Beverly Woods Special Assessment

Special Assessment for Beverly Woods Storm Water Improvements
Posted on 03/15/2021
Following a virtual public hearing on Monday, March 15, the Village Board approved Final Resolution #21-10, authorizing the construction of public improvements and levying special assessments against benefited properties connected with the Beverly Woods Storm Water Improvement Project. Area residents petitioned the Village Board in 2017 to repave the streets; however, before pavement rehabilitation can move forward, improvements need to be made to the subdivision’s storm water system. Beverly Woods Subdivision is located between 83rd and 85th Streets and 43rd Avenue and Cooper Road.

The virtual public hearing gave virtual attendees an opportunity to ask questions about the proposed improvements and assessments. Members of the Village Board listened to all comments and determined the project needed to move forward to improve the area’s obsolete and aging infrastructure. The storm water project will allow the current roadway pavement, which is at the end of its lifecycle, to be repaved.

The total cost of the storm water improvement project is around $1.4M. The Village is paying for the initial installation of the storm water improvements with the Storm Water Utility. The utility will cover the cost associated with replacing the existing inadequate storm water infrastructure. A portion of the project will be reimbursed to the utility by a special assessment district, consisting of one hundred benefited properties. The project’s special assessment totals approximately $422,663 and covers all new and necessary additions to the storm water system. The average rate per single-family lot is $4,357. Property owners may pay the active assessment in full within 30-days or pay ten annual installments at an interest rate of 6.25%, which is the current prime rate, plus 3%.

Beverly Woods subdivision was platted in the 1970s with rural cross-section roadways and inadequate roadside drainage. Poor roadside drainage contributes to premature roadway and asphalt deterioration, leading to future repair investments in shorter periods. The storm water improvements will replace the failing storm sewer infrastructure to provide improved roadside drainage, generally consisting of new storm sewers, inlets, sump pump laterals, and ditching that will redirect storm water to a regional storm water management pond. 

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