How are New Roads and Utilities Established – What is a Lid?
New roads and utilities are implemented through the establishment of a Local Improvement District (LID).
A Local Improvement District (LID) is a method of financing capital improvements for constructing infrastructure, by assessing the whole or part of the costs of the improvements, that are a benefit to the properties within the boundary of the LID.
A LID is created when property owners within a defined benefited area petition the County to make street, drainage, water, utility and/or sanitary sewer improvements.
The LID allows County staff to work with property owners to define LID boundaries, develop construction cost estimates and estimate assessments for the lots within the LID. State Statute requires a petition, public hearings before the Board of County Commissioners (“Board”) and an election. The LID program also allows County staff to procure tax-exempt bonds or local bank construction loans to finance the cost of the improvements constructed within the LID and collect special assessments over a ten (10)-year period to pay for the improvements.
For more regarding LIDS click on the link below: