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3. PUBLIC COMMENT- None <br /> <br />4. PUBLIC HEARING <br /> <br /> A. Submittal of Equalized General Improvement District 1-64 Assessment Roll <br /> for 2002.03 Fiscal Year; (510) <br /> <br /> Financial Services Accountant Greenhorn explained that before the Board is a <br /> request to accept the assessed values for GID 1-64. The values are used to <br /> distribute the annual amount required for the debt services of the district. The <br /> property owners of the district have been informed of the assessed values of their <br /> property and of their right to appeal the assessment. If the appeal is filed by <br /> September 16, it will be heard by the Board on December 9, 2002. State Law <br /> requires that the lien date of January 1 be used; therefore, the Board is required to <br /> look at the value of the property as of that date. Some of the values have changed <br /> subsequent to the lien date, and this change of the property value will be reflected <br /> in the assessment for January 1, 2003. Overall, the assessed values of the District <br /> decreased 8.9% from January 1, 2001, with the Commercial property decreasing <br /> 7.2% and the residential decreasing 9.3%. The total assessed value of the district <br /> now stands at 1 billion dollars. <br /> <br /> Council Member Jordan requested an elaboration of Bair Island and Area H and <br /> how those are treated within GID 1-64 in terms of having been taken out of <br /> development. <br /> <br /> Financial Services Manager Freeman stated that her research found that in May of <br /> 1997, exemption was received from the State, the County and the City from the <br /> GID 1-64. <br /> <br /> Charles B. Warren, contracted appraiser, stated that the entire Bair Island area <br /> was intended to be turned over, but due to some valuation questions, only some of <br /> the parcels have been turned over. Some, but not all, of the parcels have been <br /> deeded to various government entities. <br /> <br /> Mayor Claire opened the public hearing - no comment received. <br /> <br /> M/S Ruskin/Howard to close the public hearing. The motion passed by a <br /> unanimous voice vote. <br /> <br /> The affidavit of publication of Notice of Hearing is on file in the City Clerk <br /> Department. <br /> <br />BOARD OF EQUALIZATION JULY 15, 2002 <br />AGENDA PAGE 2 <br />MINUTES Book No. 59 <br />Page No. 192 <br /> <br /> <br />