Financing and Implementing Special Assessmentsby Marc F. Samet, Finance Director's Office, Miami, FL, USA,
Abstract: On November 1, 1984 Metropolitan Dade County began levying and collecting a special assessment on 700 properties within the service area of the Downtown Component of Metrorail. Based on net leasable square footage, the special assessment rate will be adjusted annually to account for new development. At the end of 15 years levies on properties will have raised an amount sufficient to repay debt service on the 20,000,000 of capital contributed toward the funding of the DCM by the private sector. A different security and source of payment than special assessments are being pledged to repay the 20,000. 000 of capital.
Subject Headings: Financing | Assets | Security | Payment | Business districts | Subways
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