HomeMy WebLinkAbout34. Implementation Res 20-154TO: Honorable Mayor and Members of the Common Council
FROM: Russ Van Gompel, Finance Director
DATE: January 6, 2021
RE: Impact of Resolution 20-154, Extend Waiver of Special Assessments
BACKGROUND
On April 14, 2020, the Common Council adopted a Resolution to Amend the Special
Assessment Policy to defer the installment of special assessments during calendar year 2020.
The resolution was adopted in April 2020 and expired December 31, 2020. The decision before
City Council is whether to extend the time period created in the resolution.
ANALYSIS
The decision to not levy special assessments is impacting home owners who are attempting to
sell and close on real estate transactions.
FISCAL IMPACT
At this time, there is a total of 17 projects which have been completed and were not assessed in
2020. A total of close to $8.2 million in special assessments are outstanding and have not been
certified. This is having a negative impact on the City's Special Assessment Fund and we can
no longer carry the lack of revenue in this fund.
RECOMMENDATION
Staff does NOT recommend continuing the waiver on Special Assessments.
Respectfully Submitted,
Russ Van Gompel
Finance Director
Approved:
Mark A. Rohloff
City Manager
Finance Department
City Hall, 215 Church Avenue P.O. Box 1130 Oshkosh, WI 54903-1130 920.236.5005 http://www.ci.oshkosh.wi.us