of both levees.
- Formation of the assessment district results in the issuance of debt and interest costs charged to properties subject to the assessment. Consequently, completing the formation of the assessment district prematurely results in an additional and unnecessary financial burden to property owners within the assessment district.
What is the new proposed timeline for the formation of the Neptune Drive Assessment District?
- The next project status meeting is scheduled for May 2020. The City will provide an update on the status of the County project at this meeting.
- In the meantime, the City has released a new proposed timeline initiating proceedings and mailing ballots for the formation of the Neptune Drive Assessment District in September 2020 with the tabulation of ballots scheduled for November 2020.
- Click here to view the new proposed timeline.
- The new proposed timeline provides for the issuance of debt in December 2020 allowing the City sufficient time for the procurement process with the construction of the Neptune Drive levee starting in the Summer of 2021. The new timeline ensures the County has made sufficient progress in the construction of their levee and minimizes interest costs to San Leandro property owners.
- Under the new proposed timeline, the assessments will first appear on the 2021/22 County secured property tax bills due December 10, 2021, and April 10, 2022.
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