SB489 HFIN AM 4-10
The Committee on Finance moves to amend the bill on page one,
following the enacting clause, by striking out the remainder of the
bill and inserting in lieu thereof the following language:
"
That §16-13E-8 of the Code of West Virginia, 1931, as
amended, be amended and reenacted to read as follows:
§16-13E-8. Notice to property owners of assessments; correcting
and laying assessments; report on project
completion; credits.
(a) Prior to the issuance of assessment bonds or pledging any
amounts to payment of tax increment financing obligation debt
service, the board shall cause a report to be prepared describing
each lot or parcel of land located within the community enhancement
district and setting forth the total cost of the project based on
the contract with the governmental agency, the accepted bid or
bids, or a cost estimate certified by a professional engineer, and
all other costs incurred prior to the commencement of construction
and the future administrative costs, and the respective amounts
chargeable upon each lot or parcel of land and the proper amount to
be assessed against the respective lots or parcels of land with a
description of the lots and parcels of land as to ownership and
location. If two or more different kinds of projects are involved,
the report shall set forth the portion of the assessment
attributable to each respective project. The board shall thereupon give notice to the owners of real property to be assessed that on
or after a date specified in the notice an assessment will be
deemed granted against the property. The notice shall state that
the owner of assessed property, or other interested party, may on
said date appear before the board to move the revision or
correction of the proposed assessment and shall show the total cost
of the project, whether the assessments will pay for all or part of
the total cost of the project and the lots or parcels of property
to be assessed and the respective amounts to be assessed against
such lots or parcels, with a description of the respective lots and
parcels of land as to ownership and location. The notice shall
also be published as a Class II-0 legal advertisement in compliance
with the provisions of article three, chapter fifty-nine of the
code, and the publication area for such publication is the
assessment district. On or after the date so advertised, the board
may revise, amend, correct and verify the report and proceed by
resolution to establish the assessments as corrected and verified
and shall certify the same to the governing body which created the
district.
(b) During the pendency of the project, the board may decrease
the amount of the assessments certified to the county sheriff for
collection following the June 7 certification of those assessments
by the community enhancement district to the sheriff as provided by
subdivision (6), subsection (b), section six of this article, upon a finding or determination by the community enhancement board that
the decrease is necessary or appropriate as the total cost of the
project is less than projected or that the need for the assessment
amount has decreased under the circumstances, and so certify to the
sheriff of the county where the property is located. The modified
assessment shall be granted against all property in the district
for inclusion in the tax ticket or the preparation of modified tax
tickets by that sheriff for the affected parcels.
__(b) (c) Upon completion of a project, the board shall prepare
a final report certifying the completion of the project and showing
the total cost of the project and whether the cost is greater or
less than the cost originally estimated. If the total cost of the
project is less or greater than the cost shown in the report
prepared prior to construction, the board may revise the assessment
charged on each lot or parcel of land pursuant to subsection (a) of
this section to reflect the total cost of the project as completed,
and in so doing shall, in the case of an assessment increase only,
follow the same procedure with regard to notice and providing each
owner of assessed property the right to appear before the board to
move for the revision or correction of such proposed reassessment
as required for the original assessment. If an assessment is
decreased, the board shall, by resolution and written notice to the
sheriff of the county in which the community enhancement district
is located, cause the next installment or installments of assessments then due and payable by each affected property owner to
be reduced pro rata, and shall provide written notice to such
property owners of the amount of such decrease by the deposit of
such notice in the United States mail, postage prepaid.
(c) (d)
The value of the projects financed with the
assessments shall be treated as a credit toward any impact fees
related to the service or services provided levied under article
twenty
, chapter seven of this code.
".