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Ordinance Merging Holland Springs Multi-Purpose, Barony Woods East Street Lighting, and Holland Spring Industrial Park Street Lighting Municipal Service Benefit Units Into West Hernando Street Lighting Municipal Service Benefit Unit and Repealing Ordinance No. 1990-30, Ordinance No. 2007-03 and Ordinance No. 2022-21
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BRIEF OVERVIEW
Periodically staff reviews Municipal Service Benefit Unit (MSBU) forecasted budgets with a goal of decreasing assessment cost and increasing efficiencies. A five-year analysis was completed which identified three small MSBUs with assessment rates expected to increase significantly due to rising operational costs and the depletion of reserves over the years. These include Holland Springs Multipurpose MSBU (Ordinance 2007-03), Barony Woods East Street Lighting MSBU (Ordinance 1990-30), and Holland Spring Industrial Park Street Lighting MSBU (Ordinance 2022-21).
After analyzing the different facets of each existing lighting MSBU, staff proposes to merge these three individual MSBU's with the existing larger West Hernando Street Lighting MSBU (Ordinance 2013-42). These MSBU's were chosen to be merged with West Hernando MSBU as opposed to the Spring Hill Street Lighting MSBU because they all contain similar operational costs (i.e., types of lighting fixtures and concrete poles). The merge will exclude nine (9) units from the Holland Springs multipurpose MSBU identified as not platted within the Village Van Gogh subdivision. The merge will also eliminate the sidewalk purpose within the Holland Spring Multipurpose MSBU as the sidewalks reside in the County right-of-way and are therefore maintained by the County. Any existing reserves from the individual MSBUs will be moved to the merged West Hernando MSBU as the refund amounts do not meet Policy 16.01 limits of $500.00 minimum per unit.
CURRENT PROJECTED TAX RATE
MSBU 2022 2023 2024 2025...
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