NOTICE OF ASSESSMENT ROLL HEARING
Lake Wenatchee Water District
Local Improvement District No. 1
Notice is hereby given that the Lake Wenatchee Water District Board of Commissioners will meet at 7 p.m. Thursday, January 28, 2016 at the Lake Wenatchee Fire Station (21696 Lake Wenatchee Hwy) to consider, and possibly adopt, the proposed assessment roll for LID No. 1. This assessment is required to pay for costs associated with the construction of a new municipal water system including a new pump-house, reservoir, wells, pipelines, meters, valves, permits, easement acquisition, engineering services, legal support, inspections and other associated items and expenses related to the project.
The proposed assessment roll is on file for public inspection at the Lake Wenatchee Water District office (16621 Brown Road, Leavenworth, WA). Assessments will be payable in 20 equal annual installments, together with interest on the diminishing principle balance thereof at a rate of 1.0% per annum.
Subsequent to adoption of the final assessment roll, a 60 day pre-payment period shall be provided for property owners to pay the entire amount of the assessment, or any portion thereof, without penalty, interest, or costs. Following this pre-payment period, the assessment may be discharged at any time by payment of the entire principle amount of the assessment remaining unpaid together with interest thereon to the due date of the next installment.
Total project expenditures are $4,122,767.00 (see attached). Of this amount, the total for assessment is $2,288,697.00 of which an equal base assessment has been applied to all identified LID properties. However, actual assessed amounts may vary due to credits applied for former water system assets transferred to the District at the time of formation. In addition, properties that received new vaults and meters have a separate adjustment included in their assessment.
All persons desiring to object must make their objections in writing and file them with the District at or prior to the hearing. Upon conclusion of said hearing, District Commissioners shall vote to confirm the proposed assessment roll.
For questions, please call the Lake Wenatchee Water District Clerk at 509-679-1353.