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PUBLIC CONCERN BACKGROUND INFORMATION ESTIMATED ESTIMATED •- <br /> AND CORRECTIVE ACTION TO BE TAKEN FUTURE TIME <br /> CITY COST FRAME <br /> F. The property was not BACKGROLTND INFORMATION: The original Special Use Permit specified that the <br /> returned to crop production site was to be returned to crop production in 1998. Currently, 50 acres(located outside <br /> as specified in the Macon of the perimeter berm)of the 528 total acres in the site are being farmed. The area <br /> County Special Use Permit. within the perimeter berm has not been returned to crop production. <br /> CORRECTNE ACTION TO BE TAKEN: As a part of the Basin 6 dredging project, a No additional 2007-2010 <br /> Reclamation Plan has been prepared for the storage site. The plan is to be used as a cost—included <br /> guide in managing the site after the completion of dredging operations and in site <br /> recommends that a significant portion of the site to be returned to agricultural use as reclamation <br /> soon as soil conditions permit. construction <br /> costs <br /> G. 1'he removal of the 13ACKGROUND INFORNIATION: "The City purchased 528 acres of property for the <br /> property required for the original storage site. Since the City is not required to pay property taxes,the various <br /> original storage site from the taxing districts involved lost the tax revenue that had previously been generated from <br /> property tax rolls has this property. For the year 2000,the tax assessment for the 528 acres would have been <br /> resulted in a loss of tax approximately$12,500. Taxes are currently being paid only on the 50 acres that are <br /> revenue for several taxing being farmed,totaling approximately$1,700 per year. <br /> districts. <br /> CORRECTNE ACTION TO BE TAKEN: The City will annually compensate the $12,500 2001-2010 <br /> various taxing districts for the difference between the property taxes that would have annually <br /> been due for the entire 528-acre parcel(if used for crop production)and the actual <br /> amount of property taxes paid that year. The compensation will be calculated each <br /> year by tl�e Macon County Supervisor of Assessments' office and shall be due and <br /> payable on the same dates as regular property taxes in Macon County. <br /> The City also agrees to compensate the various taxing districts for the calculated $32,400 2001 <br /> difference in property taxes retroactive to and including the year of 1998. lump sum <br /> Page 3 of 4 <br />